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ΕλληνικάMeasuring the ROI of LEAN initiatives in fashion supply chains
https://www.mdpi.com/2071-1050/11/4/1112
Measuring the ROI of LEAN initiatives in fashion supply chains can be challenging, but it is important to do so in order to assess the effectiveness of these initiatives and justify further investment.
There are a number of ways to measure the ROI of LEAN initiatives, including:
- Cost savings: One of the most common ways to measure the ROI of LEAN initiatives is to track the cost savings that have been achieved. This can be done by comparing costs before and after the implementation of LEAN initiatives.
- Efficiency improvements: Another way to measure the ROI of LEAN initiatives is to track efficiency improvements. This can be done by tracking metrics such as lead times, throughput, and inventory levels.
- Quality improvements: LEAN initiatives can also lead to quality improvements. This can be measured by tracking metrics such as defect rates and customer satisfaction.
In addition to these quantitative measures, it is also important to consider the qualitative benefits of LEAN initiatives, such as improved employee morale and increased customer satisfaction.
Here are some tips for measuring the ROI of LEAN initiatives in fashion supply chains:
- Set clear goals: Before implementing any LEAN initiatives, it is important to set clear goals for what you want to achieve. This will help you to measure the success of your initiatives and track your progress over time.
- Collect data: It is important to collect data on key metrics before and after the implementation of LEAN initiatives. This data will allow you to measure the impact of your initiatives and track your progress over time.
- Use a variety of measures: There is no one-size-fits-all approach to measuring the ROI of LEAN initiatives. It is important to use a variety of measures to get a complete picture of the impact of your initiatives.
- Consider the qualitative benefits: In addition to quantitative measures, it is also important to consider the qualitative benefits of LEAN initiatives, such as improved employee morale and increased customer satisfaction.
By following these tips, fashion companies can measure the ROI of their LEAN initiatives and assess the effectiveness of these initiatives. This information can then be used to make informed decisions about future investment in LEAN.