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Q:
Is LEAN Six Sigma implementation a financial
or strategic decision?
It
is primarily a strategic decision but clearly it is financially driven, as it
should be because one can not have one without the other.
Business objectives do not become part of a plan unless they will achieve
some financial benefit for the company. A
LEAN Six Sigma program should be implemented throughout the company by being
integrated into the company’s 3-5 year strategic plan.
Benefits such as enhanced customer loyalty, quality and profitability
improvements, and greater shareholder value, typically require multiple projects
over a number of years.
If
an organization's LEAN Six Sigma effort is not institutionalized but it is only
focused on costs savings it will be missing a valuable opportunity. Knowledge of what is critical to customers becomes the focus
of improvement projects and when customer problems are eliminated, then customer
satisfaction is achieved. In turn,
customer satisfaction leads to improved sales and a higher market penetration of
the company’s products and services. The combination of the two will provide a
solid financial return for the organization. Focusing on the cost side will be a
short term benefit only.
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