If we were to eliminate Wastes in any form, how would we be able to convert the waste into dollar value in order to convince a Bank to start adopting Lean?
The calculation you’re looking for is COPQ or Cost of Poor Quality. The idea is to calculate the labor hours saved by removing waste and then multiply them by the average loaded salary of the process participants impacted. In the…
Elisabeth is a Managing Partner at GoLeanSixSigma.com, the co-author of The Problem-Solver’s Toolkit and co-host of the Just-in-Time Cafe. For over 25 years, she's helped leading organizations like Amazon, Charles Schwab and Starwood Hotels & Resorts build problem-solving muscles with Lean Six Sigma to achieve their goals.
Yes, some knowledge of statistics is good. We have had people with no statistics background go through our courses, and they were able to understand the concepts and follow along. So, it’s not required.
If you look at the purpose and benefits of Lean Six Sigma, and compare those benefits to the goals an organization has, there is likely a connection between the two. Of course, the specifics of exactly how the connection will…
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