Explain the process under Kaizen costing

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The process under Kaizen costing:

Involve your employees: The involvement of employees plays a vital role in implementing any change. The participation of employees and their feedback helps in generating ideas and information. It also eliminates the resistance to change from their side.

Find problems: The organization together with its employees of all the departments (such as customer support, finance, human resource, production, design, etc.), needs to find out the various problems in the organization with the help of techniques like 360-degree feedback.

Think and find solutions: The next step is solving the identified problems. This step needs a lot of brainstorming and tactical approach; therefore, managers from a team of ingenious employees to find out a practical solution to each question. Implement: Implementing any change involves cost and risk simultaneously. Therefore, to be on a safer side, the new idea must be testified on a small part of the organisation.

Check: The managers need to look after the proper implementation of the Kaizen costing. That is, a new idea should not just remain in words; instead, it should be practically applied to the business process.

Standardize: After being satisfied with the results, the organization needs to set this change as a standard procedure for all the departments and across the whole organization.

Repeat: A standardized procedure becomes the organizational culture when continuously practiced over a period.

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