Key Tips For Operational Excellence

When it comes to a successful business in any industry, operational excellence is essential. From top to bottom, the way a business is conducted and run can make or break a business operation without a high standard of operational excellence. Those operational standards are magnified tenfold when it comes to the hemp and cannabis industry due to the regulations set forth by the FDA, state regulations, and customer demand for high quality, safe and potent products. Without rigorous standards for operational excellence, you can be sure that your business is likely to fail before you ever get your feet off the ground.

In this video, Dr. Jon will discuss the essentials of operational excellence and how they apply to the hemp and cannabis industry. Jon will recall his story of starting at a successful small business which was bought out, in the process of transition learned the value of operational excellence, and ultimately entering the extraction industry as the founder and CEO of extraktLAB. The video will cover a number of important topics including the basics of operational excellence, how it improves cash flow, using the Japanese principle of kaizen (meaning change for the better), value stream mapping, and the “six sigma” improvement process started by Motorola engineer Bill Smith.

These principles of operational excellence will be defined and explained by Dr. Jon through his own experiences of navigating the hemp and cannabis industry. He will walk through the toolkit of operational excellence that you can incorporate into your business practices. Watch and listen to Dr. Jon’s success story and begin adding his methods into your own and watch how operational excellence will solidify your operation in this industry.

Timecode:

[00:00] – Introduction
[00:36] – Operational Excellence
[01:14] – Jon’s Story Of Becoming a true believer
[02:26] – Operational Excellence Initiative
[05:12] – “What Operational Excellence Does?” – It financially affects the balance sheet to improve cash flow
[05:32] – Toolbox you would use: Value Stream Mapping
[06:46] – Lean Toolbox – Kaizen [07:56] – Data Driven: Value Added Labor
[09:00] – Six Sigma [09:40] – “You wouldn’t believe what would happen”
[10:30] – Outro