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Quality Digest

Six Sigma

Six Sigma and Lean Help Bottom Line

Published: Wednesday, October 6, 2004 - 21:00

Quality initiatives such as lean and Six Sigma save businesses upward of 10 percent of their annual revenues, according to a recently released study.

“Lean, Six Sigma & TQM Project Success: Recent Case Studies and Benchmarks,” performed by consulting firm Best Practices LLC, includes examinations of 15 case studies and input from 84 companies. Results and descriptions of lessons learned include:

  • A leading bank that deployed a three-point plan designed to focus its efforts and improve quality reported positive improvement of customer feedback by 20 percent and gained 2.3 million new customers.
  • A global pharmaceutical company that was operating at 50 percent of its stated capacity because of underperformance, unplanned downtime and rejects, applied variability reduction to its system and reported the number of units manufactured more than doubled each day over a one-year period.

The benchmark metrics in the survey reveal which project approach is best for improvement and what type of results to expect. Additionally, the report includes defect and cost reduction techniques, typical scope and average duration of improvement projects, average annual dollar value contribution expected for the productivity approach, and average annual targeted savings and revenue goals for productivity efforts.

Download a complimentary study excerpt at www3.best-in-class.com/rr440.htm.

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For 40 years Quality Digest has been the go-to source for all things quality. Our newsletter, Quality Digest, shares expert commentary and relevant industry resources to assist our readers in their quest for continuous improvement. Our website includes every column and article from the newsletter since May 2009 as well as back issues of Quality Digest magazine to August 1995. We are committed to promoting a view wherein quality is not a niche, but an integral part of every phase of manufacturing and services.