Six Sigma is a data-driven and strategic methodology which is used to consistently measure results and create a new baseline for improved performance. Though Six Sigma’s core idea is a simple data-driven approach, its successful implementation can make a significant financial difference in the organization. It can effectively transform business operations into a world-class spectrum of performance.
Here’s how it will lead to successful business transformation:
- Increased productivity: Six Sigma is a data-driven approach that allows the organization to optimize every activity where they allocate temporal or financial resources. Every business process which is optimized under six sigma leads to reduced cost, minimum waste, and zero inefficiency. Such a reduction in errors and costs leads to higher productivity.
- Make your company more profitable and competitive: Six Sigma makes ‘efficiency’ and ‘quality’, a core part of the organization’s business policy. How well a company performs has a significant impact on revenue and cost structure. Usually, a company considers too many variables to satisfy the needs of different customers. Therefore, Six Sigma emphasizes on standardization of common components to enhance the performance and improves consistency across customer relations.
- Reduce costs: Every defective product or service leads to a waste of money, time, and effort. The framework of six sigma comprises the following five steps – Define, Measure, Analyze, Implement and Control (DMAIC). If an organization effectively follows these 5 steps, it can statistically reduce problems to 3.4 defects per million opportunities.
- Minimize or eliminate waste: The term ‘Waste’ in the business environment relates to costs, time, and materials. A methodological approach of Six Sigma can help the organization to identify and analyze the unnecessary movement of information, people, and product. It also taps the area where excess work is done to produce certain products and services, which practically doesn’t add any value to customer satisfaction.
- Strategic planning: Six Sigma plays an integral part to embrace the company’s strategic vision. For instance, if your business strategy is based on cost leadership, then Six Sigma can improve internal processes, increase revenue, and eliminate unnecessary complexity. And, if your business strategy is based on product differentiation, then Six Sigma can reduce the complicated process and contribute towards continual quality improvement.
Want to explore global opportunities that fit your vision with six sigma? Then, EZsigma Group can help your company to go beyond a near-term road map and build capabilities that will sustain a competitive advantage in the market.