The exciting and fast-paced world of Formula 1 provides a very unique set of challenges. Whilst the global retail and economic slowdown naturally limits available development and operating budgets, the drive to achieve improved performance and reliability through ever increasing quality is unending. Furthermore continuous FIA regulatory changes mean that lead times for developing system is reduced and flexibility to change are at the forefront of the management ethos.
Effective deployment of Lean methodologies can drive improvements in all areas of the Team; from the production of parts, testing, final assembly, and logistics of what is a worldwide operation.
Supply chain management and process visualisation take on a new level of importance as the need to deliver on time every time is seldom as important as in Formula 1. The need to achieve quicker improvement cycles provides the drive for lead time reduction activity, and therefore the natural focus for continuous improvement.
Teamwork, organisational capability, innovation, and strong leadership are required to achieve these goals. By harnessing the power of the workforce to identify improvements, significant cost reductions can be made in manufacturing and logistics costs, thereby releasing valuable development budgets.
