Can Reducing Analytical Cycle Time by Only 1 Minute Increase Revenue by $100,000 or More? Yes!Operational Issues Impacting the Environmental Laboratory Industry (Session 2)
Oral Presentation
Prepared by R. Clinkscales
Thermo Fisher Scientific, 168 3rd. Avenue, Waltham, MA, 02451, United States
Contact Information: [email protected]; 304-673-3653
ABSTRACT
Environmental contract testing labs are continually in the position to perform more analyses with less cost and to generate more revenue. As inflation drives costs up, the ever-changing employment pool places more emphasis on the work-life balance and the trend of The Great Resignation continues, a laboratory's ability to maintain a stable and trained workforce is challenging. Laboratory management must maximize efficiency and capacity to meet profitability goals in this difficult environment.
Directing department leaders to investigate ways to increase capacity usually returns the proposed resolutions of adding personnel or acquiring an additional instrument or two. On the surface it may appear that the department leader has selected the easy way out and proposed the obvious solution however, it is more probable that attrition of experienced staff is responsible for the proposition and the department leader does not have the understanding to look beyond the big picture.
This presentation will illustrate several possible mechanisms for department leaders who are challenged to investigate and reduce analytical cycle time (injection to injection) and will examine three real-world case studies where reducing cycle time translated into $100,000 or more of increased revenue.
