LEAN SIX SIGMA ACROSS INDUSTRIES & CARRER OPPORTUNITIES

Unlocking the true potential of any industry requires a continuous pursuit of excellence. From professionals to business owners, everyone needs to identify opportunities for improvement. With my experience in deploying Lean Six Sigma across various industries, I aim to help you shape your career path or business strategies.?

Introduction to Six Sigma?

Six Sigma is a management philosophy that improves business processes using data-driven and analytical techniques. It reduces waste, enhances quality, and boosts efficiency across sectors. Six Sigma is adaptable and can identify opportunities for cost reduction, process simplification, and improved customer satisfaction. This article helps Lean Six Sigma professionals understand opportunities across industries.

Lean Six Sigma in Manufacturing & IT?

In 2011, despite having no prior knowledge of software, I was offered a Lean Six Sigma position in an IT company. I was informed that Lean Six Sigma professionals were rare, and they needed experts who could apply the principles without software expertise. I was amazed to learn that my non-software colleagues were doing exceptionally well and were saving millions of dollars annually.?

IT experts have discovered long back that Lean Six Sigma can be deployed in IT, as the process is similar to what is being done in manufacturing.

Lean Six Sigma is widely used in manufacturing, quality assurance, supply chain management, and maintenance/service. In IT, it can be applied to product development, testing, deployment, maintenance, and support.

Lean Six Sigma projects in the Manufacturing and IT industry.

Projects are evergreen and can always be improved for better ROI, between 1:10 and 1:100, by optimizing metrics.

Lean Six Sigma tools such as FMEA, QFD, and DOE can be used in software design, UI design, data warehousing, software development, project management, and customer support. They provide high-impact Six Sigma opportunities to improve various facets of IT.

IT companies like General Electric, Accenture, Honeywell, Wipro Technologies, Infosys, Google, Cognizant, and Tata Consultancy Services have benefited from Lean Six Sigma tools and techniques.

Lean Six Sigma in Edtech, Fintech, E-Commerce, Health Tech, Food Tech

I prefer using Lean Six Sigma in unique industries because of its impact on the value chain. Manufacturing and IT are similar, while service companies with integrated technology, like E-commerce, Edtech, Fintech, and Food Tech, have multiple stakeholders. Opportunities for improvement are a mix of Lean Six Sigma and Big Data, focusing on quality, cost, delivery, and satisfaction. Examples include

Projects have significant ROI over time. For instance, increasing repeat customers by 1% for a million customer base results in an increase of 10,000 customers. With an average order value of $100 a month, this means annual sales of $12M with ~$2.4- $3.0M in profits. A Lean Six Sigma Black Belt could execute 5-10 such projects per year and enable an organization to achieve significant savings through the application of Lean Six Sigma. Big Data is key to understanding consumer behavior and building predictive models. At Skoolz, we are tracking and improving 10+ metrics to scale our EdTech services.

Lean Six Sigma in ITes, BPO?(or BPS)

Lean Six Sigma is more common in ITes and BPO than in IT or service tech. Both ITes and mass production have similar product/ticket types that follow Pareto principles, with only a few contributing to maximum volumes. The main difference is the streamlined production process in mass production, while in the service industry, the process and ticket allocations are not as streamlined.

Repetitive work is linked to both ITes & mass production. Both industries seek automation & technology but have not made great progress. Here's a quick comparison of mass production and service industry with Lean Six Sigma opportunities.

Lean Six Sigma in Healthcare

I believe healthcare presents numerous Lean Six Sigma opportunities. It's a highly impactful industry, but with little explored potential. The healthcare industry is ideal for Lean Six Sigma implementation. Opportunities can be classified into 3 segments.

• ?Revenue Generation:?Healthcare presents numerous opportunities for optimization. Hospitals can increase revenue by optimizing resource utilization and improving patient conversion rates and insurance settlements. Blood banks and pharmacies can also benefit from optimization projects, such as reducing wastage and discarding expired products, leading to significant savings.
• ?Capacity Enhancement:?Optimized processes can increase revenue by treating more patients without compromising clinical aspects. Operation Theatre utilization can be increased while reducing the average length of stay for patients, benefiting both hospitals and patients. In India, 95%+ hospitals can increase capacity by 30-50%.
• ?Patient Care:?Lean Six Sigma is a methodology that enhances patient care by streamlining procedures, minimizing waiting times and expenses, preventing errors, and improving lab turnaround times. All these improvements enhance patient care, leading to an increase in repeat patients and referrals.

Lean Six Sigma in Supply Chain

After working for 2+ years in Supply Chain consulting, I've learned that global opportunities exist in the supply chain. The backbone of manufacturing is the supply chain, which is an essential non-value-added part of lean manufacturing. It begins post-manufacturing and ends at cash receipt, ensuring product delivery.

?Some of the high-impact projects I have seen in the supply chain are?

• Reduce shipping costs.??
• Reduction of shipping errors (damages, wrong deliveries, and delayed
• Reduction of shipping issues?
• Reductio of invoicing errors (Credit notes and Debit notes)
• Increase in on-time invoicing and payments.?
• Streamline Account Receivables and Account Payables?
• Increase customer satisfaction.?

Career Opportunities and Advancement for Lean Six Sigma Professionals

Obtaining a Lean Six Sigma certification is an excellent way to unlock a vast array of lucrative career options with immense potential for professional growth. With this certification, you can confidently explore various roles, such as:

Read the complete blog at Lean Six Sigma Across Industries & Career Opportunities

Also, join the webinar on Lean Six Sigma career opportunities across Industries

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