Opportunity Cost & Benefits Analysis

After identifying process waste, the Cost & Benefits Assessments workbench provides a platform for evaluating the financial impact of waste and the potential benefits of eliminating it. This feature helps users quantify waste in terms of cost and view it as an opportunity for growth. By analyzing the cost implications of waste and categorizing the benefits of its reduction, businesses can prioritize improvement initiatives that offer the greatest return on investment. The TIMWOODS logic is applied here to guide teams in recognizing how waste reduction can translate into tangible financial gains, driving a more cost-effective and efficient operation aligned with the goals of operational excellence.