Understanding The Impact Of Business Waste

Business waste can cost you a lot of money. Image from https://buff.ly/2LVsZoY

Most business owners and directors understand just how important waste management is in terms of financial profitability. However, just how deep the impact is and how many ways in which waste can affect a business is still a learning process for many new businesses and entrepreneurs. Here is a brief summary of just some of the most apparent ways in which waste can impact your operations.

1. The Environment

Every day, more and more information on waste is hitting the press in regard to the impact it is having on the environment. Even though you may ‘think’ that your line of work doesn’t produce anything that is toxic, or has the capacity to do harm to the ecosphere, it’s time to think again. Of latest concern are all those straws that were found in the bellies of sea creatures. Some corporations like Starbucks put a ban on plastic straws in the hope of raising awareness, but experts state that this will do very little in terms of saving the ocean.

The amount of waste from plastic straws accounts for less than 5% of the plastic making its way into the digestive tracts of those creatures, but every 5% does add up! When seeking an understanding of how waste from your enterprise affects the environment, think beyond plastic straws to chemicals you may use (even for cleaning office floors!) to the amount of energy consumed being generated by fossil fuels and you will see that waste from every business does have an impact on the environment.

2. Consumer Relations

It is also becoming a huge concern among today’s consumers just how much waste businesses they deal with are responsible for. In what is being termed the “Green Economy,” consumers are actually doing a great deal of research into businesses in an attempt to see just what kind of an impact they are having on the ecology. This is especially important to millennials who, believe it or not, take the time to read the mission statements of new businesses they are considering.

Some will even research the company to see what social programmes they support and how they are working to benefit society. Waste goes beyond ecological concerns because the money being literally thrown in the trash could have been better spent on people and animals in need. Any company found to be wasting much in terms of resources will be black-balled and the word will spread on social media. Of that, you can be certain.

Business waste can cost you a lot of money. Image from https://buff.ly/2LVsZoY

3. Production

Consider for a moment just how waste impacts production. You may never have thought of waste management in quite this way, but waste does have a negative impact on production. What happens when waste led to being in short supply for the next product to be manufactured or the next set of mailings to go out? Perhaps a restaurant that wastes food by improper handling or storage procedures runs out of condiments because of poor portion control. Sauces and dressings were being thrown out indiscriminately because patrons were being given overly large portions.

Literally, any kind of business can benefit from having one or more key people taking the time to study for and acquire Green Belt Certification in Lean Six Sigma. If you have noticed that your business is suffering due to an inordinate amount of waste, you can find a course on the findcourses.com website. Whether you want to enrol in an online certification course or prefer a physical location to attend, this is where you will find the Lean Six Sigma training necessary for the above-mentioned certification.

4. Staff Morale

If you think that customers and the general public are being discouraged because of your company’s waste, think for just a moment on what your team thinks of your operation! Although their salaries are more than competitive, it’s always nice to see an increase in pay. Most employees will quickly equate waste to pounds sterling and to them, it is money they could be bringing home!

Also, staff will often see just what waste is doing to your business’s reputation among consumers or peers. Once your reputation suffers a blow, morale will suffer as well. Few people want to be associated with a sinking ship, and not only can their performance suffer, but their tenure with your company will as well. Some will get so discouraged that they begin learning for work elsewhere. As extreme as that sounds, it happens more than you can imagine. Poor morale is one of the leading reasons for lack of job satisfaction.

5. Efficiency

It is difficult to be efficient when waste leads to a lack of materials or financial losses. Sometimes processes are stalled indefinitely while funding is procured, and this has a profound impact on efficient business operations.

Everything from office supplies to production materials can be impacted by waste, and this is something which could have been avoided with proper training and a Lean Six Sigma plan in place. Remember, it starts from the top down, so when focusing on waste reduction to improve efficiency, that waste reduction plan is of vital importance.

6. Profitability

In the end, no business can operate at a loss, and it certainly can’t sustain it for long by just breaking even. Profits are important for growth, and if it is waste that is impeding profitability, it’s time to take a closer look at all the ways in which you are wasting resources within your company. This is the starting place from which you can begin to formulate good business practices that see a reduction in waste.

Also, when there is a great deal of waste woven throughout several areas of your company, the loss of profits will be compounded exponentially. It is imperative to take the time to evaluate areas in which waste is contributing to the overall financial losses, and if no apparent solution is available, that Lean Six Sigma Green Belt Certification is all the more important! Don’t let the future of your company suffer due to avoidable losses resulting from waste.

Key Solutions for Waste Reduction and Management

With all of the above in mind, it’s time to find solutions to the problems you are experiencing. While you would like to offer Green Belt Certification to all your staff members, it probably isn’t feasible on more than one level. Instead, perhaps you can find courses for upper management and team leaders. Good business practices start from the top down, so find a way to get those key people trained and certified.

Also, in wrapping it up, remember that every pound lost to waste is a pound that could have been reinvested into your business. There is always room for growth, and without the financial wherewithal to fund these expanded operations, there would be no growth. Whether seeking growth, restoring company morale or improving customer relations, waste reduction is a key player. Isn’t it time to invest in the training necessary to make all this happen? That would be Lean Six Sigma, and with just a little research you can find courses that offer what you need.

Have you decided to focus on waste management? What processes do you have in place?

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Potentash Founder. A creative writer and editor at Potentash. Passionate about telling African stories. Find me at [email protected]