Reengineering

Reengineering is the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times, and quality. It involves a fundamental rethinking and redesign of processes, rather than making incremental or superficial changes. The aim is to streamline operations, eliminate redundancies, and improve overall efficiency by starting from scratch and focusing on the needs of the customer. This often involves the use of new technologies and different ways of working to achieve significant advancements.

Reengineering meaning with examples

• The company decided to reengineer its customer service process to reduce wait times and improve customer satisfaction. They implemented a new CRM system and empowered employees to resolve issues more effectively, leading to a 40% reduction in call handling time. This ultimately reduced costs.
• Due to increasing complexities, the supply chain was reengineered to better manage inventory. The reengineering project implemented a just-in-time delivery system and a more efficient tracking system. This led to significant cost savings and reduced lead times.
• To stay competitive, the manufacturing plant undertook a reengineering project. The reengineering of the factory floor involved automating many manual tasks. This resulted in a boost in production capacity and a reduction in labor costs.
• As part of a digital transformation strategy, the bank chose to reengineer its loan application process. This streamlined the process from manual to online. This boosted customer convenience. It also helped improve processing times.
• Faced with declining market share, the marketing department chose to reengineer its promotional efforts. By implementing a new digital marketing strategy, the firm was able to reach a wider audience and generated a 30% increase in leads in the following quarter.