Posted by: meikah | 30 July 2009 | 10:20 pm
The question: “How great would it be to have the means to evaluate the feasibility of an idea before going too far down the road?”
This is the kind of question that Design for Lean Six Sigma (DFLSS) is capable of answering. As a subset of Lean Six Sigma tools,Â DFLSS encompasses customer needs, design specifications for products and services, and alternative solutions.
So, how do you use DFLSS to evaluate a new loan referral process?
An article on iSixSigma has the answer. View it here.
Filed under: DFLSS, Finance, Lean Six Sigma, Six Sigma
Posted by: meikah | 30 July 2009 | 9:52 pm
Net sales for the second quarter of 2009 totaled $91.5 million compared to net sales of $95.0 million for the 2008 second quarter. The company reported net income of $7.4 million, or $0.49 per diluted share, for the 2009 second quarter compared to net income of $6.5 million, or $0.43 per diluted share, for the 2008 second quarter. The company’s adoption of FASB Staff Position No. APB 14-1 related to embedded interest on convertible debt resulted in $1.6 million and $1.4 million of non-cash interest expense in the second quarter of 2009 and 2008, respectively, reducing earnings per share by $0.11 and $0.09, respectively.
For the six months ended June 30, 2009, Trex Company reported net sales of $159.1 million compared to net sales of $214.5 million for the prior-year period. Net income for the 2009 six-month period totaled $4.3 million, or $0.28 per diluted share, compared to $13.9 million, or $0.93 per diluted share, for the 2008 six-month period. These results included $3.3 million and $2.7 million of non-cash interest expense in the first six months of 2009 and 2008, respectively, which reduced earnings per share by $0.22 and $0.18, respectively.
President and Chief Executive Officer Ronald W. Kaplan has this to say:
“Our unwavering focus on enhancing Trex’s operations continued to produce results. We continue to expand the use of Lean Six Sigma manufacturing techniques throughout every phase of Trex’s manufacturing process in both our Winchester and Fernley plants. The resulting improvements enabled us to raise gross margin by 220 basis points to 31.2% quarter over quarter despite lower levels of capacity utilization. Our operating cash flow for the second quarter was strong, and we continued to execute our cash management strategy extremely well. We believe we’ve weathered the economic downturn better than many of our competitors. Our cash balance at quarter-end increased to $46.4 million and we haven’t borrowed against our revolver for more than a year…”
Filed under: Lean Six Sigma, Manufacturing, Six Sigma, Six Sigma Organizations, Trex Company
Posted by: meikah | 30 July 2009 | 9:16 pm
Here’s another edition of Six Sigma Companies News.
Toyota, the company that is known to have set the standards in process innovation and improvement with its The Toyota Way, is not spared from the crisis.
In a recent article on Los Angeles Times Online – Business, Toyota is considering ceasing operations at California’s last car plant.
Toyota Motor Corp. appears to be moving closer to shuttering California’s last auto plant.
The Japanese automaker plans to start talks next week that could dissolve New United Motor Manufacturing Inc., or NUMMI, which opened in Fremont in 1984 as a 50-50 joint venture of Toyota and then-General Motors Corp.
Filed under: General, Six Sigma News, Six Sigma Organizations, Toyota
Posted by: meikah | 29 July 2009 | 4:14 am
Filed under: General, Wordless Wednesday
Posted by: meikah | 27 July 2009 | 10:13 pm
In the light of the recent State of the Nation Address (SONA) here in the country, I thought of researching about how to apply Six Sigma in governance.
Good thing that iSixSigma is back online and I found an article there that discusses how it can be done.
Filed under: iSixSigma, Public Sector, Six Sigma
Posted by: meikah | 27 July 2009 | 9:54 pm
Ryan J. Bell, writing for Technology Toolkit has a good discussion about building a lean organization in the service industry.
He suggests the following ways:
- Doing It Correctly The First Time – The number one contributor to waste in the service industry is not completing a given task correctly the first time. This is always the first order of things.
- Developing Performance Baselines – To identify process-related waste, the Lean Six Sigma team must first review the organizationâ€™s goals and current performance levels.
- How To Improve Employee Performance – Predictably, the first line of defense is training.
- Reducing Process Inefficiencies – Eliminating process-related waste is paramount.
Posted by: meikah | 27 July 2009 | 9:02 pm
Itâ€™s time again for some link-loving and see what other blogs are saying about Six Sigma, Lean, Lean Six Sigma and other quality improvement processes.
Just a heads up. iSixSigma is back online again! Way to go!
Filed under: Lean, Lean Six Sigma, Six Sigma
Posted by: meikah | 23 July 2009 | 11:18 pm
Manila Bulletin Online reports:
Ericsson aims to be at the forefront of technological innovation by continuing to focus on pioneering research and development, and practice an unwavering entrepreneurial spirit, which has been its tradition ever since the companyâ€™s founding in 1876, which what has led the company to where it is today.
Filed under: General
Posted by: meikah | 23 July 2009 | 8:09 pm
IRVING blog shares:
State Rep. Linda Harper-Brown just recognized Irving leaders at today’s City Council work session for the Six Sigma philosophy that city officials use to evaluate processes and procedures. City officials have said that the constant evaluation and use of the philosophy has allowed them to cut millions of dollars in expenses and save city staff members’ time.
Filed under: Public Sector, Six Sigma
Posted by: meikah | 23 July 2009 | 7:56 pm
An article on PharmExec shows us how Lean Six Sigma can be applied to research and development (R&D). First let’s consider these questions:
- What would happen to the productivity of your researchers if they could eliminate 50 percent of their nonâ€“value-added activities?
- How much would your company benefit by reducing cycle time of first-phase clinical trials by 20 percent? What would you gain if late-stage clinical trial data also could be obtained 20 percent faster?
- How much would utilization rise if your company could dramatically speed access to lab results and clinical supplies?
And according to the article, this is how Lean Six Sigma can help:
Integrating these two proven methodologiesâ€”Lean (speed) and Six Sigma (quality)â€” Lean Six Sigma draws on a wide range of tools and techniques from both methodologies. Pharmaceutical firms that use this management discipline are seeing results in terms of increased operational speed, improved quality, reduced costs, and enhanced customer satisfaction. By automating manual activities, driving out nonâ€“value-added activities, and streamlining complex process flows, Lean Six Sigma projects can free scientists from routine administrative and compliance tasks, allowing them to focus on innovation. That could be a potent prescription for R&D.
An estimated two-thirds of top pharmaceutical companies have already implemented Lean Six Sigma programs, with Eli Lilly and Johnson & Johnson having launched some of the industryâ€™s earliest projects. Other branded companies followed in recent years with programs on the technical operations side, and some on the commercial side, with a much lower percentage of projects in R&D.