In 1913, Henry Ford installed the first moving assembly line for the mass production of an entire automobile. His innovation reduced the time it took to build a car from more than 12 hours to two hours and 30 minutes.
Lean manufacturing is a management philosophy derived from the Toyota Production System (TPS) and is a systematic method for eliminating waste within a manufacturing system. Lean addresses waste created by overburden and uneven workloads. By removing everything that does not contribute value, lean manufacturing makes obvious what adds value, by reducing everything else which does not.
The Law of Diminishing Returns is an economic principle stating that as an investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables stay at a constant. As the investment continues past that point, the return diminishes progressively.
How, and why, should these principles matter to your business? First, at its core, your high-volume photography business is an assembly line. So, let's look at one aspect of your assembly line to apply these principles. The size of your image files.