Everything posted by Vishwadeep Khatri
- Six Sigma Targets In Manufacturing
- Baselining Of A Six Sigma Project
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Can six sigma be useful in share trading?
Good discussion here. Simulation analysis can be used for predicting probability of returns using different portfolios. By using such an approach, an investment company can generate portfolios for high risk, moderate risk and low risk investors. Here, the objective is to improve the probability of success and not guarantee success. This is understandable as several influencing factors are beyond the control of a single organisation (or individual) More comments welcome. Best Regards, VK
- Application Of Lean Six Sigma In Healthcare Industry
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Lean Six Sigma In Network Marketing.
Dear Gurshit, Six Sigma project in Network Marketing shall relate to pain area based on barriers to network marketing growth. If you have been trying network marketing and you have reasonable amount of data for analysis, identifying a focus area should be feasible. Let me know if you have some detailed information on your experience till now. Best Regards, VK
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Six Sigma For Technical Publication
Hi Mansi, Six Sigma project should relate to a business or process improvement area. You can get good potential projects from customer pain areas or management pain areas. Specific objective can be identified once you have finalised an important focus area. Let me know if you have any other question. Best Regards, VK
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Lean Six Sigma In Shipping
Vishwadeep Khatri replied to nitinsrajyaguru's topic in Applicability in Services other than IT/ITESHello Bilal, The key concerns in Shipping of material are Timeliness of delivery Safety of material Correctness of delivery (as per requirements and documentation).Lean Six Sigma projects can be identified in each of these areas. Best Regards, VK
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Application Of Six Sigma In Healthcare And Travel Industry
Dear Hari, Can you please explain what are the key elements in product management that you focus on? This will help in answering your question. Best Regards, VK
- How Is Six Sigma Useful In Front End Areas Viz. Marketing, Business Development, Sales, Customer Service, Etc??
- Criteria For Selection Of Six Sigma Project
- Example Lean Six Sigma Projects In Manufacturing
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Have consultants over-complicated lean?
I was reading this discussion somewhere and thought that it makes sense to discuss it here. I like Lean concepts a lot and enjoy conducting lean sessions but I believe more than 2 days training sessions in Lean is just about over-complicating lean. Lean is about seeing waste, understanding waste and removing waste. Conceptually, lean is not complex. Implementation may be complex due to technology and culture issues. Still I see consultants coming up with lean programs at different levels. Someone has proposed Lean Belts like Sigma Belts. Have consultants been over-complicating it? I believe the beauty of lean lies in its simplicity and a Lean program need not be long (not more than 2 days). We are still contemplating an advanced Lean workshop but I am unclear about value it can deliver. What do you think? Regards, VK
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To start a GB Project
Dear Sreedevi, You should begin with creation of a project charter. Within the charter, decide a SMART goal for the CTQ that you choose. Ensure that the goal is neither easy nor completely impractical. (50% reduction in defects may be a good goal). Find out who should be the team members in this project. Once the charter is ready, get it approved from your management. If you face any difficulties keep posting on this topic. Regards, VK
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Correlation Analysis
To be more specific, if X and Y are independent, and both are just being measured, we use correlation to understand the linearity of relation between them. Please note linearity is not perfectly understood from correlation coefficient as one outlier can provide misleading interpretation if we only look at r. It is important to look at the scatter diagram. (as you see in wikipedia link above) If X values are controlled and Y values are measured, we better use regression and p values for inferences. This provides option of considering non linear equations (like quadratic or cubic etc). In all cases, it pays to have a look at the graph. Best Regards, VK
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Correlation Analysis
Dear Shalini, This subject is more complex than it looks and good that you picked it up. Are the factors independent? Correlation assumes that any random factor affects only one other factor, and not others. Are X and Y measured independently? The correlation is not valid if X and Y are intertwined. You'd violate this assumption if you correlate midterm exam scores with overall course score, as the midterm score is one of the components of the overall score. Were X values measured (not controlled)? If you controlled X values, you should calculate linear regression rather than correlation. Is the covariation linear? A correlation analysis would not be helpful if Y increases as X increases up to a point, and then Y decreases as X increases further. You might obtain a low value of r even though the two variables are strongly related. The correlation coefficient quantifies linear covariation only. It is important here to have a look at the four graphs shown on this page at wikipedia. http://en.wikipedia.org/wiki/Correlation_and_dependence
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Simulation and DOE
What is it that DOE can deliver and Simulation models cannot? What is it that Simulation models can deliver but DOE cannot? If simulation is used along with DOE, should DOE follow simulation or should simulation model be followed by DOE?
- Six Sigma In Project Based Industries
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Correlation Analysis
Hello Shalini, Correlation coefficient values between -0.8 and +0.8 is considered as poor correlation. This means, if you get correlation coefficient lesser than -0.8 or greater than +0.8, it shows good correlation. If you have got a correlation coefficient value of -0.3, it means weak negative correlation which is not worth consideration in terms of impact of one factor on another. I hope this answers your question. Best Regards, VK
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Can six sigma be used in construction project?
Vishwadeep Khatri replied to nikhilahirrao_8485's topic in Applicability in Services other than IT/ITESDear Nikhil, Please study the article at the following link. Please post your queries at the discussion at the same link. http://forum.benchmarksixsigma.com/topic/550-six-sigma-in-project-based-industries/page__hl__%2Bproject+%2Bbased+%2Bindustries Best Regards, Vishwadeep Khatri Lead Facilitator, Benchmark Six Sigma
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Why Green Belts should upgrade to Black Belt?
When Six Sigma Green Belts carry out more complex projects, they realize they need to - Learn more about hypothesis testing. Get additional practical inputs on Statistical Process Control. Carry out sample size assessments for different situations where just the thumb rules would not suffice. Learn DOE (Design of Experiments) in detail with numerous manufacturing and service sector examples Obtain team management and stakeholder involvement skills. Learn more about measurement system analysis Learn how to deal with non-normal data. Learn additional graphical techniques and get more hands on practice on software like Minitab Get answers to many questions that they come across while practising the techniques. There are career growth opportunities for Black Belts which span across functions and industries. Benchmark Six Sigma Black Belt program (for Green Belts) has a Six Day schedule on a Friday to Sunday format (with two parts having 2 weeks gap in between). For forthcoming programs, please have a look at http://www.benchmark...ma.com/calendar Regards, VK
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SIX SIGMA and Information Technology
Dear Ranjit, Please contact 18001023003 to reach Benchmark Six Sigma during office hours on weekdays or upto 1 PM on Saturdays. Best Regards, VK
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Six Sigma And Software Development
Dear Vaibhav, You may like to participate in following discussions related to Software testing and Software QA. http://forum.benchmarksixsigma.com/topic/767-six-sigma-in-software-testing/ http://forum.benchmarksixsigma.com/topic/773-statistical-tools-in-software-quality-assurance/ Regards, VK
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Role of Lean Six Sigma
I agree with Tina and Manian. Let me provide an example of Six Sigma usage in strategy building. In a recent assignment, a client was trying to devise a product mix that provides for minimum ROI required for survival. This particular company had been producing large number of variants of a single product. The management, had historically been of the view, that a complete range of variants is a must for all leading players. During this DMADV project following were considered in a simulation model. 1. Dealer, Distributor opinions and a sample survey of the consumers was used as inputs for segregating variants as Expected by all - categorised as must Expected by majority - categorised as good to have Expected by small segments - avoidable Utilization of common, standard raw material for certain variants provided cost benefits due to lesser overall inventory. This was factored in the model. Activity based costing and product linked costing techniques were utilized to create projected costs for alternative solutions. Various product mix options were considered including solutions that had a limited number of standard stock items (and remaining to be produced only on confirmed orders with a committed lead time). 2. The recent and cyclical trends in consumer patterns were used to create demand forecasts. Monte Carlo simulation showed higher possibilities of realising business goals with a particular new strategy. The simulation provided an optimum solution which was not hypothesized earlier. Verification with mathematical and accounting calculations showed this optimum solution was really better than others. This finally led to a decision of trial that required discontinuation of certain variants of the product. This particular selected solution showed reduction in inventory levels, higher levels of standardisation for chosen product variants and increased value for marketing intermediaries/consumers due to better availability and competitive pricing of all listed products. The solution was piloted in one of the units and marketed in a specific region. The results were highly encouraging. This led to nation-wide revision in product mix strategy and significant business benefits. With additional revenue and profitability, the company invested in some more Lean Six Sigma DMADV assignments and found ways of adding variants using late point differentiation techniques and set-up reduction techniques without disturbing inventory levels or unjustified processing costs. In this manner the company was able to address the pressing need of survival initially and that of growth later (with Six Sigma projects used for strategy building.)
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Role of Lean Six Sigma
As Lean Six Sigma is considered an outside - in approach (with customer opportunity identification being the first step), there are several ways of using the approach. Generally the interpretation is - we should use Six Sigma for setting up processes (designing process/ improving processes). This means the strategy must be in place and we use Six Sigma for execution. My question to everyone here is - Where should Six Sigma be placed? Can we use it for strategy building for certain business goals? Should we use it only when we have clear objectives for a process design or process improvement?
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Application Of Six Sigma In Healthcare And Travel Industry
Dear Ajeet, Airline Marketing is about understanding customer expectations/preferences and improving processes based on them. Six Sigma projects in Airlines Marketing relate primarily to the following areas. Developing and sustaining relationship building processes which are recognised by customers. Identifying defects and delays in internal processes. Re-designing or improving processes to eliminate or reduce them. Ensuring availability, completeness, relevance and accuracy in information and booking processes. Ensuring uptime of IT infrastructure and websites to result in reduced customer inconvenience. Maintaining high referral and repeat business and thereby increase in market share. Increasing impact and results of direct response advertising campaigns. Reducing delays, inconvenience and defects at various customer touch-points. Taking timely and appropriate feedbacks from customers and reacting to them with process improvements well in time. This is to ensure that the airline image does not get spoiled due to poor processes. Regards, VK