[June 17, 2004] Lean, Six Sigma & TQM Project Success: New Trends in Cost-Cutting Measures CHAPEL HILL, N.C. --(Business Wire)-- June 17, 2004 -- Most businesses save up to 10 percent of their annual revenues each year through quality initiatives, according to a new study by research and consulting firm Best Practices, LLC. Based on a survey of 84 companies and 15 case studies, the findings act as a primer to assist companies on how to choose the best productivity approach based on the improvement or goal sought. Best Practices, LLC is now offering a discount on all benchmarking research. Save 10% on all published research through July 2 and receive one free seat to the Best Practice Database with Five Star Access. Visit http://www3.best-in-class.com/rr404.htm for more details. "Lean, Six Sigma & TQM Project Success: Recent Case Studies and Benchmarks," available at: http://www3.best-in-class.com/rr321.htm, offers an outline of companies' recent improvement projects, complete with actual results and descriptions of lessons learned. For example: -- One leading bank deployed a three-point plan designed to focus its efforts, enable high quality and generate results. The plan improved customer delight by 20 percent and added 2.3 million customer households. -- One global pharmaceutical company was operating at 50 percent of the manufacturer's stated capacity due to underperformance, unplanned downtime and rejects. After applying variability reduction to their system, the number of units manufactured each day more than doubled over a one-year period. The benchmark metrics in this study reveal which project approach is best used for the improvement sought and what type of results to expect. Additionally, the report includes: -- Defect and cost reduction techniques -- Typical scope and average duration of improvement project -- Average annual dollar value contribution expected for the productivity approach -- Average targeted savings and revenue goal for productivity efforts annually "This research provides an invaluable perspective on the current landscape of quality efforts," said Chris James, vice president at Best Practices, LLC. "Leading global companies reveal their accrued experiences, metrics and lessons learned." Download a summary and excerpt of "Lean, Six Sigma & TQM Project Success: Recent Case Studies and Benchmarks" at: http://www3.best-in-class.com/rr321.htm . For more information about this report or other benchmarking reports, contact Mike Rogers at (919) 767-9255 or at [email protected]. ABOUT BEST PRACTICES, LLC Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. For more information about Best Practices, LLC, call (919) 403-0251, or visit the corporate website at http://www.best-in-class.com/. [ Back To TMCnet.com's Homepage ]