Lean Six Sigma mainly concentrates on the root cause analysis & Lean focuses on speed waste elimination. By combining both Lean & Six Sigma, we get best out of the two methodologies. Thus, these methodologies provide the desired results. By combining these two processes & implementing these methodologies within an organizational structure, thus results in process improvements, waste reduction & effective monitoring which would eventually lead to an increase in the profit margins.
Below listed are the success factors of Lean Six Sigma: –
An efficient project leader plays an important role in the success of any project and it is the responsibility of the project leaders to prioritize all business activities in the right structure. Furthermore, they have to ensure that all the resources are available to the team to start the production process.
Train the workforce
All the employees must have complete knowledge about the project and also the tools that are required for completing the project successfully. Hence, proper training sessions have to be conducted for the employees of the organization.
Allocate Right Resources & Share the gains
It becomes extremely important for the project managers to employ the right members in the project team. Their jobs become easier if the team members are already Six Sigma certified. It helps the project managers to easily assign them the task of monitoring the project development process, as they are already well versed with all the methods & techniques of Lean Six Sigma.
Project Plan & Approach
It is important for a project manager to review the project status at regular time intervals. This can be done by conducting regular team meetings with stakeholders & senior management team. Furthermore, the feedback and suggestions must be shared with all the members associated with the project.
Using lean six tools & reporting
All the procedures must be correctly documented, which will give the organization a piece of complete information about the financial impact that has been created post implementation of Lean Six Sigma methodologies. Hence, it becomes extremely important for a project manager to accurately measure and report the financial impact of every Six Sigma project.
There are various other benefits of Implementing Lean Six Sigma. Listed below are few: –
The benefits of Lean Six Sigma are not only confined to the organization, but it is also beneficial for the customers. With the help of Lean Six Sigma methods, customers receive the final product according to their specification & quality, which leads to customer retention. This is beneficial for the organization.
While using the Lean Six Sigma methodology, all the employees get thoroughly trained. They all will get the information required for successfully completing the project & also gain useful knowledge about the tools that they have to work with.
Furthermore, Stakeholders are also benefited by Lean Six Sigma methods as these procedures cut down on the waste during the business, resulting in higher profit margins.
Lean Six Sigma concepts entirely focus on improving business processes & concentrates on bringing waste to a minimal level. It is hence advisable even for the start-up companies to implement Six Sigma methods to successfully achieve their goals and targets.