Training Archives - 6sigma https://6sigma.com/category/training/ Six Sigma Certification and Training Wed, 20 Oct 2021 12:59:04 +0000 en-US hourly 1 https://6sigma.com/wp-content/uploads/2021/03/cropped-favicon-blue-68x68.png Training Archives - 6sigma https://6sigma.com/category/training/ 32 32 Our Best Master Six Sigma Instructors Always Produce Great Results https://6sigma.com/our-best-master-six-sigma-instructors-always-produce-great-results/ https://6sigma.com/our-best-master-six-sigma-instructors-always-produce-great-results/#respond Tue, 06 Oct 2020 18:29:41 +0000 https://6sigma.com/?p=27372 Our virtual classrooms and self-paced online classes are among the best in the world, because we are one of the first to take online courses extremely seriously and have had years to perfect it. Many institutions went online during the pandemic, but we were doing this way before as an option for busy […]

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Our virtual classrooms and self-paced online classes are among the best in the world, because we are one of the first to take online courses extremely seriously and have had years to perfect it. Many institutions went online during the pandemic, but we were doing this way before as an option for busy people. Our goal was always to grow and pass the word of Six Sigma, because it works! 

We also believe that great instructors will always produce great results, and we were right! Many of our students have gone on to become very successful in their Six Sigma endeavors. That is directly because we start with great instructors who are also involved in the world of Six Sigma. In other words, they practice what they preach.

However, not all who are experts in Six Sigma can teach. Teaching is an art form and the ability to do so is something you are born with. We only have those types of masters who conduct our classes. So you won’t get book theory instructors with our classes — you only get the cream of the crop. 

The Top Master Black Belt Instructors Yield Top Results 

Our Lean Six Sigma virtual classroom programs are delivered live by 6Sigma.com experienced Master Black Belts who typically bring ten to thirty years of real world, hands-on experience implementing Lean and Six Sigma. 

Our interactive virtual training programs give students the chance to pose questions during the class. These online virtual training programs discuss the history, philosophies, techniques, and tools of Lean and Six Sigma in a common language for a thorough understanding by those in attendance. 

The same certification is provided as our live in-person programs.

LIMITED TIME OPPORTUNITY: Receive $500 off OR a 1-year license of Minitab when registering for Green Belt & Black Belt virtual instructor-led training. The limited-time offer expires on October 22, 2020.

Take advantage of this great opportunity. It is a win/win! For more information on this offer or other courses and services please visit 6sigma.com

Learn more about our training and courses

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Doctors, Accountants, IT, and Six Sigma Professionals All Do This https://6sigma.com/doctors-accountants-it-and-six-sigma-professionals-all-do-this/ https://6sigma.com/doctors-accountants-it-and-six-sigma-professionals-all-do-this/#respond Mon, 05 Aug 2019 21:11:55 +0000 https://6sigma.com/?p=23428 Doctors, accountants, IT pros, and Six Sigma consultants — what do all these professionals do? They continuously upgrade their education. Why? With new evolving business practices, the globalization of industry, and new technologies, there is a need to keep up.

Most professionals keep going to classes to keep up with the latest changes in their […]

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Doctors, accountants, IT pros, and Six Sigma consultants — what do all these professionals do? They continuously upgrade their education. Why? With new evolving business practices, the globalization of industry, and new technologies, there is a need to keep up.

six sigma professionals

Most professionals keep going to classes to keep up with the latest changes in their industries. Every year, CPAs have to learn the new laws and regulations that apply to this year’s tax return. They do this so they are current with the latest tax codes and can service their clients properly. True proponents of Six Sigma aren’t any different. Those in set industries that deal in customer service, quality control, manufacturing, and just about anything that has to do with business and making a profit and fulfilling customer requirements need to stay educated. 

So new and interesting ways to apply DMAIC to an industry that wasn’t around back when Six Sigma are constantly being created. The good part of this equation is with all the new advancements in technology, the gathering of data that Six Sigma requires is an easy step. 

One can compare the importance of constant affiliation with a well-established and reputable Six Sigma organization to a top medical school for research purposes. The process of learning is an important one, and requires constant attention and commitment. When you have an entire community of like-minded professionals, that is genius waiting to happen.

For more information on our Lean Six Sigma services and courses, please check here. 

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We Are the Champions…of Six Sigma https://6sigma.com/we-are-the-champions-six-sigma/ https://6sigma.com/we-are-the-champions-six-sigma/#respond Tue, 15 Jan 2019 18:25:55 +0000 https://6sigma.com/?p=22871 The role of Six Sigma Champion makes the undertaking of a project all the way to its completion much easier. The Six Sigma Champion helps guide the team through the entire process and act as an organizational cheerleader. Here are some of their responsibilities:

  • Guide and advise Six Sigma teams
  • Keep the team focused
  • […]

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    ]]> The role of Six Sigma Champion makes the undertaking of a project all the way to its completion much easier. The Six Sigma Champion helps guide the team through the entire process and act as an organizational cheerleader. Here are some of their responsibilities:

    • Guide and advise Six Sigma teams
    • Keep the team focused
    • Remove any roadblocks the team might encounter
    • Ensure the projects are in agreement with the organization’s strategic plan
    • Responsible for timely completion of Six Sigma projects 

    six sigma champion training

    Onsite Six Sigma Champion Training Includes:

    • How to Get Started with Six Sigma
    • Six Sigma Highlights
    • Comprehensive Project Samples
    • Thorough Project Charter Models
    • Strategy and Benefits of Six Sigma
    • Project Selection Process
    • What is Lean Six Sigma
    • Capability Analysis
    • Six Sigma Deployment (How to Select Black Belts)
    • Creation of Six Sigma Project Metrics
    • Integration of Lean and Six Sigma
    • Applying Six Sigma to Business Processes
    • Tracking and Managing Six Sigma Projects
    • Managing Change in the Six Sigma Process
    • Financial Guidelines for Six Sigma Projects

    The Six Sigma Champion program provides an overview of what Lean Six Sigma projects are all about and helps leaders pinpoint how to support and integrate Six Sigma implementation into their organization. In addition to picking specific projects, Champions also choose and mentor Lean Six Sigma project leaders, also known as “Belts.” Our program goes beyond traditional training, providing an option that is based on Six Sigma leadership. This course is thorough and accurate because we don’t cut corners with knowledge.

    Enrolling in the Champion program provides leaders and executives the opportunity to learn the basics of Lean Six Sigma and the skills necessary to choose worthwhile projects that are based on the mission and goals of the business.

    For more information on the Six Sigma Champion program and many others, please visit 6sigma.com. 

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    https://6sigma.com/we-are-the-champions-six-sigma/feed/ 0 Six Sigma Champion Program at 6sigma.com https://6sigma.com/six-sigma-champion-program-at-6sigma-com/ https://6sigma.com/six-sigma-champion-program-at-6sigma-com/#respond Mon, 17 Dec 2018 18:51:17 +0000 https://6sigma.com/?p=22807 It’s a fact that Six Sigma implementation is the first step to working smart towards success in your business. So, are you ready to get started with Six Sigma? 

    But wait…don’t you want to find out some details on what Six Sigma is all about? Of course you do, and here’s how! Learn about […]

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    It’s a fact that Six Sigma implementation is the first step to working smart towards success in your business. So, are you ready to get started with Six Sigma? 

    But wait…don’t you want to find out some details on what Six Sigma is all about? Of course you do, and here’s how! Learn about our onsite Six Sigma Champion Training course.

    six sigma champion 6sigma.com

    Some of the topics covered include:

    • How to Get Started with Six Sigma
    • Six Sigma Highlights
    • Comprehensive Project Samples
    • Thorough Project Charter Models
    • Strategy and Benefits of Six Sigma
    • Project Selection Process
    • What is Lean Six Sigma
    • Capability Analysis
    • Six Sigma Deployment (How to Select Black Belts)
    • Creation of Six Sigma Project Metrics
    • Integration of Lean and Six Sigma
    • Applying Six Sigma to Business Processes
    • Tracking and Managing Six Sigma Projects
    • Managing Change in the Six Sigma Process
    • Financial Guidelines for Six Sigma Projects

    With this course, our Master Black Belt instructors will be available for some one-on-one with groups if they are interested in implementing Six Sigma into their business. This course is one of the most comprehensive for those just starting out in the world of Six Sigma.

    We build on the knowledge you’ve already acquired; each course we offer has been time tested. In other words, we have had much success from our students. Many have seen their business grow and become successful, and then they decide to become Master Black Belts. Six Sigma education is a priceless investment that pays high dividends when done correctly. 

    For more information on our Six Sigma courses and services, please visit 6sigma.com.

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    A Six Sigma Project Champion Will Always Champion For the Project https://6sigma.com/a-six-sigma-project-champion-will-always-champion-for-the-project/ https://6sigma.com/a-six-sigma-project-champion-will-always-champion-for-the-project/#respond Mon, 14 May 2018 15:16:25 +0000 https://6sigma.com/?p=22047 A Six Sigma Project Champion could be compared to a top of the line concierge at an elite five star hotel. That concierge has the answers, and can make your life easier if you happen to be visiting a completely unfamiliar location. They will know the best restaurants, best places to visit, or if […]

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    A Six Sigma Project Champion could be compared to a top of the line concierge at an elite five star hotel. That concierge has the answers, and can make your life easier if you happen to be visiting a completely unfamiliar location. They will know the best restaurants, best places to visit, or if you don’t know the language, they might even set you up with an interpreter. 

    The Six Sigma Project Champion is, for all intents and purposes, the one person within the entire organization that will carry the burden to make sure that the entire project comes to fruition within the timeframe specified, with the outlined goals met. 

    6sigma.com project champion

    The one main element that is important for the Six Sigma Project Champion to have is diplomacy, or better said, the ability to negotiate with all involved in the project, which includes management as well as team members.

    Important Qualities For A Six Sigma Project Champion

    • They must have the aptitude and knowledge to understand all the elements of the project.
    • They must have the ability to meet all deadlines, and at times even exceed expectations of the management.
    • The ability to inspire and motivate the team and be committed to the project’s success.
    • The ability to be a champion problem solver as well as being resourceful, in that removing obstacles so that the project will be successful. 
    • Stellar organizational skills; this is needed to keep the team focused.
    • Excellent communication skills.

    A Six Sigma Project Champion will ensure the success of a project, by eliminating any obstacles that could come up. They are also very instrumental in communicating all that needs to be done so that everyone is on the same page. The Six Sigma Project Champion’s only goal is the complete success of the project. 

    After the current project is completed, the Six Sigma Project Champion is rallying up the next project, thus earning his title of champion.

    For more information on our Six Sigma Champion training courses, please visit 6sigma.com. 

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    Make 2018 the Year of Six Sigma https://6sigma.com/make-2018-year-six-sigma/ https://6sigma.com/make-2018-year-six-sigma/#respond Mon, 01 Jan 2018 17:11:43 +0000 https://6sigma.com/?p=21760 Someone once said, “The solution is in the problem.” Well, they must have had their Six Sigma certification with one of our belts. We offer classroom training, onsite, online training and our very popular blended training, which offers the best of both worlds.

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    Someone once said, “The solution is in the problem.” Well, they must have had their Six Sigma certification with one of our belts. We offer classroom training, onsite, online training and our very popular blended training, which offers the best of both worlds.

    Gaining the knowledge to solve a problem with an unknown cause is priceless, not to mention fun. We offer an incredible course, Root Cause Analysis, available in several cities. It is a 3-day course, and by the end, you will have a structured problem solving technique that actually works!

    Go to 6Sigma.com and choose from our numerous array of courses we offer in your town or city.

    Happy New Year from all of us here at 6Sigma.com!

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    Motivation: One Step is the Beginning of Business Success https://6sigma.com/motivation-one-step-beginning-business-success/ https://6sigma.com/motivation-one-step-beginning-business-success/#respond Sun, 05 Nov 2017 18:13:47 +0000 https://6sigma.com/?p=21704 Where does motivation stem from? What makes us get up in the morning and start our day, with a real purpose and desire to get things done? Motivation is the differential that either makes us accomplish our goals, or do nothing and be lazy.

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    Where does motivation stem from? What makes us get up in the morning and start our day, with a real purpose and desire to get things done? Motivation is the differential that either makes us accomplish our goals, or do nothing and be lazy.

    Motivation has been explained through a couple of theories, such as the Drive Theory (which is based on biological needs and the desire to feel balanced) or the Incentive Theory (which is based on the desire to accomplish goals). There’s also Maslow’s Hierarchy of Needs, which is based on our desire to fulfill the follow levels of needs (basic needs at the bottom):

    • Self-actualization
    • Aesthetic Needs
    • Need to Know
    • Self -Worth
    • Love & Belonging
    • Safety
    • Physiological

    Motivations are dependent on a basic reward system, where certain outcomes are expected in return if certain conditions are met. There are two types of motivations — Extrinsic, which originates from factors such as rewards, like money and praise from others, and Intrinsic, which come from factors originating internally within ourselves, often referred to as one’s drive.

    One way to get really motivated and drive your business forward is to take one of our Six Sigma courses. Just being in a room with like-minded people who begin to see the Six Sigma system work as they begin projects within the course syllabus is extremely inspiring. We call it a course, but you will believe it is real life because we have designed the course that way.

    So don’t waste any more time, go to 6sigma.com and register for our courses in your area, and see your business begin to change into the successful entity you have always known it could be. Even one small change can save you money in production costs — or perhaps you can reduce waste with the knowledge of Lean Six Sigma value stream analysis.

    One small Six Sigma step in your business can lead to one giant step in the future of your brand.

     

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    Six Sigma and Business Analytics: Forecasting Demand https://6sigma.com/six-sigma-business-analytics-forecasting-demand/ https://6sigma.com/six-sigma-business-analytics-forecasting-demand/#respond Mon, 28 Aug 2017 18:23:11 +0000 https://6sigma.com/?p=21588 The fastest and most effective way to be successful is with accurate projections. The best way to get hold of valid projections is through demand forecasting. The purpose of demand forecasting is to identify your business’s potential product or service demand. With more accurate data, you’ll be better prepared to make accurate pricing decisions.

    Moreover, […]

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    The fastest and most effective way to be successful is with accurate projections. The best way to get hold of valid projections is through demand forecasting. The purpose of demand forecasting is to identify your business’s potential product or service demand. With more accurate data, you’ll be better prepared to make accurate pricing decisions.

    Moreover, forecasting can also affect your business’s growth and market potential, which is why accuracy is important. There’s no use expanding into a specific market if there’s no profit there! Think of it this way: if you have fewer competitors, you can price higher, but only when demand is also high.

    When entering a new market, forecasting can provide essential insights to help you make the best decisions. Much of this comes down to estimation, but all predictions come from raw facts. You can’t refute facts. So listen to them.  You’ll be an astounding success for it. Learn how you can accurately forecast your company’s demand with Six Sigma.

     

    Useful Forecasting Techniques

    There are multiple different methods you can utilize when forecasting demand. In any business, it is typically the management and business owners that perform this role. Using historical data allows your higher-ups to identify demand for specific products and services. If demand points to something already in existence, simply take that product and deliver it to the customer. You can also use forecasting to recognize potential demand for new, different products. All you need to do then is use your findings to produce what customers want.

    Similarly, test markets can prove highly beneficial when it comes to forecasting demand. Test markets are simply a type of micro-market, generally found in cities, that reflect the demands of larger markets. Look at your test market. Is the demand high? If so, this tends to suggest a similar demand in larger markets where your product will almost certainly perform well. The only way to know for sure is to try. And with strong forecasting to back up your decisions, you’ve nothing to worry about.

     

    Why Forecasting Is Essential

    For those new to forecasting demand, we can understand you may be skeptical. All we can say is, don’t be. The key to using Six Sigma to great effect is to open your mind to new ideas. Not every business responds well to Six Sigma ideas at first but is their resistance that causes such friction in the first place.  Demand forecasting and estimation are key tools in Six Sigma businesses, both of which are integral to effective inventory management.

    Remember, businesses like yours purchase inventory based on information gleaned from demand forecasts. Imagine you have a chain of grocery stores that increase their stock of items like ice cream in summer because past data tells them demand increases then. By neglecting to utilize accurate demand forecasting, you run the risk of failing to satisfy, if not exceeding, your inventory needs. More is not always better, and too much inventory can lead to significant losses. You will lose some items, particularly perishables, as their expiration dates pass by.

    Moreover, too little inventory will have customers in uproar, leading to missed revenue opportunities. They may even turn away from you completely, losing value in the customers’ eyes. Once that happens, you’ll find it difficult to recover.

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    Six Sigma KPIs: Defining Project Cost Variance https://6sigma.com/six-sigma-and-kpis-project-cost-variance/ https://6sigma.com/six-sigma-and-kpis-project-cost-variance/#respond Sun, 27 Aug 2017 20:55:52 +0000 https://6sigma.com/?p=21579 Staying within your means is critical to managing a successful project. Sticking to your budget prevents you from overspending while helping to promote a more efficient business. The way we see it, efficiency may be key, but working within your budget is equally important. Efficiency is the journey while budgeting is the road you travel.

    […]

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    Staying within your means is critical to managing a successful project. Sticking to your budget prevents you from overspending while helping to promote a more efficient business. The way we see it, efficiency may be key, but working within your budget is equally important. Efficiency is the journey while budgeting is the road you travel.

    Ask yourself, do you want to deliver faster Six Sigma projects that don’t overstep your budgeting parameters? Then it’s essential for you to outline a detailed plan in your project charter. Your plan will act as your guide through the rough waters of process improvement.

    Key performance indicators are highly useful tools here, enabling you to identify precisely which actions benefit you as a company. As such, there are numerous KPIs to help you on your Six Sigma journey, one of which we look at today: Project Cost Variance (PCV). Join us and learn how you can use PCV to deliver Six Sigma projects on time and on budget.

    Stay Focused with Project Cost Variance

    It’s important to know that Six Sigma relies on the measurement and analysis of process issues. Controlling problems allows you to create solutions that prevent them from recurring, benefitting the business in the long- and short-term. Without a strong plan to follow, you’re likely to lose sight of your goals and business needs. Losing track of your priorities will only send you veering off budget towards slow delivery times. Moreover, this doesn’t just impact you, but also your customers, who depend on you for quality products and services. If customers don’t see any value in your services, or if they see you as unreliable, they’ll take their business elsewhere. For you, this is detrimental, but Six Sigma can help. First, however, we must define cost variance.

    What is Does Cost Variance Mean?

    A cost variance is the amount by which your project exceeds or falls under your maximum budget. Cost variance is one of two key areas that you should monitor throughout your project, the other being schedule variance, i.e., how early or late you are to meet project deadlines. You can use the following equations to calculate both cost and schedule variance:

    • Cost Variance = BCWP (budgeted cost of work performed) – ACWP (actual cost of work performed)
    • Schedule Variance = BCWP – BCWS (budgeted cost of work scheduled)

    What is Project Cost Variance?

    PCV is the process of evaluating your project’s financial performance. You should compare the budget you agreed before starting the project with the actual amount you spend. You can calculate PCV by finding the difference between BCWP and ACWP. Your ideal project cost variance should be when your BCWP equals the same as your ACWP. Your project cost variance provides otherwise unavailable insight into your finances throughout the scope of your project. Using it to your advantage allows you to monitor when and where you breach your budget. When you use PCV together with DMAIC, you can actively control your finances, targeting areas for improvement, like overspending. The result is a more focused, efficient, and successful project.

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    Deterring Fraud with Six Sigma Methodology https://6sigma.com/21573-2/ https://6sigma.com/21573-2/#respond Sat, 26 Aug 2017 21:38:40 +0000 https://6sigma.com/?p=21573 Are competitors trying to copy your organization? You never can tell when other businesses are leaching off your success. Until it’s too late, of course. Six Sigma’s non-existent governing body means fraudsters can act with relative impunity. What’s the solution to all this then? The solution is simply not to let them get away with […]

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    Are competitors trying to copy your organization? You never can tell when other businesses are leaching off your success. Until it’s too late, of course. Six Sigma’s non-existent governing body means fraudsters can act with relative impunity. What’s the solution to all this then? The solution is simply not to let them get away with it! Stand in the way of fraud with our top Six Sigma tips, as copycat competitors can lose you revenue, customers, and much more. Don’t let their philandering take its toll on your business. Here are a few ways to prepare yourself to fend off fraudulent practitioners.

    Staying Aware and Accepting the Inevitable

    It’s an unavoidable fact. If you’ve built a successful Six Sigma organization, sooner or later, someone will try to copy your success. While this is somewhat inevitable, you don’t have to sit back and accept it. Take an active hand in deterring fraudulent practitioners from stealing your business. Just look at companies like Coca Cola and Apple. There are countless rip-offs, knock-offs, fakes, and counterfeits floating around. The same is true of Six Sigma.

    Countless Counterfeits, Frequent Fraud

    Some companies try to pass their services off as the real deal via a flimsy copycat name, e.g., China’s Sunbucks, Wu Mart, and HiPhone. But Six Sigma fraudsters have the audacity to use the Six Sigma name while offering up sub-standard training services. Even more disturbing, some fake practitioners use Six Sigma as a ploy to clean out your wallets, promising the world and giving you nothing. They may recognize your success and try to piggyback off it with a similar-sounding name and list of services.

    Moreover, it’s not uncommon for criminals to send phishing emails claiming to represent your organization. We’ve even heard of fraudulent websites, whose only purpose is to draw in customers to exploit, that are virtually indistinguishable from their legitimate counterparts. As such, accepting and building an awareness of these risks is the first step to deterring fraud in the Six Sigma industry.

    Innovation is the Key to Success

    Our advice? Keep innovating in every way possible, as quickly as you can. Use Six Sigma techniques to improve your training services. Employ Lean principles and continuous improvement culture for an added triple-effect solution. Outpacing your fake competitors through sheer innovation will put you at the top of the leader board, making it clear to customers why you deserve their custom. Once they realize their bait isn’t catching, fraudulent practitioners will throw it somewhere else.

    Maintain Strong Company-Customer Relationships

    Six Sigma stresses strong reliance on data which practitioners use to make improvements. Customer satisfaction is a key driving factor behind business success and one that Six Sigma aims to improve by proxy. It’s difficult to improve customer satisfaction directly. There’s more to it than simple hocus-pocus. Six Sigma streamlines processes for added efficiency while improving quality through systematic elimination of defect. All this adds up to greater quality products delivered quickly into customers’ hands, driving up customer satisfaction rates. The key to deterring fraud is to demonstrate to customers why your business is the one they need.

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    Six Sigma and Business Analytics: Capacity https://6sigma.com/six-sigma-business-analytics-capacity/ https://6sigma.com/six-sigma-business-analytics-capacity/#respond Fri, 25 Aug 2017 17:00:01 +0000 https://6sigma.com/?p=21567 How well does your organization operate? It’s not a trick question, but it’s an important one. Six Sigma uses raw data to make justifiable changes to business processes with the aim of increasing quality and efficiency. This data is integral to your ability to make such changes, as your capacity utilization affects everything from […]

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    How well does your organization operate? It’s not a trick question, but it’s an important one. Six Sigma uses raw data to make justifiable changes to business processes with the aim of increasing quality and efficiency. This data is integral to your ability to make such changes, as your capacity utilization affects everything from efficiency and productivity to profit. Every business needs a strong revenue stream to operate and expand. But if you’re up to your ears in variation and waste, your basic operations will start to falter. You can prevent this with Six Sigma business analytics. Keep reading to learn how you can measure your operating levels with capacity analytics.

     

    What is Capacity Analytics?

     

    Remember, your capacity utilization is inextricably linked to efficiency and productivity. These two keystones enable your business to move along at a rapid pace, making prompt, proactive decisions on the go. As such, both have a large impact on profit. You can use capacity utilization analytics to measure your capacity, providing insight into how you’re currently doing. This is extremely helpful when trying to find solutions to low revenue, as you never know how much more you could be doing.

     

    While there are similarities between customer utilization analytics and employee capacity analytics, they focus on different things. The key difference is that the former focuses on machinery and equipment as opposed to employees. Modern production machinery feature sensors which collect information on their usage. You can then analyze this data to gain useful insights into your efficiency. Moreover, you can then apply Six Sigma techniques to devise improvement solutions.

     

    Your Guide to Capacity Analysis

     

    First off, decide what area you wish to assess, be it admin, production, or another sector of your business. You should lay out a plan for analyzing the data before commencing the analysis. Consider your current capacity levels. Take a holistic approach, and you will gain a holistic understanding of the issues affecting performance and inhibiting change. You can then act on this information to change your operations for the better. Moreover, the capacity types you find may vary from business to business. Don’t forget to zero-in on hard and soft capacities, as well as factors like power distribution and leadership.

     

    You should also lay out which tools and approach you wish to use. You could take an incremental approach which begins by identifying your current capacity, allowing you to build on this information, to create viable solutions. On the other hand, a gap analysis may benefit you more. This technique begins by defining the optimal conditions for your business, i.e., how they should be, so you can identify what’s missing. All you have to do then is fill in the gap.

     

    Remember, each entity within your business progresses at a different rate. Paying attention to past analyses will help you track the entity’s course from then to now, allowing you to make decisions that will affect your future capacity. Moreover, don’t fall prey to generalization, as your conclusions will suffer from inaccuracies. Pragmatism is important here as too much information can be redundant. You’ll never need to perform analysis down to the smallest detail, so don’t waste valuable time. Instead, develop strategies to expand your capacity using Six Sigma process improvement. Use business analytics well, and you can transform your organization for the better.

     

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    Six Sigma and KPIs: Customer Profitability Score https://6sigma.com/21564-2/ https://6sigma.com/21564-2/#respond Wed, 23 Aug 2017 23:00:06 +0000 https://6sigma.com/?p=21564 While it’s important to attract new customers, it’s equally important to see if they generate profit. Today, we look at customer profitability score and how it can help your business get ahead. Customers contribute differing amounts and value throughout your purchasing cycle. Customers who make positive contributions to your company’s profit have a high CPS. […]

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    While it’s important to attract new customers, it’s equally important to see if they generate profit. Today, we look at customer profitability score and how it can help your business get ahead. Customers contribute differing amounts and value throughout your purchasing cycle. Customers who make positive contributions to your company’s profit have a high CPS. These are the customers you rely on, and it’s important to differentiate them from your none-value-adding customers. Failing to do so can lead to overspending and poor decision-making, as you will continue to target customers who simply aren’t interested. By identifying and retaining the right customers, you can increase profit. Read on and learn you can use this essential KPI with Six Sigma!

     

    Calculate Your Customer Profitability Score

    To calculate your customer profitability score, simply subtract the cost of supporting a customer from the revenues they generate for you. CPS is a highly useful decision-making tool, one that is pivotal when customer-company value exchanges are in flux. The company-customer relationship is often volatile, fluctuating in response to new information. Customers don’t always value the same things, with changing needs affecting profitability. Monitoring your value stream with Six Sigma provides insight into how you can manage changes to CPS. Moreover, it can also shed light on the value of new business versus the cost of lost business. Using Six Sigma techniques like root cause analysis, affinity diagrams, DMAIC, and hypothesis testing, you can do the following:

     

    • Select customers to target that would benefit the company.
    • Separate customers to retain from customers to drop.
    • Decide which customers to cross-sell, plus what products to sell to them.
    • Set prices for products and services.
    • Set sales compensation rates and reward program entitlements.
    • Recognize customer behaviors that generate or destroy value.

     

    Multiple types of value determine customer profitability. If you are to make the most of CPS, we recommend getting to know each one.

     

    Historical Value

    Historical value derives from long-term company-customer relationships. It is most useful when ranking your customers regarding value, plus when selecting targeted marketing groups. Similarly, historical value also impacts on your assessment of pricing and budgeting.

     

    Current Value

    Current value comes from short periods of time, usually the current or previous month, as this coincides with reporting cycles. It tends to be highly volatile, as cyclical relationship factors don’t always register within such specific time frames. The benefit of current value is that it underscores the effects of changes in the customer relationship compared to previous values.

     

    Present Value

    Present value looks to the future, specifically at revenue and cost streams of current customer business. It projects future revenues and costs, helping to model the impact of price and service decisions before you implement them. Using it effectively requires patience, but the payoff is worth the effort.

     

    Lifetime Value

    Lifetime value also focuses on the future, while acknowledging projected revenue and cost streams from existing business and prospective customers. Implementing lifetime value requires insight into your customers’ repurchase behavior. Similarly, it also entails the likelihood of the customer increasing or reducing their future business with you. Lifetime value is the optimal customer value measurement and is appropriate for just about any decision-making situation. If you can use it effectively, you can maximize profit and increase customer exposure.

     

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    Handling Difficult Six Sigma Projects like a Professional https://6sigma.com/handling-difficult-six-sigma-projects-like-professional/ https://6sigma.com/handling-difficult-six-sigma-projects-like-professional/#respond Wed, 23 Aug 2017 19:37:17 +0000 https://6sigma.com/?p=21560 When projects don’t go as planned, your frustration can lead to you being overwhelmed.  Suddenly finding yourself knee-deep in implementation problems and process issues can shake your confidence. But when the going get’s tough, stand your ground, and stay level-headed. Remember, you’re a Six Sigma professional, so use what you know to overcome problems. The […]

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    When projects don’t go as planned, your frustration can lead to you being overwhelmed.  Suddenly finding yourself knee-deep in implementation problems and process issues can shake your confidence. But when the going get’s tough, stand your ground, and stay level-headed. Remember, you’re a Six Sigma professional, so use what you know to overcome problems. The key to handling difficult projects like a professional is simple. Act methodically and efficiently, and don’t be afraid to listen to others’ advice (including ours). Here’s how you can work through difficult Six Sigma projects and turn them into a resounding success!

     

    Before You Begin

    Planning is integral to Six Sigma project work. Remember, if you fail to prepare, prepare to fail. Before you commence any project work, ensure you have a sufficient plan to guide you through it. This should include your itinerary, as well as the strategies, techniques, and solutions you intend to employ. When working within a short time frame (weeks or months), it’s important you push yourself to create an effective plan.

    Shorter time frames may seem like the easier option, but a lot can go wrong in a short time. Whereas, long-term Six Sigma projects allow you more time to course-correct if something goes wrong. With short-term projects, it’s imperative you take a disciplined and thorough approach to planning will ensure you don’t go off track.

    Planning your project properly is beneficial for numerous reasons. Namely, it enables you to determine scope and outcomes. It also allows you to predict any would-be road bumps, and to measure, test, and correct visible problems before you begin. We’ve seen highly promising projects fail due to minor oversights snowballing into massive problems without project leaders realizing. When it comes to Six Sigma project work, you can’t afford to wing it.

     

    In the Thick of It

    Learning to leverage your Six Sigma tools effectively hones your creativity, allowing you to develop innovative solutions to problems you encounter. As a Six Sigma professional, you should know how to use your selection and decision-making tools to identify viable solutions. Don’t let yourself fall prey to intellectual snobbery. The answer isn’t always obvious. In fact, it’s sometimes a case of the more creative your solutions, the better. But, on the other hand, complex solutions aren’t always appropriate. Don’t forget about Occam’s Razor, i.e., the simplest answer is most often the right one. Don’t jump on your first idea, as it’s not always the most optimal solution. You should always approach problems from multiple angles to determine how to proceed. Once you understand the problem, you have the best chance of finding the right solution. The most common mistakes made in this area are.

     

    Helpful Tools

    We recommend applying hypothesis testing beforehand, to decide how to proceed, and DMAIC once the project has commenced. Hypothesis testing, while relying on data to first suggest a hypothesis, is primarily speculation. It helps to give ideas a test-run first, as doing so draws attention to problems that may crop up later. DMAIC, on the other hand, produces a data-centric understanding of problems you discover, on which you can then act. It’s essential to act quickly on short-term Six Sigma projects, and DMAIC provides all the tools for you to make short work of difficulties as they arise.

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    Practicing Due Diligence: Reclaim Lost Time, Maximize Cost-Savings https://6sigma.com/21556-2/ https://6sigma.com/21556-2/#respond Tue, 22 Aug 2017 16:30:32 +0000 https://6sigma.com/?p=21556 While it may be impossible to avoid getting ripped off by an illegitimate practitioner, there are ways to regain your time and money. Six Sigma can help you if you let it. Are you in the market for a promotion? Or do you just want to stand out to your boss? Either way, the solution […]

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    While it may be impossible to avoid getting ripped off by an illegitimate practitioner, there are ways to regain your time and money. Six Sigma can help you if you let it. Are you in the market for a promotion? Or do you just want to stand out to your boss? Either way, the solution is to use your initiative. Applying Six Sigma to your processes helps you generate ideas to reclaim lost time and maximize cost-savings. Think about how your plan might impact your business. Reducing unnecessary actions to streamline processes is a great start. You could even eliminate waste and reduce variation while you’re at it. Don’t fall behind in the market due to wasted time and lack of cost-effectiveness. Reclaim both for your company. Today, we look at some of the ways Six Sigma works in the real world for this very purpose.

    Plan to Succeed

    All you need do is browse the internet to find inspiration for your time-saving, cost-reducing process improvement plan. Using Six Sigma techniques like DMAIC and root cause analysis, you can identify problems on which to act. Similarly, Six Sigma also prompts you to devise solutions driven by data, with the potential for massive savings. For some businesses, it’s even possible to save up to 100 thousand dollars per year. Not only will this radically improve your cash flow, but you can then redirect that money to areas that need it, which could potentially drive greater savings. That’s like winning a scratch card, only to then win the lottery.

    San Diego Six Sigma

    Let’s look at some real-life examples of time and cost-savings. Only this year, San Diego enrolled city staff on a sixteen-week Lean Six Sigma course at UC San Diego Extension. The aim of this was to find ways of improving customer satisfaction and process efficiency. They certainly succeeded. Not only did they manage to reduce 911 call waiting times and speed up street light maintenance to minimize disruption, but also to improve customer service in local libraries. This shows that businesses big and small aren’t the only ones Six Sigma can benefit.

    Almis Udrys, San Diego’s director of the Performance and Analytics Department, has a lot to say on the matter. For Udrys, Six Sigma represents a huge opportunity to reinvigorate city staff problem-solving skills. Skills that enable you to locate problems at the source and eliminate them to save time and increase cost-savings. Lean wastes like overprocessing, overproduction and human error are the usual causes of concern. Correcting these harmful issues will stand your business in good stead down the line.

    The Secret to Saving Time and Money with Six Sigma

    Six Sigma training doesn’t just revitalize your practical process improvement abilities. It helps you to look at problems from new perspectives. Naturally, you’ll want your employees to come complete with a wide array of skills that will benefit your organization. The business world is changing at a rapid pace, and Six Sigma can help you keep up by saving time and costs. The key to successful process improvement is for employees to open their minds to innovation, embrace data-driven decision-making, and commit to continuous improvement.

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    Six Sigma Leadership Profile: Airbnb https://6sigma.com/six-sigma-leadership-profile-airbnb/ https://6sigma.com/six-sigma-leadership-profile-airbnb/#respond Mon, 21 Aug 2017 21:56:09 +0000 https://6sigma.com/?p=21552 Founded less than a decade ago, Airbnb has ridden a wave of success since its market debut. A testament to the flexible needs of modern consumers, this illustrates what we call “collaborative consumption.” This is where customers, specifically travelers, share, swap, or rent someone else’s possessions, namely their homes. Airbnb allows travelers, instead of staying […]

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    Founded less than a decade ago, Airbnb has ridden a wave of success since its market debut. A testament to the flexible needs of modern consumers, this illustrates what we call “collaborative consumption.” This is where customers, specifically travelers, share, swap, or rent someone else’s possessions, namely their homes. Airbnb allows travelers, instead of staying in a hotel, to rent a person’s house with all their belongings in it. These days, many people want the experience of a home away from home, and Airbnb caters to that demand. Not only is this a fundamentally innovative idea, but its simplicity ensures substantial profits with minimal work. Discover how the world’s largest hospitality company uses Six Sigma, and all without owning a single bed.

     

    Customer Focus

     

    Airbnb takes advantage of the sharing economy’s popularity. Respect for customer expectations lies at the heart of their business practices, with their strong customer-focus overlapping with Six Sigma. One of several driving factors behind Airbnb’s success is the high rate of customer satisfaction they enjoy. Not only from those staying in the properties but also the owners who rent them out. Their motto is “A community build on trust,” which signifies some strong connections to Six Sigma thinking. Strong company-customer relationships are important in Six Sigma as they allow you to gain a greater understanding of customer need. The better your understanding, the greater your ability to serve the customer.

     

    Enforcing the Rules

     

    They also employ an extensive list of standardized community standards to which members should adhere. In fact, thousands of hosts, and guests become barred from using the site due to not following these guidelines. This is reassuring for the rest of Airbnb’s client-base and creates an environment of openness and transparency. But how does Six Sigma fit in here? Take a look at what Airbnb does. By actively monitoring processes and enforcing regulations to deter problems, it’s clear they’re using DMAIC.

    While they seem to take a laissez-faire approach, they are, in fact, surprisingly hands-on when necessary. There’s no need for them to define their primary problem, as they already know it. But by measuring and analyzing issues such as rule-breaking, they can take actions to correct and improve them. As such, they exercise a great deal of control over their business operations often without having to interfere at all.

     

    Resolving Problems with Six Sigma

     

    One of the benefits of listing strangers’ homes for rental, means customers can see what they’re in for. TV and internet advertizing can sometimes be misleading. Who hasn’t booked a room thinking it was The Ritz, only to discover it was a hotel from hell? Airbnb provides an accurate picture while never setting up false expectations. Moreover, they originally got off to a rocky start, as many customers were uploading poor quality photos to the site. Naturally, this didn’t do their business any favors, and so they began professionally photographing all properties.

    Here they recognized a problem – one responsible for poor quality and profit – devised a hypothesis, and implemented a solution. The impact of this was clear, prompting them to direct more resources to that area. Customers don’t like to be disappointed, and one mistake can lose them forever. Airbnb understands how Six Sigma can help prevent this right from the start.

     

     

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