Transformation using Lean Six Sigma measures for service processes
AbstractMeasuring the performance of your processes is the first step in transforming your business. If you do not know something about your business, then you cannot improve it. I believe you should have measures in place for understanding your business performance all the time. They should be continuously measured, and whenever possible put on some type of control or metric chart which allows you to monitor trends that are occurring. When you have these measures, you can then make improvements whenever it is determined that you have a gap between where the processes are performing and where you need to be performing to compete. In this article, I have discussed establishing those measures, and given some examples of measures within the financial industry. I have also shared some tools, such as the SIPOC, measures matrix, and how to clarify your customer’s needs.
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Bibliographic InfoArticle provided by Capco Institute in its journal Journal of Financial Transformation.
Volume (Year): 18 (2006)
Issue (Month): ()
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Postal: 120 Broadway, 29th Floor New York, NY 10271
Phone: +1 212 284 8600
Web page: http://www.capco.com/
Six sigma; new management techniques; SIPOC; metric charts;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
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