How to Optimize Rental Operations with TLM and 5S Principles

The five disciplines are designed to improve efficiency, reduce waste, and free up personnel to concentrate on other more productive, less repetitive tasks, resulting in increased productivity for your rental business. According to a recent forecast by the American Rental Association (ARA), the rental equipment industry is on track for growth for the remainder of this year and well into 2022. Updated second quarter forecasts released by the ARA project equipment rental revenue to exceed $47.8 billion in 2021, a nearly 3.5 percent increase over 2020. And while an upward trend in the industry is good news, that momentum amplifies the importance of having efficient processes in place to capitalize on that growth. In Rental’s June issue, in the article, “What is Lean Management and How Can it Optimize Your Rental Business?” I introduced Toyota Lean Management (TLM) and explained how lean principles can improve your rental business by eliminating waste and maximizing productivity. There will always be external factors that impact your business as the world evolves, but one way to limit the impact of those factors is a strong framework like Toyota Lean Management. READ FULL ARTICLE>>