“Research shows that over 70 percent of all organizational improvement opportunities lay hidden in broken processes.”
Process improvements and productivity enhancements can relate to:
- Improvement of business processes and increasing the productivity using existing resources.
- Enhancing the efficiency of the organization.
- Reducing costs.
- Improving customer satisfaction and experience and reduction of response time.
The challenge lies in converting the organizations' process improvements and productivity enhancements from the ideating stage to the execution stage. The different steps that go into the process will need careful analysis and remedial actions which need to be taken to maneuver the business in the right direction.
Different tools such as Lean Six Sigma tool when applied can help enhance the efficiency of the following areas:
The benefits that accrue due to process improvements and productivity enhancements are many. Increase in the loyalty of stakeholders such as customers, business partners, suppliers, employees, growth in revenues, reduction in working capital needs, reduced need to acquire assets and reduction in risks due to bad governance are a few areas which organizations can benefit from.