Abdul Latif Jameel launches new lean management company
Abdul Latif Jameel and Four Principles have announced the launch of a new joint venture that aims to support both the public and private sectors in the region achieving improved efficiency and unlocking performance.
Modeled on a lean management process re-engineering approach, the new company will offer advisory, training and implementation services to organizations based on the “kaizen” philosophy, an industrial mindset pioneered by Japanese corporations designed to boost efficiency and performance, eliminate waste, and maximize utilization of resources.
The new company will focus on the public sector implementation of transformation initiatives as well as on a spectrum of private sector organizations in the field of financial services, heavy industries, construction, retail, health care, aviation, automotive, energy, oil and gas, FMCG, food and beverage, and education. This includes advising on making improvements to areas such as research and development, manufacturing, procurement, supply chain and logistics, production facility layout, sales and after-sales, supplier integration and digitization.
Mohammed Abdul Latif Jameel, chairman and CEO of Abdul Latif Jameel, said: “As governments across the Middle East deliver on their economic diversification plans, including Saudi Arabia’s ambitious Vision 2030, while private sector organizations are also looking to boost efficiency, the new company will contribute to improving overall performance and driving sustainability.
“The partnership between Abdul Latif Jameel and Four Principles is an opportunity to assist organizations in enhancing performance, strengthening efficiency, reinforcing their value proposition and providing better products and services to their customers and clients.”
Co-Founder and Managing Partner of Four Principles Seif Shieshakly, said: “There is now a significant opportunity to help deliver sustainable change to the governments and private sector players of the Middle East. With a focus on increasing productivity and unlocking value, Four Principles is well positioned to support national agendas through this joint venture with Abdul Latif Jameel. “Having first-hand experience in Saudi Arabia, Four Principles knows it is necessary to take a tailored approach for each client. That’s why we begin each engagement by reviewing client operations on-ground — or in the gemba in Japanese — followed by designing bespoke lean management solutions tailored to their needs, and implementing them together until efficiency and performance are sustainably improved.”
This announcement comes as part of Abdul Latif Jameel’s commitment made in 2016 to establish a kaizen company and training academy for the Saudi public and private sectors.