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Industrial Benefits of Six Sigma :
The document highlights top areas of opportunities specific to each of the industries where Lean Six Sigma could be applied, as a problem solving and a Continuous Improvement approach to increase the financial benefits or cost savings to a company.
Benefits of Lean Six Sigma Applications across Industries
Sales
Increasing new orders from customers
Reducing time to enter orders
Effectiveness and efficiency improvement
Improvement in pricing
Improvement in TAT
Sales Forecasting Improvement
Mean time between Sales Improvement (Corporate Sales)
ITES
Reducing number of quality errors
Improving Agent Utilization
Improving Seat Utilization
Reducing Absenteeism Rate
Reducing Re-work for calls/jobs
Improvement in Attrition rate by reduction
Improvement in training process, reducing the learning curve
Risk Management
Implementing ERM on Risk Management processes, ensuring risks and other process controls are mitigated
IT Applications Development
Reduction in schedule slippages
Reducing application rework, thus reducing SDLC
Reducing invoicing errors
Reducing Customer complaints
Reducing Complaint resolution time, on complaints raised by customer
Control IT Spending
Customer Service
Reduction in call transfers
Improvement in First Time Resolution rate
Reduction in support cost per call
Reduction in response time
Finance and Banking
Reducing wait time for customers in banks
Improving reconciliation process
Eliminating erroneous data entry
Reduction in audit gaps
Reducing processing time
Reducing Credit Card delivery times
Note: Management graduates in Finance can work towards reducing defects and improving their practices in audit and reconciliations.
Electronics and Consumer Durables
Reducing Defective units rate
Ensuring Customer Satisfaction
After-sales service response time
Hotels and Hospitality
Reducing employee attrition
Reducing client attrition
Improving efficiency
Reducing Billing Errors
Increasing revenue and reducing administrative costs
Reducing wait time during peak check-in and check-out times
Increasing employee utilization
Maintaining optimal inventory
Note: A hotel is a conglomeration of various departments liaising as one unit. As such the opportunities of implementing Lean Six Sigma in Hotels are huge, and above mentioned are few popular ones.
Legal Services
Reducing case completion time
Improving lawyer utilization
Improving intra-department communication
Removal of non-necessary steps from the legal process
Supply Chain Management
Reducing Bullwhip effect
Reducing cost without increasing time of delivery
Reduction in delivery time without increase in cost
Improving quality of service
Healthcare
Reducing patient wait time
Reducing per-patient non-value added cost
Improving emergency procedures’ performance
Improving timely care ratio for patients
Clinical Research
Improving employee utilization
Improving TAT on delivery
Improving client metrics’ performance and needs of research documentum
Human Resources
Reduction in employee hire time
Reduction in induction costs and expenses
Minimizing pre-joining attrition
Minimizing pre-performance attrition
Reducing absenteeism
Control exit costs
Improving efficiency of training
Medical Billing
Reduction in non-value added wastes and activities
Improving employee utilization
Reduction in the number of errors in medical billing process
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