E119 | The Theory Of Constraints with Andy Watt

Eli Goldratt wrote a book called The Goal, which Verne Harnish has described as one of the most important business books ever written. With such an accolade, we had to have Andy Watt, MD of Goldratt, on the show. Andy is a founding member of the Theory of Constraints International Certification Organisation (TOCICO) and a Chartered Fellow of CILT (Chartered Institute of Logistics and Transport). He’s also the owner and driving force behind Goldratt UK, and he has the singular aim of increasing the exposure of Theory of Constraints (TOC) in the UK.Over the last fifteen years, Andy and Goldratt UK have worked with hundreds of organisations implementing TOC including Bentley, McLaren, Honeywell, Masterfoods, Bombardier, Eurostar, Siemens and Johnson Matthey.Today, Andy talks about managing constraints, not just in a manufacturing or engineering business, but in any business that runs project work. The idea that constraints should be managed is applicable to so many businesses, regardless of their industry. The common thread is that people often know what the constraint is, and what the solution to the problem is, but somehow can’t fix it themselves. “Fundamentally, it's how you release work into the system, which is really important. So we release it at the rate at which the constraint can produce it. So shoving it in doesn't make it come out, which is a lesson that most people don't understand.”We also discuss how many CEOs and business leaders have a belief problem that they need to overcome and that the actual constraint might be a belief and not a real thing. This is a fascinating conversation, we hope you enjoy it as much as we did. On today’s podcast:Why a physicist wrote a business bookEli’s algorithm to release work into the systemThe constraint is often the most simple thingFlow dynamics/ flowing capacityKnowing what done/good looks likeOvercoming beliefs

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