Working with the IfM

Prioritisation tool

A comprehensive business diagnostic tool for small and medium-sized manufacturing companies.

Overview

The prioritisation tool evaluates your business quickly yet thoroughly. It enables you to set priorities for strategy development, capability building and performance improvement that help you to achieve your business objectives. The prioritisation tool analyses performance across the business, from demand management to supply chain control,supporting the generation of distinctive customer value.

Key benefits

The prioritisation tool is specifically created for small and medium-sized companies and offers the following advantages over other assessment techniques:

• it addresses the whole firm, not just a department or a function
• it provides an overview of the company’s strengths and weaknesses, helping to manage the constraints it faces while maximising the performance of order-winning capabilities
• it is comprehensive and efficient: implementing the tool only takes one and a half days of the management team’s time, to thoroughly cover all areas of business operations and generate an action plan
• the results are graphically represented and easy to understand
• it is a powerful communication tool, helping to build rapport across the business and enabling functional managers to compare their vision and priorities with colleagues
• it is objective – an experienced facilitator conducts an independent assessment of company performance following set questions to avoid facilitator bias.

Methodology

The prioritisation tool uses structured question sets comprising 130 questions to assess priorities and performance across the business. Four easy-to-follow steps are involved in its implementation:

1. Identification of managers’ views on the importance of business drivers and internal capabilities over a one to two-year time frame, and analysis to show the level of internal alignment.
2. Analysis of current performance across 11 categories, such as demand management,quality, unique value and innovation, by means of interviews with key management personnel and observation of plant activities.
3. Comparison of priorities and practices to show how resources are allocated and whether or not this reflects the company’s priorities. The results are evaluated with the management team and the implications of continuing ‘as is’ are assessed. Proposals for an improved “future state” are identified. This step will highlight areas requiring urgent attention and those where resources are allocated unnecessarily.
4. Generation of a prioritised action plan with the management team to assist the company to reach its desired level of performance. This could include strategy development, building up key capabilities, mentoring or training in specific functional areas.

Email: ifm-enquiries@eng.cam.ac.uk or phone + 44 (0)1223 766141 for more information