Oct 27, 2018
In our 19th "Deming Lens"
episode, host Tripp
Babbitt shares his interpretation of wide-ranging aspects
and implications of Dr. Deming's theory of management.
Topics in this episode
- The 4th of Dr. Deming’s 14
Points – “End the practice of awarding business on the basis
price tag alone"
- Minimize total cost (of
ownership), overall (life-cycle cost)
- The advantages of using one
supplier for a given product or service
- Challenges beneath the surface,
in implementing Point 4, including short-term thinking and
- Putting all of one’s eggs in one
basket in using one supplier
- A prescription, from Dr. Deming,
for choosing a supplier
- Lessons from Phil Monroe, in his
podcast, regarding his discussions of Point 4 with Dr.
Dr. Deming's 14 Points are fully
covered in Out of the
Crisis. The New
Economics presented his later thinking about the 14