Quality Management

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Cash Flow Management and Lean Six Sigma

Due to the sudden wake of Covid19, almost all the organisations are going to face an economic contraction in the coming future....

Positive cash flow allows a company to operate, invest, and grow in a way to reach its potential. It is important to keep in check the net amount of cash receipts minus cash expenses by monitoring, analysing, and optimising them. Cash flow management helps in knowing when where and how your cash needs will occur. Also, it helps in being prepared for meeting the additional cash needs whenever required. The net amount of cash and cash equivalents being transferred from into and out of the business can be managed more efficiently by adopting various methodologies that not only improve your business tactics but also help you to renovate and carry out your business profitably.

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Understanding the tools and objectives of Lean, Six Sigma and Lean Six Sigma The ongoing outbreak of coronavirus presents an alarming situation in the...

The ongoing outbreak of coronavirus presents an alarming situation in the minds of all. From domestic workers to the private sector employees, this pandemic has held everybody’s lives. In a situation that is impacting everybody globally, it is necessary to keep ourselves occupied by doing something or the other. KPMG believes that knowledge never goes to waste and therefore, encourages its public to always learn new concepts and programs that are of integral importance to the industry.

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A Grip of Slowdown in the Automobile Industry

Understanding how automobile industry is going through a downfall during corona-virus pandemic

With no clear sight of endgame and several jobs at stake, it becomes imperative for businesses like automobile to strategise and undertake certain approaches. To deal with unfavorable conditions in the economy, businesses shall invest in programs like Lean Six Sigma that would not only help them to bounce back into the market but also help them to improve their performance and eliminate wastes. By adopting programs like these, companies can benefit with better cash flow, can raise equity and also diversify their line of business.

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Statistically measuring the deviation from perfection, based on the number of defects per million units is sigma. There are different…

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Lean Six Sigma Role in Organization Development

An organization’s development depends on the ability to satisfy its customers and at the same time maintain a healthy bottom line. Lean…

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Why Lean Six Sigma is Important?

Considering the current market scenario where customers have plenty of options, it becomes obvious, ‘why they are more appealed by qu...

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This is an era where companies fight at every level to provide the best experience to the customers. The war among firms to retain their customers and...

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All you need to know about Fishbone Diagrams

A fishbone diagram, also known as cause & effect diagram, is a visualization tool which categorizes potential causes of a problem to i...

If we discuss its role in Six-Sigma, fishbone diagrams are used during the “analyse” phase of DMAIC approach to dig to the root cause of a problem. It makes the brainstorming sessions productive. Frequently it is observed that such sessions don’t bring out useful ideas or information, but using the fishbone diagram tool with it translates it into a well-structured form and unveils unobvious potential causes.

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Lean Six Sigma in IT Service Management

Lean Six Sigma (LSS) is known for process improvement & reducing operational costs based on statistics. It helps map, measure & improve…

Lean Six Sigma (LSS) is known for process improvement & reducing operational costs based on statistics. It helps map, measure & improve the quality of a process. Incorporating it in IT, helps develop detailed work instructions & manage its services to increase their service quality.

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KPMG Lean Six Sigma Green Belt Training in Bengaluru, A 4-day thorough 32 hour programme designed with adaptive learning methodology. The programme is delivered by senior KPMG in India professionals. It orients participants towards fact- based decision making, use data to draw business conclusions, analyse current trends and matrices for their practical use, conduct in- depth cause analysis and innovate for performance improvement. It brings practical demonstration of statistical tools and provides an opportunity to practise in a mini- group setup.

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Why should You Do Lean Six Sigma Green Belt Certification?

- Albert Einstein

Lean Six Sigma is not just a hypothetical model but a practical solution to almost all the problems that involve any kind of process. But before we proceed with the discussion on Lean Six Sigma, the question that needs to be answered is “Why should one do Lean Six Sigma Green Belt Certification ?”

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How To Solve The Biggest Problems With Lean Six Sigma Green Belt Training

A business is known to be successful, provided it has satisfied customers and a healthy bottom line. To maintain such a position, it has to know & understand the customer expectations & keep improving its processes & ability to meet customer needs. To understand customers, their feedback is important which at times comes in the form of complaints, returns & refunds. Data can also be collected through interviews, e-mail surveys & few other ways. The data then helps to determine the processes & problems contributing most to customer dissatisfaction. A green bet is empowered to analyse this recorded data and identify Six Sigma projects to improve customer satisfaction which translates to increased revenue.

When a problem is discovered, usually the response is to rush to a solution. Doing this is satisfying, but it’s not the efficient way, as the same problem will have to be solved again & again. If solutions, without the touch of LSS is applied, it may result in managing the symptom, but not the root cause. Green belt training empowers to find & eliminate the root cause, which can either be one or a series of causes, one leading to another. The DMAIC methodology provides and effective & efficient way to accomplish this goal.

The 1st step in the process is to define the problem. What does the organization want to prevent? At what point & time is it occurring? To find this out, what customer expects and what the organization delivers, has to be compared. After the problem is defined, efforts are put to reveal the root cause of the problem. This is done by collecting data relative to the problem & identifying why the problem exists. This root cause analysis will be the base for solution which will prevent recurrence of the problem by eliminating the cause. Once the root cause is uncovered, solutions are identified & the best one is exercised which prevents problems from recurring & at the same time is aligned towards meeting the customer needs.

Proper decision making for problem solving has always been a crucial aspect for organizations to grow. Apart from root cause analysis, Green belt training also empowers one with hypothesis testing tools which uses statistical analysis to determine whether the recorded differences between two or more samples are by chance or the differences are true. It explores relationship’s statistical significance in experimental setting. The results of the test allow examining cause & effect while making crucial business decisions.

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LEAN SIX SIGMA APPLICABILITY IN STARTUPS AND SMALL BUSINESSES

Startups are companies initiated by entrepreneurs or individual founders to search for a scalable business model and start new businesses that intend to grow beyond the solo founder and have employees and work at a large scale.  Startups face high uncertainty and do have high rates of failure, but the minority that goes on to be successful companies have the potential to become large and influential. Some startups become unicorns, i.e. privately held startup companies valued at over US$1 billion. Startups usually begin by problem interviews, solution interviews, and building a prototype, to develop their business models. Using heuristics and biases in startups by founders and co-founders is quite common as due to lack of information and high uncertainty the need to make quick decisions arises of and on. They also end up becoming overconfident in making decisions and reach conclusions about the larger population using a limited sample. Since they are nascent entrepreneurs and new in the business world, they may have less experience due to which they even try to seek feedback from their mentors who guide them but to a certain extent. To become attractive business partners and highlight their existence, startups need to align their internal features including their products and services with the market situation. The failure rate of startup companies is very high. A 2014 article in Fortune estimated that 90% of startups ultimately fail. In a sample of 101 unsuccessful startups, the top five factors in failure were lack of consumer interest in the product or service (42% of failures); funding or cash problems (29%); personnel or staffing problems (23%); competition from rival companies (19%); and problems with pricing of the product or service (18%). Startups typically operate under a lack of resources, have little or no operating history and consist of individuals with little practical experience and therefore it is possible to simulate startups in a classroom setting with reasonable accuracy. Many institutions and universities provide training on startups. Some of them are entrepreneurship courses that also deal with the topic of startups, while other courses are specifically dedicated to startups. The knowledge of Lean Six Sigma and its application can help the startups and small businesses overcome their shortcomings and if its methodologies are applied from the very beginning it could result in high savings, especially in a business that produces a high volume of standard products or services every day. The first step to start implementing Six-Sigma is to train the management team and all the employees on the basics of Six Sigma and the DMAIC methodology. This will help the company in improving the project by project and implementing theory right away. Lean Six Sigma is a continuous improvement technique that can boost any organization’s profit and productivity by its integrating processes. It can decrease an organization’s cost in several ways and help in eliminating needless actions from any process. Also, it allows an organization to divide resources or revenue to create efficient processes. With so many advantages it is evident that lean six sigma application can help any startup and small business to flourish and make its mark. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at [phone] or [phone]. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme

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LEAN SIX SIGMA APPLICATION IN TEXTILE INDUSTRY

The Indian textile industry is an extremely varied and widespread industry. It is one of the oldest industries with hand-woven and hand-spun textile sectors at one end of the spectrum and capital-intensive mills sector at the other end.  India's overall textile exports during FY 2017-18 stood at US$ 39.2 billion in FY18 and is expected to increase to US$ 82.00 billion by 2021 from US$ 31.65 billion in FY19 (up to Jan 19). The decentralized knitting sector and power looms form the largest component of the textiles sector. This industry has the capacity to produce products for different markets spread across the globe. Lean six sigma minimizes process variations and product or service defects by using statistical techniques and tools to identify and implement changes in the working of the business process to make it effective and efficient. These techniques and methodologies if applied in a structured manner can improve any company’s performance. Lean six sigma eliminates wastes and defects and reduces resources’ usage if everyday business activities are designed and monitored closely. It provides techniques and tools which improve the performance and capability of any business and provides efficient manpower cultivation and utilization. The application and usage of the seven basic tools in a Lean Six Sigma process- cause and effect diagram, check sheet, control chart, scatter diagram, histogram , Pareto chart, scatter diagram and stratification together help in identifying the defects and keeping a close eye on the functioning of the ongoing business process that further helps in aligning key business processes to achieve those requirements, understanding and managing customer requirements and also, driving rapid and sustainable improvement to business processes. The sigma scale is perfectly correlated to characteristics such as defects per unit, parts per million defective and probability of a failure or error. This clearly shows the scope and way for further improvement by indicating the flaw in the process, if any. Six Sigma models like DMAIC AND DMADV are used extensively to improve the existing processes and employ the new products, respectively. Applying Lean Six Sigma in textile industry reduces rejections in shipments, eliminates defects or errors, improves merchandiser performance, improves supplier evaluation processes that are extremely important and first sample approval percentages while working with a buyer. Using 6s methodologies also improves processes at the source (including embroidery, packing, stitching, and shipping) to reduce rejections later. Proper implementation of six sigma in the textile industry can reduce the garment cost, get higher production and that too with good quality. Textile industry deals with a lot of variation and defects and is, therefore, the exact place for six sigma application. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at [phone] or [phone]. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme

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Lean in IT | Information Technology

Lean is concerned with reducing wastage. Lean in IT is extension of lean in manufacturing and services to the development and management of IT services. The central idea is the same which is elimination of waste, where waste is work that adds no value to a product or service.

Lean principles are commonly established and have extensive relevance in manufacturing, its connection from manufacturing to IT is still emerging. Lean IT presents extreme difficulties for experts. While Lean IT activities can have limited scope even though it gives results rapidly, executing Lean IT is a proceeding and long haul process that may take a very long time before lean procedures become characteristic for an organisation's culture.

The reason why lean came into the IT picture is because Industry analysts have identified similar analogues between IT and manufacturing. These days a virtual revolution is going on. Every industry or business is migrating towards greater use of online or e-business services, without proficient IT division, numerous organizations would go to a dramatic end, or will be really inefficient to fulfill client needs.

Lean IT centers around increasing customer value by limiting waste, where waste is work that decreases or doesn't add to the value of a product or a service. The main motive is to accomplish operational excellence through improved agility, administration quality and overall efficiency. The extent of Lean IT is to build up a culture of persistent improvement to convey IT operational excellence and business value to a company. The IT firm is expected to "align with the business". That is, IT is assumed to empower business performance and development, improve administration levels, oversee change, exploit new and upcoming advancements in technology, and keep up quality and stability, all while consistently lowering working expenses.

Number of huge firms like Honeywell and Textron designed their own version of Six Sigma which has been tailored to their line of business and majority of times combined with Lean, which is another technique used in the manufacturing sector designed to eliminate non-value-adding sub-processes which will be their IT waste. Other organizations also use the DMAIC model as per their need, for example Chase Financial added a step called ‘implement’.

Lean, six sigma or lean sigma benefits the IT sector in the following ways-

1.    Enhances efficiency and effectiveness of the IT processes of the business

2.    Decreases operating costs

3.    Improves value for customer

4.    Increases the speed of operations

5.    Increases workforce productivity

6.    Improves quality of performance of products and services

7.    Enables stability with operational efficiency and control

Lean six sigma is appreciated by many CIOs. But the point here is that six sigma is a set of tools and is not rigid. There is no prescribed procedure and one has to determine what suits best for the business.

For KPMG Lean Six Sigma Training inquiry mail to [email protected] or call at [phone] or [phone].

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KEY BENEFITS OF KPMG LEAN SIX SIGMA BLACK BELT TRAINING

Lean Six Sigma Black Belt training is designed to help individuals master the concept of Lean and Six Sigma methodologies that are complementary; Lean is the set of tools that assist in the identification and steady elimination of waste, Six Sigma is a process improvement technique where the aim is to improve quality. Lean Six Sigma works with any process, product or service that has a definable and measurable performance goal as its working relies heavily on data.

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7 Reasons why people get a Lean Six Sigma certification

Six Sigma, well known for its statistical tools was founded in the early 1980s by Motorola. It is a process improvement technique that aims to improve quality. It works on the DMAIC (Define, Measure, Analyze, Improve, Control) methodologies and can be thought of as a measure of process performance, based on defects per million. This disciplined, continuous, statistics-based methodology has been built specially to eliminate defects in a process, product or service. Lean Six Sigma combines tools, methods, principles of Lean and Six Sigma into a single powerful methodology to facilitate the improvement of organizational operations. This methodology has largely been accepted and adopted by big firms, global companies, startups, and even small businesses. Lean Six Sigma certification demonstrates the ability of a professional to improve the business standards and increase the efficiency of the organization he or she is working in. Some other reasons why people get Lean Six Sigma certification are- Increases managerial skills: Completing a Lean Six Sigma certification course helps you have a clear understanding of quantifying and measuring financial benefits and acquiring risk assessment and financial management skills. Applicable and valuable in every industry: Lean Six Sigma techniques are applicable in IT, Manufacturing, Service, Pharmaceutical and many more industries. Individuals having Lean Six Sigma certification have knowledge about many methodologies that can be used to increase profits and improve the efficiency of any business process irrespective of any industry. Excellent Salary: Clearing Lean Six Sigma exams is not an easy task. It requires a lot of understanding, knowledge, and experience. Therefore, individuals with Lean Six Sigma certification are well paid and are among the highest-paid professionals globally. Experience in quality management: As a certified Lean Six Sigma professional you’ll have the knowledge and understanding of applying theoretical knowledge in reality. Also, you’ll have more valuable experience than the other workforce. Improve business processes: As a certified Lean Six Sigma professional you’ll be able to investigate, analyze and develop business processes and review the current processes to know their impact. Develops innovation: Lean Six Sigma encourages teamwork and develops innovative thinking in the decision-making process in whichever organization it is applied in. This leads to better solutions and the promotion of new ideas and possibilities. Strategic Planning: Lean Six Sigma certification increases your ability to plan strategically and focus on the important area of concern for improvement. It eliminates unnecessary complexity, and this helps you make your company achieve the targets. The promising success of Lean Six Sigma cannot be overlooked, and the benefits derived from its training are endless. It not only benefits an individual certified in it but also the organization applying it in its process. Using Lean Six Sigma is a journey in itself during which an organization transforms rapidly and experiences significant improvement. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at [phone] or [phone]. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme