Showing posts with label Lean Six Sigma. Show all posts
Showing posts with label Lean Six Sigma. Show all posts

Monday, January 21, 2008

How effective is your Organization

“Six Sigma is a sweeping "culture change ... "”


... its effort to position a company for great customer satisfaction, profitability and competitiveness.

Six Sigma is a comprehensive and flexible system for achieving, sustaining, and maximizing business success. Six Sigma is uniquely driven by close understanding of customer needs, disciplined use of facts, data and statistical analysis, and diligent attention to managing, improving and reinventing business processes. The types of business success you may achieve are broad because the proven benefits of the Six Sigma "system" are diverse, including

Cost reduction
Productivity improvement
Market-share growth
Customer retention
Cycle-time reduction
Defect reduction
Culture change
Product/service development

and more.

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Friday, December 14, 2007

Six Sigma achieves extraordinary ROI

“Making the Business Case for Six Sigma Deployment”


You may have read about and seen the benefits of Six Sigma but are unsure how to approach your senior leadership about the opportunity because they do not have a concise package of information to convey.

Here is a series of tried and tested steps to gain management buy-in on the benefits of Six Sigma.

The Importance of Leadership Buy-in

Without leadership buy-in, there is little hope for Six Sigma adoption. A company's executives must believe and support Six Sigma's potential with dollars, words and actions just like any other corporate objective or goal. Executives are looking for a return on investment (ROI), risk mitigation and competitive advantage. Therefore, to convince them of the value Six Sigma will bring to the organization, it is important to present the benefits as a business case. Follow these 8 steps to deploy an effective Six Sigma programme.

The major steps to developing and presenting the business case are:

1. Identify and evaluate your audience.
2. Research and summarize successful launches at other organizations
with similar functions; include the ROI and a sample project.
3. Document critical success factors.
4. Define deployment requirements.
5. Define a pilot project.
6. Calculate and display the potential financial savings range and ROI
including "soft" elements such as corporate image and competitive advantage.
7. Present and sell Six Sigma to the executives.
8. Get ready for deployment!

Defining Six Sigma ...
Six Sigma is a strategic, top management driven transformation of an organization that focuses on profitably fulfilling customer needs using highly trained employees who use data in a disciplined and methodical scientific approach to continuous improvements in competitiveness, processes, and products through effective resource alignment.

The essential components of Six Sigma:
* Is driven by top management.
* Focuses on profitable customer fulfillment.
* Requires everyone to be highly trained.
* Is data driven, not based on beliefs or conjecture.
* Requires disciplined and methodical (i.e., scientific) problem solving approaches.
* Fosters continuous process and product improvement through resource alignment.

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Wednesday, December 12, 2007

Banking Trends to watch in 2008

FX-Week headlined Dec 3, "Plain vanilla is no longer flavour of the month" ... ”


Lori Courtney of the Sasqua Group commented

"Banks are increasingly diversifying their businesses away from the plainer instruments in effort to make more money."

The emerging markets is in hot demand (specialist value is moving towards (Russia, Turkey and the Middle East) ...

Another shift will be e-commerce sales and trading, Banks are focusing on e-solutions - Banks are building up their e-commerce operations with sales of these products moving from middle office to front office functions.

Deutsche Bank
Stefan Sutter in Computing (Oct 2007) stated that "The biggest thing at the moment is the impact of the internet. Online banking in the retail sector has shot up by 200 per cent in four years and we have seen similar growth in the securities and commodities markets."

Other Trends to watch in 2008...

Industrialising Processes - quality improvement (Lean Six Sigma) eg. looking at what car manufacturers have done and trying to learn from them about how they standardise their platforms and shrink their margins.

Straight Through Processing (STP) - (back-end integration) with the removal of the manual processing

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