Question

Identify a company that has implemented, Lean and report a significant quantitative measure of improvement.

Identify a company that has implemented, Six Sigma and report a significant quantitative measure of improvement.

Identify a company that has implemented, Lean Six Sigma and report a significant quantitative measure of improvement.

Answer 1

MEANING OF LEAN PROCESS

Lean manufacturing and lean accounting mean eliminating all wastes that are occurs during the production of the product to optimize the cost.

In lean accounting focus is on the  cost optimization. We can understand this by equation=PRICE- COST= PROFIT

We cannot control the price as the price is market driven but we can control the cost which is the main aim of the lean accounting. Profit will automatically increase if we control the cost.But in case of standard accounting procedure equation is COST+ PROFIT=PRICE. Its mean that more focus is on the profit in case of traditional accounting rather than on cost optimization as in the case of lean accounting

COMPANY THAT HAS IMPLEMENTED LEAN PROCESS

• Toyota
• Intel
• John Deere

SIX SIGMA

It is the  data-driven problem-solving methodology.The whole focus is on the customer satisfaction and process variation.One of the goal of Six Sigma is to improve the process continuously with low defect in the process.The aim of Six Sigma is to make a process effective with - 99.99996 % defect free

COMPANIES THAT HAS IMPLEMENTED THE SIX SIGMA PROCESS

• 3M
• Amazon
• Bank of America

LEAN SIX SIGMA

Lean Six Sigma is the Combination of both, the lean and the Six Sigma.The principle of lean help  to reduce the waste process at the same time the principle of Six Sigma focuses on process variation.

• McKesson Corporation
• Abbot

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