By Meisel, Robert M.; Babb, Steven J.; Marsh, Steven F.; Schlichting, James P.
This e-book presents a primary advent to the ideas of lean firm and 6 Sigma to executives, group of workers new to caliber, or businesses drawn to introductory info on caliber and method development. it really is meant to be a useful consultant on enforcing and optimizing an built-in Lean Six Sigma process eager about knowing go back worth and base line effect. the foundations of Lean and 6 Sigma are brought and mentioned individually and during an built-in method around the book’s 3 chapters. production and non-manufacturing organizations who're simply getting began or considering a Lean Six Sigma initiative will locate this ebook particularly useful. to help in illustrating the applying of those rules to various and international companies, a number of case reports were chosen and incorporated to illustrate how the prescribed instruments and strategies can accommodate and improve a wide selection of purchaser relationships during the worth chain. Examples taken from production, banking, and native govt sectors exhibit the large spectrum throughout which Lean Six Sigma can be utilized as a framework to foster greater functionality and make sure persevered purchaser pride and loyalty.
checklist of Figures and Tables
desk of Contents
1. Lean, Six Sigma, and Lean Six Sigma
2. The money and feel of development
three. enforcing Lean Six Sigma
Read Online or Download Executive Guide to Understanding and Implementing Lean Six Sigma - The Financial Impact PDF
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Additional resources for Executive Guide to Understanding and Implementing Lean Six Sigma - The Financial Impact
As inventory turns are increased, the cost of inventory is reduced. Motion Motion is usually concerned with the movement of people. The raw material depot may be located far away from the production machine or people may need to lift heavy containers of material onto a table or loading station. These are just two examples of wasted motion that can result in loss of productivity, safety incidents, or decreased employee satisfaction. Loss of productivity and accidents can be expressed in dollars fairly easily.
Inventory Inventory includes the raw materials, work in progress, and finished goods being held by a company. There can be many reasons (justified or not) for having inventory. These include: • Fluctuation in customer demand • Uncertainty in customer demand (quantity and product type) • Long lead times • Poor quality (necessitating the need for safety stock to meet customer orders) Inventory requires space, which may be on company premises or rented from someone else. The rental space has a defined expense that shows up on the P&L statement.
The cost to produce the additional inventory reduces cash by $500,000. So the cash and inventory lines change, but the net current assets do not, as reflected in the middle sheet. The bottom sheet shows the consolidated effects, resulting in a soft dollar “savings” of $321,428. The last category to consider is cash. This is already shown on the balance sheet. We saw a $1,821,428 increase in cash resulting from the sale of inventory and a $500,000 decrease in cash to adjust the inventory to its optimum level.