Theory of Constraints - Overcoming Supply Chain Issues

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What's your construction company's weakest link? Identifying and addressing the constraints that are holding your business back, one by one, is they key to long-term success. This week we're talking about the theory of constraints: how to apply it to your business and how it can be used to address the supply chain issues many of us are still facing today.
Topics we cover in this episode include:

• Theory of constraints basics
• The story of Herbie and performance gaps
• Parkinson's Law
• Why you should focus on your weakest link first
• How to minimize buffer time on your jobs

LINKS
Visit the episode page at https://contractorsuccessforum.com/government for more details and a transcript of the show.

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Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com

Join the Profit First for Construction community!
Find all episodes and related links at ContractorSuccessForum.com.
Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs
FIND US ONLINE
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com

챕터

1. Theory of Constraints - Overcoming Supply Chain Issues (00:00:00)

2. What is the theory of constraints? (00:01:33)

3. There is always a weakest link (00:03:44)

4. Giving away margin for revenue (00:05:09)

5. The Herbie story and performance gaps (00:09:41)

6. Parkinson's Law (00:14:03)

7. Why you should focus on the weakest links first (00:15:20)

8. How to minimize buffer time on your jobs (00:17:36)

9. Communicate with suppliers and subcontractors on the issues that might cause delays (00:19:58)

10. Time is money - for owners too (00:22:35)