Open AccessSix-sigma – a faster path to profitability
Author(s) -
T S Ravi
Publication year - 2017
Publication title -
journal of management and science
Language(s) - English
Resource type - Journals
eISSN - 2250-1819
pISSN - 2249-1260
DOI - 10.26524/jms.2017.9
Subject(s) - six sigma , profitability index , customer profitability , quality (philosophy) , sigma , design for six sigma , operations management , cost reduction , business , computer science , marketing , customer retention , engineering , service quality , finance , philosophy , physics , epistemology , quantum mechanics , service (business) , lean manufacturing
Six-Sigma is a highly structured process for increasing profitability by improving the quality of products and services. Six Sigma’s benefits include reduced costs increased profits, better customer retention, and improved efficiency. Six Sigma directly addresses several pain points confronting today’s management such as competitive pressures for cost reduction and efficiencies resolution of quality issues that can erode profits, customer confidence, and time to market long–term value creation built upon quality and efficiency Six Sigma takes a handful of proven methods and trains a small cadre of in-house technical leaders, known asSix Sigma Black Belts, to a high level of proficiency in the application of these techniques. To be sure, some of the methods used by Black Belts are highly advanced, including the use of up-to-date computer technology. This paper attempts to highlight the application of SixSigma in improving business profitability.