How important is lean manufacturing to my company?

How important is lean manufacturing to my company? This is a question many executives across various industries and markets are finding themselves asking these days.

With respect to OEMs that outsource their product manufacturing and or design, executives are seeing increasingly competitive companies vying to expand in or, take away, their share of the market.

Meanwhile, contract manufacturing and original design manufacturing (ODM) executives are looking for ways to differentiate their service offerings when competing to win outsourcing programs from OEM executives focused on ways to reduce waste; lower supply chain costs, and increase shareholder value while developing an edge over the competition.

One segment of findings from the VentureOutsource.com electronics outsourcing industry survey not previously released in our 24-page survey report (available here) confirms OEMs and electronics contract manufacturers at least invest some thought in lean manufacturing.

Some companies go a step further and invest the money and the time in implementing lean principles and developing lean cultures in their organizations -- thereby also helping such organizations improve their chances of faring better with regards to managing their business.