Lean manufacturing and Six Sigma are two different terminologies. If Lean manufacturing deals with speed, Six Sigma focuses on quality. However, when these two were put together the result will be a business improvement methodology also known as Lean Six Sigma. So what exactly is Lean Six Sigma?
Lean Six Sigma works on the principle of achieving the faster rate of improvement in terms of customer satisfaction, quality, cost, invest capital and process speed. Typical applications of Lean Six Sigma include the following:
(a) Creating consumer value Combination of Lean manufacturing and Six Sigma results to a lot of benefits to customers such as reduced product prices and increased utility;
(b) Implementing practical execution Lean Six Sigma can facilitate an organizations transformation by improving its operations and identifying strategic priorities through the creation of powerful linkages that result to improved customer experience and higher returns on investment;
(c) Focusing on sustainable management capabilities Being attached to every aspect of the business, Lean Six Sigmas sustainable approach will lead to expected results from the quick realization of benefits that the company can get out of implementing it to business operations;
d) Applying renewed business perspective Lean Six Sigma has been widely accepted as a quality management tool wherein its principles can now be applied across the various sectors of the industry.
Through the application of Lean Six Sigma, companies were given the chance to streamline their processes and create enormous value to stakeholders. Indeed, successful implementation of Lean Six Sigma can also result to a win-win situation on the management and the customers as well.