Many organizations have heard about Six Sigma and successfully adopted it in their processes so as to eliminate any defects and bring about total improvement in the quality of products and services. However, when it comes to Lean Six Sigma, the process becomes somewhat different due to the ‘Lean’ process being introduced.
Although people can easily confuse Lean Six Sigma to be just like the standard Six Sigma methodology, it is not. Lean Six Sigma is a combination of Six Sigma and the Lean manufacturing tool. When these two processes are combined, the results can be noteworthy.
Capability Maturity Model Integration (CMMI) is the latest process improvement approach that not only aims at improving standalone processes, but also makes way for the improvement and effective integration of other processes that might be connected to the main process. It is implemented mostly in the IT (Information technology) industry where the work environment is characterized by several ongoing projects running at the same time.
Lean Six Sigma is generally associated with cost reductions and process improvements, but not many know that it can also be used for designing and developing new products and services in line with customer needs and expectations.
Over the last couple of years, home mortgage loans in United States have normally closed down in about four weeks. Today, with the help of Six Sigma, there are some online mortgage loan originators who close loans in less than two weeks.
Lean Six Sigma
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