Six Sigma Training For the Banking Industry

The DMAIC methodology can be put to good use in the banking industry as well. Tools like QFD have been utilized to maximum benefit in this industry. Some big banks like Bank of America, Citibank, Bank of Southwest and others have achieved good results by applying the Six Sigma methodology to their various processes. Define: In banking, customer satisfaction is the most important objective to achieve. Defining processes in consultation with bank employees and upper management is the first step in applying Six Sigma in this industry. Measure: In this phase, Six Sigma professionals have to collect statistical data in consultation with management.

The Kaizen Philosophy

Kaizen aims at small improvements that involve the ongoing efforts of everyone. These small improvements over a period of time produce bigger effects than the big project approach. Six Sigma and Kaizen Kaizen is not about changing the basic system; it is aimed at optimizing the existing system. The approach promotes learning, building capabilities and improving processes through constant study to exploit improvement opportunities. The controls are maintained by following the standard operating procedures (SOPs). When the improvements are done, the SOPs are changed accordingly. All levels of management are involved in Kaizen.

Tools to Make Value Flow to the Customer

The key to ensure value flow to the customer is the understanding of customer requirements. Understanding what they need and when it is required are essential to managing a proper flow. Tools To Ensure Value Flow to the Customer The entire process flow is considered and generally, the process starts with the customer order and ends with the product reaching the customer. Various tools like 5S, constraint management, level loading and lot size reduction can be used. QFD can be used as a tool to achieve value for the customer. 5S 5S is most important in Lean deployment. It stands for Sort, Set in order, Shine, Standardize and Sustain.

Using Lean Six Sigma Training to Reduce Excess and Obsolete Inventory

Causes of Excess and Obsolete Inventory One of the root causes of excess and obsolete inventory is the poor and inaccurate forecasting of the required levels. Long lead times and poor quality are high-level causes of such problems. When lot sizes are large, the lead time also increases; it may also increase if the schedules go off track, there is late delivery and processes are complicated or need a lot of rework. If there is poor demand management (i.e. when the demand and supply do not match due to inaccurate demand data, poor forecasting and unrealistic sales projections), there is excess inventory.

Banking Relationships - Is Information the Key?

As more and more financial institutions embrace the concept of CRM, are they really improving their relationships with their customers, and is that improvement equating to dollars on the bottom line? At the same time, while preparing for T+0, many financial institutions are attempting to provide better access to their stakeholders through Portals. How many of these eBusiness initiatives are really using the all of the data stored across the entire enterprise in a truly integrated way that yields valuable data? Are banks getting value for money on their applications? According to Gartner Group - the average Enterprise has 14 different databases, and spends 60-70% of its Application development creating ways to access that data.

Optimizing Telecom Expenses in Your Business Will Maximize ROI

One of the key features of Expense Optimization is comprehensive cost and usage reporting. It tracks expenditure by service type, location and cost per employee in order to provide a detailed view of where each dollar is being spent. It goes further by keeping track of assets in the same manner. The software can produce reports, charts and graphs that enable those in charge to detect wasteful spending. With this type of detailed analysis, one can whittle away at needless spending without decreasing the effectiveness of your employees. For instance, if you have employees that need wireless data services, they can have it.

Managing Generation Y in the Workplace

Is everything about to change for Generation Y? How will they deal with a recession, the uncertainty of an economic downturn and the big changes in the employment market? Why may Generation Y be affected by recession more that other generations? The answer is that Generation Y traits aren't entirely in tune with the inevitable aspects of recession and economic insecurity. The Y generation has always felt secure. Ys only knew economic prosperity. Many Generation Ys have only experienced full employment and economic growth. They saw parents in stressful jobs, working long hours. For some of those parents, their hard work didn't bring prosperity and happiness.

What Makes a Good Manager?

I'm often asked for ideas on how to be a good manager and how to be a good people manager. These are the essential skills of managers no matter what is the end product - computers, customer service or bread. Make a list of the names of your previous "managers". You may even want to go back to schools and when you were growing up. You may even want to consider your parents and how they managed you. Consider also stories which stick in your mind which you've heard from friends and relations about their experiences of people who managed them. Against each "manager" make 2 lists - what they did well and what they did badly.

What Are the Skills Needed to Be a Good Manager?

The list of skills needed to be a great manager is long and varied and endless. Let's take a look at what we like to call: What nobody thought to tell you at the interview. Your managers didn't in any way set out to keep things from you during the interview process. However and inevitably, in any interview, the main focus is usually on the specifics of the fit between you and the company and the fit between you and the goals of the organization. Your bosses will have had in mind that the company is about to e.g. launch a new initiative or they want to re-organize the company or they want a leader for a new department or they have a specific problem which they needed someone with the ability to fix.

Types of Difficult Employees

Leading difficult people is a challenge which is often faced by managers at some point in their careers. Supervising difficult people and managing difficult people is an important skill for every manager to learn. When we say "difficult" people we usually mean people whose behavior or attitude causes difficulties. The person themselves may not be difficult but their behavior is. Firstly, let us be clear about the sort of person we consider to be "difficult". The person we are NOT considering is the person who has a real and genuine grievance because they have been badly treated and who is complaining today because they are right to complain.