Markets are constantly being disrupted. Innovative products are being released to the public at a rapid rate. Competition is increasingly affecting how companies do business. Consumers have more options today than they did just a decade ago. Even retaining current customers can be a challenge.
The global market is extremely volatile with future outlooks uncertain. Businesses can no longer afford to be lazy. Nor can they afford to waste valuable resources. Technological improvements and ground breaking methods are constantly evolving to meet growing demands on business processes.
One of these practices that holds promise is Six Sigma.
An overview of Six Sigma
Originally developed by Motorola, Six Sigma is a management philosophy that aims for process perfection by identifying defects through rigorous data analysis and working to eliminate them. Six Sigma aims to minimize variability in all processes from manufacturing to production creation and service.
Each implementation follows defined sequential steps and are overseen by experts trained in these complex methods. Such systems are costly to implement and can even take years before seeing visible results. But doing so can mean the difference between being a market leader or losing market share to competitors.
The overall aim of Six Sigma is to:
- Reduce process defects
- Keep costs to a minimum
- Improvement management
- Improve customer satisfaction
- Capture new markets
- Accelerate product development
- Improve predictability
How Six Sigma can increase your bottom line
Six Sigma started gaining momentum as Jack Welch made it his primary focus in his term as CEO of General Electric. Estimated savings of nearly $10 billion were largely attributed during the implementation of Six Sigma just in the first five years alone.
Since then, thousands of companies around the world have hired trained experts with certifications to prove their expertise. Depending on the scope of the project, implementation can yield savings in the hundreds of thousands of dollars for companies offering excellent return on their investments.
Six Sigma training
Six Sigma training is ideal for all businesses regardless of the industry they operate in. The end goal is to improve productivity and all processes of the company. Implementing proven management strategies is one of the best ways to remain competitive especially in global marketplace.
Six Sigma is an entire system aimed at improving every aspect of the business including product development and customer service. Companies that employ these methods are much better suited to deal with the volatility of their industries.
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