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Applying Supply Chain Management and the Theory of Constraints to the Practice of Law
As you look around the current legal landscape, you begin to notice a rather less than subtle change in the industry. More and more law firms are beginning to hire experienced business professionals from outside the legal industry to help run their businesses. With this experience from outside the industry, new ideas on how to more efficiently run law firms are being adopted. This article focuses on one such topic, namely the concept of supply chain management and the Theory of Constraints.
It is not uncommon in business management to discuss supply chain theory and immediately tie it to a physical product line. Historically, the term conjures up thoughts of Henry Ford and his ideas around line assembly, or in more recent times Toyota's dominance over its management of its suppliers. After reading several well-known books on the topic (recommended reading ' “The Goal” by Eli Goldratt) and sitting down for lengthy discussions with Dr. Mandyam M. Srinivasan (“Srini,” a leading expert on the topic and author of the book “Streamlined”) it became clear that this concept, while rooted in physical production, has great validity in the service industry.
Although almost all elements of supply chain theory can be applied within a professional service firm, the two key concepts that Srini and I discussed are minimization of lead time through task organization and the Theory of Constraints. As a definition, lead time is simply the length of time it takes for a client to take delivery of a product or to benefit from a service. Whether seeking a product or service, almost every customer wants to know how long it will take to receive the desired result, with the less time the better.
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