Article Revised: March 28, 2019
Six Sigma training is an inclusive approach to improving a business process. It covers the Six Sigma body of knowledge at different belt levels. It has many benefits for businesses and was first introduced in 1986. The impact of Six Sigma training on the bottom line of a company has led to it being embraced by many businesses in different industries. This success has resulted in the training of more people in this methodology. The benefits are valuable to both career and business intelligence. Below are six ways Six Sigma training can affect your bottom line.
1. Increase Productivity
Six Sigma can help you identify the root causes of low productivity and measure the time spent on straight and indirect activities.
2. Reduce Costs
By spending less on modifying defective products, an enterprise could increase its operating revenue by 50% and reduce its cost of attaining quality by 20%.
3. Improve Market Share
Businesses that have implemented Six Sigma Training for some time reported a profit margin growth of 20% yearly for every Sigma shift.
4. Increase Competitive Edge
Six Sigma will identify common components that can be standardized to enhance performance and provide information needed to strengthen and improve consistency in customer relations.
5. Reduce Waste
This approach can help businesses identify any unnecessary movement of people, information and products. It will also reveal untapped employee ideas, creativity and skills.
6. Increase Employee Satisfaction
Six Sigma can identify what qualifies as premium time, overtime and vacation allowance, along with errors resulting in over and under payments, thereby eliminating the time and effort it takes to correct them.
Looking at the ways Six Sigma training can affect your bottom line you will agree that it can improve your business ideas and overall business intelligence.