Achieving x% Savings and y% Growth Using Lean Six Sigma
Lean and Six Sigma are the buzz words in the industry today and seem to be on the minds of most CXOs as they try and achieve more from less. Organisations have benefited from millions of dollars in benefits using Lean Six Sigma. These organisations are across a range of industries including Government, Utilities, Defence, Retail, Logistics, Pharmaceutical, etc.
Though the principles of Lean Six Sigma have been around for decades, they are still not very clearly understood by decision makers in terms of its Return on Investment (ROI), investments required, strategy and common pitfalls. This lack of understanding often leads to Lean Six Sigma initiatives that are not business focussed and hence do not generate the ROI that could have been generated, also resulting in wasted effort, time and money.
This paper consolidates primary as well as secondary research sources and the experiences of consultants at the Lean and Six Sigma International Board to explain at a high level what Lean, Six Sigma and Lean Six Sigma (together) mean, and how they have generated ROI in leading organisations around the world. It also summarises the intangible benefits and common challenges faced by organisations during the implementation journey.
Please refer to the list of references at the end of the report for a complete list of sources used to build this report. This paper does not cover the methodology that should be followed for implementation of Lean Six Sigma. Please refer to the whitepaper “Lean Six Sigma Consulting Framework” by the Lean and Six Sigma International Board and Latitude 12 to understand the detailed methodology for implementation.