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Vishwadeep Khatri

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Everything posted by Vishwadeep Khatri

  1. For this question, I got 50 plus responses. They are here - Product mix has been the top challenge in one client organisation of ours. What should be the ratio of products A, B, C, D, E in geographies V, W, X, Y, Z? Timely deliveries is the biggest concern for another e-commerce client of ours. People cancel orders in large numbers if deliveries don’t happen in a 4 hour window. The business is based on on-site impulse buying. Cash flow is the killer at another place. They are hard pressed to pay salaries and to pay vendors on time month after month. Increasing ROI. Maximising returns is one of the biggest focus points Optimum utilisations of resources - Resources like manpower , assets . Companies have lots added over years and not able to assess if its used well Reduction of operational cost Lowering of Variable Overhead Costs Increasing Market penetration and establishing a market share .managing the competition Improving cash flow and to maintain clean boom of account from both our and customer end.F&A domain Risk reduction and regulatory compliance while not increasing cost of operations Reduction in Manpower cost from matured processes thru non intrusive (non tech) interventions Activated revenue (not promised or agreed revenue) is the top focus area of another client. They count activated revenue as revenue realised in account quarter by quarter. The growth targets are highly ambitious and most people in the org are fully aligned towards this goal. Demand and capacity prediction in uncertain market One of our clients focuses on minimising penalties. Growth is good and is not a concern. Complaints lead to reimbursement of damages in this financial company. They are super concerned about penalties as this area can result in closure of business. Improving market share: auto-ancillary suppliers are facing a bust these days owing to low demand.. However many bosses (that I know of) say that they still have the same market share.. So if demand rises tomorrow, business would be proportional. Employees’ health (fear of Covid-19): precautionary measures and tactical steps Outsourcing benefit calibration insourcing. Using technology interventions increasing productivity using RPA use of ML & AI and move from transactional process to stratagic decisions process enhanced customer. Experience through design thinking al a carte customer service with brand product mix (particular to DTH , TELECOM, hotel's and hospitality) Demand and capacity prediction in uncertain market People Dependancy since in old Indian companies people don't share knowledge due to fear of losing importance/ job Future focus.investments of today or technology will they be of use in future. Is our business model sustainable in future Reinforce Brand image. Identify & target new market for growth Enhanced customer experience through digitalization, adding interface for self service Whether new products launched are the top priority requirement of the customer Providing value added business solutions to customers & partners. Cutting down baseline costs and increasing top line revenue by either process improvements or innovation using latest technologies Effective measurement of productivity and justification for the resources at hand. Thereby transparent performance evaluation. Reduction in end to end cycle time who is our customers and what they actually want How Opex can contribute to top line ( we have lot of initiatives to reduce cost) Quick capitalization of new equipment/processes How changes in demand can be accomodated, Both sudden high demand.. And sudden low Impact on cash flow and reducing cost How employee turnover can be reduced.. Moreso.. How new talent can quickly give results Allocation of funds in different aspects of the business. Working capital management How do i shift from pyramid type human resources to hourglass Being an NBFC we are highly regulated and there r huge penalties for non compliance. Hence 100% compliance is top target i.e. zero audit points Being Cost competitive, by VAVE idea generation and implementation Supply chain rationalization Enhancing Customer experience Have the projects actually achieved the RoI they promised? Less noise from customer and reduce Cost of delivery to improve margin Reducing lead time from product conceptualisation to product launch in market Logistics cost optimization Delivering flawless launch quality of new products
  2. I have come across a really important question forBBs/ MBBs - We all know that Black Belts/ MBBs want to be trusted. Trust is built in a company by demonstration of competence. - Our competence should link with what top leaders are concerned about. We need to link with what gives sleepless nights to absolute top guys (CXO team). - Among top guys there are a few who are the biggest influencers in the direction for management. Typically we know who those people are and what they are trying to drive. - I asked many BB/MBBs to think what is the top focus area of the key influencer in your organisation and mention the focus area here. This would help us to think what direction should Black Belts/MBBs take. We got the following list in some time (See message below)
  3. Both Harsha Subbanna and Shashikant Adlakha have provided very good answers and are joint winners. Please go through Mr. Venugopal's answers for additional strategies.
  4. Q 241. As a tribute to Jack Welch, the GE leader who got tremendous success with Six Sigma and passed away recently, here is our question - One of the most powerful change sequences in GE in the past has been the Change Acceleration Process, this included the Action Work-Out. Explain the following statement "Work-Out can address issues that Six Sigma projects probably cannot." Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionaryat https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  5. This Webinar was delivered on 28th February 2020 at 9 PM GMT20200228-153319_Practice-P_1920x1080.mp4
  6. While all published answers are appropriate, the two winners for today are Shashikant Adlakha and Mohamed Asif as both have provided very good examples.
  7. Q 240. Time is money and it should be spent on doing 'Important but NOT Urgent' tasks. However we all are like Sisyphus (a prisoner in the ancient Greece who was given a never ending task of rolling a heavy and huge rock up a hill only to watch it roll back down and start over again). Endless to-do lists that only grow longer are a big deterrent for Continuous Improvement Projects that require creativity. Explain what can be done to address the Sisyphus effect. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionaryat https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  8. Go to academy.benchmarksixsigma.com Click on login Use forgot password option and create password. Use new password to login at academy.benchmarksixsigma.com Click on "my courses" Click on "Six Sigma Practice Project" and continue The above sequence will work in most cases (after 2 hours of registration), if it does not work, it is likely that you are not manually registered yet (The registering process is manual currently). In such a case, contact VK via WhatsApp.
  9. We created Progressive WhatsApp Groups which requested that there should be some practice for Six Sigma projects at least for Green Belts. As Black Belts also had a Progressive WhatsApp Group, it was decided that Practice Project should be of value to Black Belts and MBBs too. We started with the free online practice project on 20th February The online Practice Project is available on Benchmark Online Academy to all past Benchmark Participants and is supposed to be valuable for GB/ BB/ MBB, all levels. The Define Phase has been completed by many people and we had a webinar on Define phase questions. This webinar had 100 participants and was scheduled on 24th Feb 2020. It was noted that 30 minutes do not seem sufficient and next webinars will be of 45 minutes duration. The Measure Phase Descriptions and Quiz is available on Academy. Some participants are progressing with Measure Phase currently. Any Benchmark Six Sigma past participant who wants to enrol in the Practice Project can still join it by requesting in his batch WhatsApp group or by looking at details of registration within the enrolling for Practice Project given under the guidelines here - https://www.benchmarksixsigma.com/forum/forum/216-six-sigma-practice-project-for-benchmark-participants/ It was found that some people were struggling to complete the practice project during weekdays. A Survey was conducted on 25th Feb and based on the survey, revised deadlines have been announced for each phase and dates for webinar are also announced. As practice project is available at online Academy, it is possible that you do it at your own pace. The only aspect is that participation in phase specific webinar will be more useful if you have refreshed the phase and gone through the content. Regular discussions are on at Progressive WhatsApp Groups and new updates including deadlines and webinar dates will all be published here. The deadlines and webinar dates are mentioned in a message below this message. The zoom webinar links are given here - https://www.benchmarksixsigma.com/forum/topic/35955-webinar-registration-and-participation/ This commentary does not have an option to comment or reply on this forum. If you want to discuss something, please message VK.
  10. Winner for this question is Mohamed Asif as he has provided the method to carry out the analysis using Statistical Software as well. Please go through reply by Benchmark Expert Venugopal as well.
  11. Please note the following - Try out Zoom link in advance. These will work in your phone as well as computer. Check your speakers and mic through the testing option in advance. Login at least 15 minutes before webinar so that you can sort out any technology issues. Write your questions in the chat window of Zoom at any time. Keep your mic on mute when you are not speaking. If you miss the webinar, do not worry. The recording will be shared in progressive group. To participate in live webinar, make a note of date and time in calendar below - Webinar links are given below Measure weekday - 28th February 9 PM - https://zoom.us/j/696420085 - Done Measure weekend - Cancelled due to unavoidable reasons. Analyze and Improve weekday - 3rd March 9 PM - https://zoom.us/j/674778156 - Done Analyze and Improve weekend - 7th March 3 PM - https://zoom.us/j/340015293 - Done Control weekday - 6th March 9 PM - https://zoom.us/j/833428166 - Done Control Weekend - 8th March 3 PM - https://zoom.us/j/556915080
  12. If you find that you are stuck somewhere and unable to proceed, do the following - Look for "Complete and Continue" button at the top right. You will be able to progress.
  13. Once you have got email, you should be able to progress. In case you got an email but are unable to login, please follow the steps below - Go to academy.benchmarksixsigma.com Click on login Use forgot password option. Use new password to login. Click on "my courses" Click on "Six Sigma Practice Project" and continue
  14. Fill the form provided for registration. Wait till you get an email. Usually email is sent within 2 hours during day time. Check your spam. junk, bulk folders if you do not get email. Click on link within the email to confirm your email. Once you have created your password and logged in, click on "my courses" on the top right corner of the page. You will find the "Six Sigma Practice Project" and you can proceed with the course now. Click here to view Step 3
  15. To join a progressive Green Belt or Progressive Black Belt/MBB group, please send a message requesting for this in your batch's WhatsApp Group or directly to VK. Click here to view Step 2
  16. Hi All, The video recording of the Define Phase Q&A (24th February 9 PM meeting) is provided below. - GMT20200224-153048_Benchmark-_1920x1080.mp4
  17. The winner for this question on Bootstrapping is Shashikant Adlakha. Please go through the answer by Bencmark Expert Mr. Venugopal as well. (Especially the reference to Central Limit Theorem)
  18. The winner for this question is Shashikant Adlakha as he has provided a good number of examples along with advantages and disadvantages of stratified sampling. Please go through the response by Mr Venugopal as well.
  19. Very good answers by T Jayaram and Shashikant Adlakha. Both are winners. Also, do review the response from Mr Venugopal for expert view.
  20. The winner is Shashikant Adlakha for his excellent answer.
  21. Q 239. Sir Francis Galton, in 1906, took more than 700 guesses from fair visitors about the weight of an Ox and the average value from guesses was found to be precise. Sometimes surveying for guessed values makes a lot of sense because the average obtained through crowd intelligence is better than individual assessments. At other times crowds provide values that are completely off the mark. What are the elements to be considered before we think about relying on wisdom of the crowds? Are there any practical applications of this theory today? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionaryat https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  22. Q 238. The Kaplan Meier Estimator helps Doctors estimate which treatment works best. How does it work? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  23. Q 237. Why is Bootstrapping, a method of drawing samples with replacement, used an alternative to inferential statistics. Explain with simple examples. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  24. Q 236. The “Trial of the Pyx” seems to be the longest continuing practice of stratified sampling. Provide some other very common and effective uses of stratified sampling. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
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