Coronavirus Affecting Businesses All Over

Throughout the course of history, disease outbreaks have ravaged human race. Day by day, and piece by piece, people have seen their lives taking turns that they never imagined. As human civilisation flourished over time, it also took a leap for infectious disease. 

This is not the first time that the world is going through a pandemic. The 1918 influenza pandemic, also called the Spanish Flu, was an unusually deadly pandemic that infected about a quarter of the world’s population at that time in a span of almost three years. It had a devastated impact on businesses all across Europe and the US.

It is said that the estimated overall loss to the US based businesses was in double digits percentage drop in comparison to others. The 2020 coronavirus pandemic is no different. With fear in minds of all and the world in disarray, Covid19 has created a ripple effect in the world’s economy.

It’s not easy to sustain a business during a pandemic that no one saw coming. Companies are grappling with the upheaval wrought by the Covid-19 pandemic. It has forced businesses to step back and practice social distancing for good. According to experts, companies all over the world are ready to see a giant slowdown in growth during this financial year. 

Times like these calls for adopting approaches that would help a business to survive this crisis. By keeping in mind that it is a tough time for all and not just one, being empathetic tops the list of what to do and what not to do. The outbreak is moving quickly and because of the dynamic nature of a pandemic, the challenges that organisations are facing also changes.

The work from home structure has already altered the format that a company works in. With all the sectors being shut, there is possibly no way to function like before. It is best to undertake approaches that would help to sustain the employees, clients and suppliers while navigating the financial and operational challenges. The consequences of the pandemic are yet to be fully disclosed but what’s confirmed is that companies are going to suffer financially. 

Circumstances like these asks for handling a situation with the best of methods like Lean Six Sigma that would allow a business to apply right kind of mindset and tactics to achieve its objectives. It would help to increase the efficiency and the productivity of a business by eliminating waste that do not add value to the product. 

By adopting Lean Six Sigma program, one can benefit with cost reduction and avoiding unnecessary overproduction that leads to excessive inventory. Strategising plans and executing them accordingly are always said to be effective as it not only eliminate variations but also increases the value of a business as a whole in all. 

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Coronavirus, IT sector and Lean Six Sigma

Understanding the impact of coronavirus on IT sector and how LSS can help during a pandemic.

India has become a visible hub for ‘digital skills and capabilities’ with around 75% of global digital talent present in the country. It is transforming into a digital economy with the industry being the largest employer within private sector. According to an article, liberalisation in India was possible only because of its IT industry. In early 1990’s, the industry started off with an export of around $100 million with only 5000 employees. With time, the industry thrived globally and now has exports of around $70 billion with 2.8 million employees all over. 

The IT industry is heavily influenced and dependent on factors like the global market and sustenance of its rate of growth. The sudden wake of coronavirus in China disrupted the global supply chains gradually and now when the outbreak has grown globally, the consequences have become far reaching and less predictable. The pandemic has impacted trade worldwide, and the growth for India’s IT services are going to be a huge challenge in the coming financial year. The fortunes of the Indian IT sector are most likely dependent on the economies of the western hemisphere. The US and European markets are both staggering due to the rise in number of cases and therefore, the businesses of most of the clients of the India IT sector are going down. The scare of virus forced the government to impose restrictions on movement of people which in turn impacted the ability organisations to deliver services of site. 

There is no doubt that during these tough times, digital tools are proving to be more vital than ever. Millions of people under lockdown are now turning into digital means to continue with their daily lives. In times like these, technology is the only solution that could act as a catalyst to magnify the revenues. 

Organisations have already identified virtual reality as a possible tool to not just boost up the uptake of technology but also to improve employee training in this season of work from home. Employee training would help to build up the morale of employees resulting in higher productivity of workers by imparting an additional skill set. 

Programs like Lean Six Sigma encourages employees to reach their potential by working towards the goals of an organisation and make a way for operational excellence. It is a combination of two popular continuous improvement methods- Lean and Six Sigma that helps in identifying waste and eliminating them as they do not add any value to the product. 

Lean Six Sigma is a strategy for improving employee engagement as they are considered as the most valuable resource in a company for identifying inefficient or unnecessary steps in their operations. Adopting LSS becomes a key to achieve maximum return on investment. Employees could realise the increased sense of their impact on a company’s profits and in return, would work efficiently.

For KPMG Lean Six Sigma Training registrations

mail to in-fmsixsigma@kpmg.com or call at

+91 9555688555 or +91 9022033666

Lean Six Sigma Black Belt Training Programme

Lean Six Sigma Green Belt Training Programme

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. The inadequate receivables during this pandemic are likely to impact the cash positions of the companies. 

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. 

It is seen that companies that execute their operations using Lean Six Sigma have leveraged from the best problem-solving methods to help their organisations achieve their missions and satisfy their customer needs. 

Lean six sigma has shown to be the most predominant in use with indicating that it has actively helped in maximising the OTC processes of the companies. An improvement in the operations of management can result in permanent advancement of cash flow and a significant improve in the OTC processes associated with collections and corrections of accounts. In a competitive market space, customers are more likely to value corporate stewardship and attuned to quality expertise. In a survey, it is found that two-thirds of customers would prefer to build a relationship with the companies that contribute to the good of the society.

It is always beneficial to work with the help of various programs and models to increase the efficiency of your business and identify the loopholes before-hand. Organisations can achieve a dramatic increase in both quality and sustainability by adopting a single process methodology: Lean Six Sigma. 

The seven cash flow drivers- accounts payable, accounts receivable, revenue growth, gross margin, selling/general & administrative expense, capital expenditure and inventory can be controlled and managed in a way that doesn’t affect the cash position of an organisation in a heap. By investing and committing to the methodology, one can facilitate the following positive improvements: 

• Value for the customer
• Increased workforce productivity and morale
• More fluid strategic position
• Stronger competitive stance
• Standards driven achievement 
• Better Innovation
• Healthier bottom line

For KPMG Lean Six Sigma Training registrations

mail to in-fmsixsigma@kpmg.com or call at

+91 9555688555 or +91 9022033666.

Lean Six Sigma Black Belt Training Programme

Lean Six Sigma Green Belt Training Programme

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 quality than ever before?’. Organizations have adopted a good level of quality in what they offer to their customers.

What can help an organization stand out from the crowd & be in the good books of its customers? Answer would be; greater value at a lower price. Image the pull if you manage to serve your customers better, that too charging them less.

But, is it even possible? Yes, it is. Lean Six Sigma helps you reach there. Lean & Six Sigma are two different concepts; where the former aims at eliminating waste while the later at reducing variations. Being able to eliminate waste saves cost, which helps you gain edge from the price perspective. At the same time, reduction in variation helps in delivering quality product, which results in greater customer satisfaction. Service, delivery & quality are the factors which drive business to an organization, & implication of lean six sigma can improve all of these.

LSS not only increases productivity, it also has a positive impact on the work force. Surveys show that it triggers positive attitude & satisfaction within the work place.

When the processes are improved & standardized with the help of LSS methodologies & tools, reduced waste & increased customer satisfaction, promotes fewer returns, resulting in higher profitability. Apart from a measurable healthy bottom-line, LSS drags in few unmeasurable but important outcomes like enhanced brand reputation & customer goodwill.

Checkout Lean Six Sigma training schedule

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 identify its root cause. Many a times employees try to resolve problems but they end up working over the symptoms instead of the root cause. This tool helps employees avoid solutions that merely addresses the symptoms of much larger problems.

It is used during brainstorming sessions to plot all the possible causes of a problem, which later are ranked as per their level of importance in a diagram form. The diagram looks like a fish skeleton, where large bone branches out smaller bones which contains more details.

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.

How is this diagram prepared? The central problem or effect is paced on the extreme right of the diagram & a horizontal arrow is drawn running to it. Categories of causes are written as branches from the main arrow. All the possible causes of the problem are written as a branch from the relevant category. Causes are given branches which then mentions sub-causes. “Why?” is continued to be asked to find deeper level of causes.

Lean Six Sigma Green Belt Certification

Lean Six Sigma Black Belt Certification

WHO SHOULD DO LEAN SIX SIGMA TRAINING

Lean Six Sigma is a continuous process improvement technique that combines tools, methods, principles to improve organizational operations. It is an adaptable technique that can be changed according to the necessities of the organization to achieve desired results. This team-oriented process’s main objective is elimination of waste.

Numerous companies are implementing Lean Six Sigma into their business processes and hiring professionals who have attained Lean Six Sigma certification. A certification course in Lean Six Sigma is a course where participants receive an introduction to tools and methods that are important to participate in DMAIC projects. It is a great way to improve your capabilities as a leader in your organization. The training process has different levels like the Yellow belt, Green belt, Black belt, and Master black belt. All these belts have different levels of understanding and play different roles. Also, they have different eligibility criteria in which an individual must pass certain examinations.
Yellow belt certification teaches the basics about the application of tools and methods to the individuals who begin training. It is for those who lead limited development projects. There is no experience requirement, but each candidate is required to pass an hour-long written examination of 85 MCQs offered in English language. Green belt certification is for those who are serving in data collection and analysis projects.

A Lean Six Sigma Green belt knows how to implement the Lean Six Sigma at high levels in the business process. For this the candidates are required to have a full-time experience of 3 years and pass a 4-hour long examination having 100 MCQ; offered only in English language. Common positions suited for Green Belts include mid- to upper-level project managers, process engineers, consultants and manufacturing engineers. Black Belt is for team leaders who manage big improvement, aspirants for data analytics, research, waste reduction, and service efficiency. They have a thorough understanding of the Lean Six Sigma phases. Candidates need to complete two projects with signed affidavits or one completed project with signed affidavit and three years of work experience in one or more areas of the Black Belt Body of knowledge. Clearing a 4 hour-long written examination of 150 MCQs offered in English language is the next step. After clearing the examination if you further want to have the Master Black Belt certification you must hold a current ASQ Certified Six Sigma Black Belt Certificate or at least 5 years of work experience in the role of Six Sigma Black Belt and pass a 5 hour long examination comprising of 100 MCQs and a couple of essay type questions.

With the increasing awareness about Lean Six Sigma in small and medium enterprises, it will slowly be applied to every business process of an organization. This suggests that the scope of Six Sigma is much broader than other quality management programs and it may outlast them in the future.

For KPMG Lean Six Sigma Training registrations mail to in-fmsixsigma@kpmg.com or call at +91 9555688555 or +91 9022033666.

Lean Six Sigma Black Belt Training Programme
Lean Six Sigma Green Belt Training Programme

PROCESS IMPROVEMENT IN THE AGE OF SMART MANUFACTURING

Smart manufacturing is a broad concept that involves a combination of various technologies’ implementation in a manufacturing ecosystem. It employs computer-integrated manufacturing, digital information, technologies, and solutions. These technologies and solutions are called enablers which optimize the manufacturing process and increase the overall profits. Some of the enablers being used currently are- artificial intelligence, robotics, cybersecurity, Industrial internet of things (IIoT) and blockchain. The main goal of smart manufacturing is efficient production and recyclability, fast changes in production levels based on demand and optimization of the supply chain.

The industrial revolution began nearly 260 years ago and has since then witnessed a lot of change. The first industrial revolution involved the usage of steam power and power loom and the second one saw the introduction of the assembly line. The third industrial revolution began much later during the 1970s in which automation and data-enhanced automation came into being. But the greatest revolution of them all, the fourth industrial revolution, that began nearly 20 years ago saw technology change the nature of manufacturing completely. Automation has become a significant advantage in today’s manufacturing because of the penetration of computers and technology. It is continuously setting the standards for the industry and has become an important determining factor of whether or not a company will remain competitive within the industry. Smart manufacturing has allowed companies to produce products at outstanding speed and great quality.

Smart manufacturing has several benefits. It improves efficiency, increases productivity and saves cost. An automated machine reduces production time and speeds up the process as it needs no thinking. When an automated machine performs a task the accuracy and repeatability as compared to an employee is much greater. Also, fewer employees are needed to get the job done which reduces numerous costs. Investment in automated equipment leads to large production volumes which in turn increases profitability. While there are so many advantages of smart manufacturing there are some disadvantages as well that shouldn’t be overlooked. Not only does it increase unemployment, but it is a large initial investment depending upon the type and degree of automation. Also, there are many unpredictable costs including maintenance costs, costs of automating a process and training employees to operate automated machines. This may cause an increase in production costs and reduce profits if not monitored and taken care of properly. A perfect process means a perfect product. A process improvement methodology like Lean Six Sigma uses techniques and methodologies to increase efficiency and profits are required to be implemented to reduce these defects so that the company stands a long chance in the competitive world out there. Lean Six Sigma is a culture of learning and continuous improvement. Introducing IT and smart manufacturing to Lean Six Sigma will merge process and culture into a single approach which will stimulate inventiveness. By analyzing the data and thinking of solutions using the DMAIC approach, even the slightest of errors that would have otherwise been overlooked can be spotted and worked upon.

The main aim of smart manufacturing is to use a technology-driven approach to monitor the production process and optimize manufacturing. It enables the use of data analytics to improve the manufacturing process. Just like smart manufacturing, the aim of Lean Six Sigma too is to use certain tools and techniques for data analysis to cut down production costs and increase profits by dramatically improving every process in an industry; financial, operational or production. Its use represents a mindset shift and is driven by the people whose main is to satisfy customers’ demands and improve their outcomes.

For KPMG Lean Six Sigma Training registrations mail to in-fmsixsigma@kpmg.com or call at +91 9555688555 or +91 9022033666 

Lean Six Sigma Black Belt Training Programme
Lean Six Sigma Green Belt Training Programme