Description
Since the invention of double-entry bookkeeping, managers have judged a company's worth by sales and profits. Now, Richard J. Schonberger, the architect of the worldwide Just-In-Time revolution, reaches beyond "financials" to redefine excellence-and reveals, with new benchmark data, how pioneers become dynasties.
Schonberger's pathbreaking new research reveals that, from 1950 to 1995, while "financials" dipped and soared repeatedly, industrial decline and ascendancy correlated perfectly with inventory turnover-one of two key nonfinancial indicators and a bedrock measure, along with customer satisfaction, of a company's power, strength, and value. Moving beyond edicts, procedures, and policies, Schonberger captures these nonfinancial metrics-the true predictors of future success in 16 customer-focused principles which have been fully tested in 140 leading-edge manufacturers in nine countries. Armed with new world-class benchmark data, Schonberger redefines excellence in terms of competence, capability, and customer-focused, employee driven, data-based performance.
For front-line associates to senior executives, Schonberger has written manufacturing's action agenda for the next decade. This book will be indispensable reading for manufacturing and general managers in all industries, as well as for pension fund managers, institutional investors, stock analysts, and stockbrokers. ISBN:9780684823034
