Eliminating wasteful activities is one way to drive improved metrics in a bank, including the organization’s efficiency rating. While attacking problem areas and processes can be engaging, there are times when your team may think the people, rather than the process, are the problem. Utilizing some tips and tools to get the staff accustomed to looking deeply at a process helps takes the emotion out of the review and allows them to review activities through a new lens.
One of the most powerful tools is to review the process steps and look for wasteful activities. Wasteful activities are simply defined as non-value-added or nonregulated activities that happen in the delivery of a product or services to a customer. The concept of waste originated in the manufacturing industry and is illustrated with the acronym DOWNTIME. This is defined as: