Lean uses value stream mapping which considers activities WITHIN the company’s scope of control and operations. It has been found that many opportunities exist outside the company or in the support functions as highlighted in the definition of value chain above.

 

While Lean Six Sigma projects can be done very well across value chains, it requires a good  understanding of components of Value Chain for an LSS professional to be able to drive results (or to participate well in such projects)

Monitoring & maintaining Cost of Poor Quality will require greater transparency & exchange of knowledge between supplier chain and channel Partners to have Winning Alliance

 

This is one of the major Value chains in Automotive Industry

Shortening product development cycles & increasing focus on lower prices is @ increasing demand

Yes, agree with Somanathan. 

To add, a Lean Six Sigma professional with Value Chain Expertise can broaden his application area to include the supply side and demand side in his list of possible projects. Also, a professional of Value Chain/ Supply Chain areas can deep dive into the latest tools usage and practical applications by attending our VCE program. 

Organizations like Wal-Mart, Ikea, HSBC are keenly participating in the development of their vendors by means of training and operational support. They get their supplies customized as per their needs both in terms of time and quality.

 

Going a step forward Wal-Mart went a step forward in getting the operations of its vendors standardized and even certified.

 

An example for the same is that the fresh meet stock sold in Easyday Stores(a J.V. of Wal-Mart and Bharti for Indian markets) comes from vendors who comply with food safety standards.

 

They could not have introduced this category or would have maintained the standards themselves if the vendors would have provided the stock in the old fashion… the organizations trained and got their vendors certified to introduce this category which was previously untouched by so called organized retail.

Quite insightful.

 

Interesting to note how retail gaints have been using Six sigma and value chains.

 

Yes its true. The retail giants are using it. It is imperative that each and evry person who is part of the chain should be aware of it. The impact will be greater and positive

Another way to future proof your career is to always keep acquiring new skills and get certified. PMP Certification is great if you're at a project management level or aspires to be in pmstudy.com has a great free test if you'd like to gauge your project management knowledge.