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1. Understanding and accurately assessing the current state of operations: It can be difficult to identify areas for improvement if you don’t have an accurate understanding of your current processes, systems, and technologies. By conducting a comprehensive review of all aspects related to the operation, such as performance metrics and customer feedback, organizations can gain a better insight into where improvements are necessary.
2. Allocating resources and budget to OFIs: Once opportunities for improvement have been identified, organizations must then decide how much time, energy, or financial resources they want to dedicate towards implementing changes. This may require reallocation of existing budget or additional investments in new tools or personnel in order to achieve desired results. In addition, prioritization is key when it comes to OFIs as some improvements will yield higher returns than others.