Lean Six Sigma is a revolutionary tool that can help businesses transform themselves from the ground up. It can help identify hidden problems, improve employee satisfaction, and generate more profits for a business.
At its core, it is a managerial framework that aims at reducing wastes and defects in business processes using a variety of time-tested techniques. It takes systematic team effort to realize Lean Six Sigma benefits.
Let’s go over the 10 important reasons why you need to use this methodology to transform your business.
1. Identify Hidden Challenges
Lean Six Sigma can help discover problems that you did not expect existed. The methodology can identify issues that have been going unnoticed and affecting business performance in a significant manner. Once these issues are identified, you can work on systematically removing them and improving productivity.
2. Improve Productivity
The Lean Six Sigma approach helps bolster productivity by ensuring all resources be they material or human are utilized in the most efficient manner possible. It can identify precisely the time the business spends on all activities so root causes of low production can be traced and removed.
3. Lower Costs
More often than not businesses deploy processes that incur significant costs without resulting in business value. Reworking on processes with defects will again burn a hole in your pocket. This methodology can help do away with inefficient processes and lower the costs of production.
4. Eliminate Wastes
Wastes in business processes can take many forms including the unnecessary movement of resources, people, and products that do not add significant value. Adopting Lean Six Sigma will also help ensure that no such process or activity is used which doesn’t add value and thus contributes to waste. It can also help reduce the number of defective products produced as well as minimize overproduction.
5. Improve Customer Experience
Customer experience is paramount — all businesses ultimately aim to ensure high customer satisfaction levels. Lean Six Sigma can reduce production cycles and ensure customer expectations are met faster. The approach can instil an element of standardization in processes for rapid execution of tasks.
6. Bolster Market Share
Lean Six Sigma gives businesses an edge over their competitors. Businesses that adopt the framework see measurable growth compared to their peers. The approach also helps businesses become more sustainable and gather greater share in their respective markets.
7. Improve Employee Satisfaction
No business can flourish with unhappy employees. Lean Six Sigma can identify the root cause of employee dissatisfaction and ensure efficient employee management to avoid under- and overpayments. It can greatly improve transparency levels, allowing employees to better visualize their contributions and remunerations.
8. Ensure Compliance
Lean Six Sigma can greatly reduce legal risks with well-optimized processes to improve compliance for any business. The methodology improves quality and can improve adherence to international and local regulations.
9. Manage Tasks Better
Time is of the essence for any business. When Lean and Six Sigma are blended, they can ensure every passing second is used to the full and that each employee sets realizable goals to complete their tasks within the stipulated time limits. Lean Six Sigma techniques improve productivity and help manage business more efficiently and with lower costs.
10. Increase Revenue
Lean Six Sigma can improve profits for businesses by cutting down on the costs of production and eliminating waste as much as possible. The methodology ensures each decision the management takes is in the right direction, i.e. contributes towards quality improvement, greater customer satisfaction, lower waste, and improved profits.
A strategic methodology that will monitor business performance at every stage closely to suggest specific improvements will likely have far-reaching consequences for the business. Lean Six Sigma achieves exactly that and more with its relentless focus on quality and productivity.
With the use of Lean and Six Sigma, causes of wastage and defects can be identified, employee retention improved, and overproduction kept under check. The ultimate is for the business to increase its profits by keeping its customers happy and returning back for more products or services. In effect, Lean Six Sigma can distinguish a business from its competitors by reducing hidden challenges and helping them stand apart from their peers.
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