Business Analysis
Improving Earnings Outlook
Through 2002-2006, UTC has had positive earnings. Over the past 5 years UTC’s revenues, net income, and working capital have all gone up.
To help achieve positive earning every year, UTC uses a process throughout all of their companies called ACE (Achieving Competitive Excellence). ACE has been implemented at UTC for seven years and is really improving their appearance, customer service and sales by employees implanting ACE tools.
Some of the most important ACE tools implemented to help UTC receive such positive earnings every year are:
- 6S (Safety, Sort, Straighten, Shine, Standardize and Sustain) - This tool helps employees improve the workplace organization, efficiency, safety and employee morale.
- Benchmarking- A process of measuring and comparing products, practices, and services against industry leaders.
- DIVE (Define, Investigate, Verify and Ensure) - A customer service problem solving process tool.
- Kaizen- Improves process organization and flow by employees taking apart a product, studying it, and then putting it back to together better than it was.
- MFA (Market Feedback Analysis) - Using customer feedback to identify and improve a problem.
- Mistake Proofing- Asking employees to brainstorm and implement techniques and devices, which prevent defects from occurring.
- QCPC (Quality Clinic Process Charting) - Used to continuously analyze a process for quality improvement by tracking turn backs to solve inefficiencies or delays in a process.
- Standard Work- Defined sequence of specific activities and work metho ...