About this Presentation
TOC deals with uncertainty through Buffers and Buffer Management, but more should be developed. Never Say I know is a pillar, to which I like to add: Never Say You Don't know. A wider scope of dealing with uncertainty is to be proposed.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
Uncertainty is a universal problem in business and organizations often struggle to deal with it effectively. This is particularly true when it comes to decision making, where the fear of being judged after the fact can lead to a culture of avoiding risk.
The Theory of Constraints (TOC) has made significant advancements in dealing with uncertainty, particularly through the use of visible buffers and buffer management. These tools can help organizations to manage the routine flow of value to clients, even in the face of common and expected uncertainty.
Organizations should actively look for signals of emerging threats and have plans in place to mitigate potential damage. This can involve developing new products, exploring new markets, or securing special contracts with large clients.
Instructor(s)
Eli Schragenheim
Eli Schragenheim is a well-known international management educator, author and consultant active in various fields of management. He worked with a huge variety of organizations all over the world, including public-sector organizations, industrial, high-tech and start-ups. Since he had joined Dr. Eliyahu M. Goldratt, the famous creator of the Theory of Constraints (TOC) in 1985, Eli Schragenheim had taught, spoke at conferences, and consulted all over the globe. Eli Schragenheim is the author of several books on various aspects of management. His last book, Throughput Economics – Making Good Management Decisions, together with Henry Camp and Rocco Surace, was published in July 2019. Eli Schragenheim first book Management Dilemmas (1998) showed a variety of problematic situations in management and the rigorous analysis leading to the right solution. Next he collaborated with William H. Dettmer in writing Manufacturing at Warp Speed. In this book the new concept of Simplified-DBR, now a key concept in production planning according to TOC, was introduced. He collaborated with Carol A. Ptak on ERP, Tools, Techniques, and Applications for Integrating the Supply Chain, and with Dr. Goldratt and Carol Ptak on Necessary but Not Sufficient. In 2009 his book Supply Chain Management at Warp Speed, with William H. Dettmer and Wayne Patterson was published. In March 2015, Eli has opened a blog, now containing more than 140 articles on various topics in TOC that everybody can access.