Quality Management

Positive cash flow allows a company to operate, invest, and grow in a way to reach its potential. It is important to keep in check the net amount of cash receipts minus cash expenses by monitoring, analysing, and optimising them. Cash flow management helps in knowing when where and how your cash needs will occur. Also, it helps in being prepared for meeting the additional cash needs whenever required. The net amount of cash and cash equivalents being transferred from into and out of the business can be managed more efficiently by adopting various methodologies that not only improve your business tactics but also help you to renovate and carry out your business profitably.

The ongoing outbreak of coronavirus presents an alarming situation in the minds of all. From domestic workers to the private sector employees, this pandemic has held everybody’s lives. In a situation that is impacting everybody globally, it is necessary to keep ourselves occupied by doing something or the other. KPMG believes that knowledge never goes to waste and therefore, encourages its public to always learn new concepts and programs that are of integral importance to the industry.

With no clear sight of endgame and several jobs at stake, it becomes imperative for businesses like automobile to strategise and undertake certain approaches. To deal with unfavorable conditions in the economy, businesses shall invest in programs like Lean Six Sigma that would not only help them to bounce back into the market but also help them to improve their performance and eliminate wastes. By adopting programs like these, companies can benefit with better cash flow, can raise equity and also diversify their line of business.

If we discuss its role in Six-Sigma, fishbone diagrams are used during the “analyse” phase of DMAIC approach to dig to the root cause of a problem. It makes the brainstorming sessions productive. Frequently it is observed that such sessions don’t bring out useful ideas or information, but using the fishbone diagram tool with it translates it into a well-structured form and unveils unobvious potential causes.

Lean Six Sigma (LSS) is known for process improvement & reducing operational costs based on statistics. It helps map, measure & improve the quality of a process. Incorporating it in IT, helps develop detailed work instructions & manage its services to increase their service quality.

Lean Six Sigma is not just a hypothetical model but a practical solution to almost all the problems that involve any kind of process. But before we proceed with the discussion on Lean Six Sigma, the question that needs to be answered is “Why should one do Lean Six Sigma Green Belt Certification ?”

Proper decision making for problem solving has always been a crucial aspect for organizations to grow. Apart from root cause analysis, Green belt training also empowers one with hypothesis testing tools which uses statistical analysis to determine whether the recorded differences between two or more samples are by chance or the differences are true. It explores relationship’s statistical significance in experimental setting. The results of the test allow examining cause & effect while making crucial business decisions.

Startups are companies initiated by entrepreneurs or individual founders to search for a scalable business model and start new businesses that intend to grow beyond the solo founder and have employees and work at a large scale.  Startups face high uncertainty and do have high rates of failure, but the minority that goes on to be successful companies have the potential to become large and influential. Some startups become unicorns, i.e. privately held startup companies valued at over US$1 billion. Startups usually begin by problem interviews, solution interviews, and building a prototype, to develop their business models. Using heuristics and biases in startups by founders and co-founders is quite common as due to lack of information and high uncertainty the need to make quick decisions arises of and on. They also end up becoming overconfident in making decisions and reach conclusions about the larger population using a limited sample. Since they are nascent entrepreneurs and new in the business world, they may have less experience due to which they even try to seek feedback from their mentors who guide them but to a certain extent. To become attractive business partners and highlight their existence, startups need to align their internal features including their products and services with the market situation. The failure rate of startup companies is very high. A 2014 article in Fortune estimated that 90% of startups ultimately fail. In a sample of 101 unsuccessful startups, the top five factors in failure were lack of consumer interest in the product or service (42% of failures); funding or cash problems (29%); personnel or staffing problems (23%); competition from rival companies (19%); and problems with pricing of the product or service (18%). Startups typically operate under a lack of resources, have little or no operating history and consist of individuals with little practical experience and therefore it is possible to simulate startups in a classroom setting with reasonable accuracy. Many institutions and universities provide training on startups. Some of them are entrepreneurship courses that also deal with the topic of startups, while other courses are specifically dedicated to startups. The knowledge of Lean Six Sigma and its application can help the startups and small businesses overcome their shortcomings and if its methodologies are applied from the very beginning it could result in high savings, especially in a business that produces a high volume of standard products or services every day. The first step to start implementing Six-Sigma is to train the management team and all the employees on the basics of Six Sigma and the DMAIC methodology. This will help the company in improving the project by project and implementing theory right away. Lean Six Sigma is a continuous improvement technique that can boost any organization’s profit and productivity by its integrating processes. It can decrease an organization’s cost in several ways and help in eliminating needless actions from any process. Also, it allows an organization to divide resources or revenue to create efficient processes. With so many advantages it is evident that lean six sigma application can help any startup and small business to flourish and make its mark. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at +91 9555688555 or +91 9022033666. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme

The Indian textile industry is an extremely varied and widespread industry. It is one of the oldest industries with hand-woven and hand-spun textile sectors at one end of the spectrum and capital-intensive mills sector at the other end.  India's overall textile exports during FY 2017-18 stood at US$ 39.2 billion in FY18 and is expected to increase to US$ 82.00 billion by 2021 from US$ 31.65 billion in FY19 (up to Jan 19). The decentralized knitting sector and power looms form the largest component of the textiles sector. This industry has the capacity to produce products for different markets spread across the globe. Lean six sigma minimizes process variations and product or service defects by using statistical techniques and tools to identify and implement changes in the working of the business process to make it effective and efficient. These techniques and methodologies if applied in a structured manner can improve any company’s performance. Lean six sigma eliminates wastes and defects and reduces resources’ usage if everyday business activities are designed and monitored closely. It provides techniques and tools which improve the performance and capability of any business and provides efficient manpower cultivation and utilization. The application and usage of the seven basic tools in a Lean Six Sigma process- cause and effect diagram, check sheet, control chart, scatter diagram, histogram , Pareto chart, scatter diagram and stratification together help in identifying the defects and keeping a close eye on the functioning of the ongoing business process that further helps in aligning key business processes to achieve those requirements, understanding and managing customer requirements and also, driving rapid and sustainable improvement to business processes. The sigma scale is perfectly correlated to characteristics such as defects per unit, parts per million defective and probability of a failure or error. This clearly shows the scope and way for further improvement by indicating the flaw in the process, if any. Six Sigma models like DMAIC AND DMADV are used extensively to improve the existing processes and employ the new products, respectively. Applying Lean Six Sigma in textile industry reduces rejections in shipments, eliminates defects or errors, improves merchandiser performance, improves supplier evaluation processes that are extremely important and first sample approval percentages while working with a buyer. Using 6s methodologies also improves processes at the source (including embroidery, packing, stitching, and shipping) to reduce rejections later. Proper implementation of six sigma in the textile industry can reduce the garment cost, get higher production and that too with good quality. Textile industry deals with a lot of variation and defects and is, therefore, the exact place for six sigma application. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at +91 9555688555 or +91 9022033666. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme

For KPMG Lean Six Sigma Training inquiry mail to [email protected] or call at +91 9555688555 or +91 9022033666.

Lean Six Sigma Black Belt training is designed to help individuals master the concept of Lean and Six Sigma methodologies that are complementary; Lean is the set of tools that assist in the identification and steady elimination of waste, Six Sigma is a process improvement technique where the aim is to improve quality. Lean Six Sigma works with any process, product or service that has a definable and measurable performance goal as its working relies heavily on data.

Six Sigma, well known for its statistical tools was founded in the early 1980s by Motorola. It is a process improvement technique that aims to improve quality. It works on the DMAIC (Define, Measure, Analyze, Improve, Control) methodologies and can be thought of as a measure of process performance, based on defects per million. This disciplined, continuous, statistics-based methodology has been built specially to eliminate defects in a process, product or service. Lean Six Sigma combines tools, methods, principles of Lean and Six Sigma into a single powerful methodology to facilitate the improvement of organizational operations. This methodology has largely been accepted and adopted by big firms, global companies, startups, and even small businesses. Lean Six Sigma certification demonstrates the ability of a professional to improve the business standards and increase the efficiency of the organization he or she is working in. Some other reasons why people get Lean Six Sigma certification are- Increases managerial skills: Completing a Lean Six Sigma certification course helps you have a clear understanding of quantifying and measuring financial benefits and acquiring risk assessment and financial management skills. Applicable and valuable in every industry: Lean Six Sigma techniques are applicable in IT, Manufacturing, Service, Pharmaceutical and many more industries. Individuals having Lean Six Sigma certification have knowledge about many methodologies that can be used to increase profits and improve the efficiency of any business process irrespective of any industry. Excellent Salary: Clearing Lean Six Sigma exams is not an easy task. It requires a lot of understanding, knowledge, and experience. Therefore, individuals with Lean Six Sigma certification are well paid and are among the highest-paid professionals globally. Experience in quality management: As a certified Lean Six Sigma professional you’ll have the knowledge and understanding of applying theoretical knowledge in reality. Also, you’ll have more valuable experience than the other workforce. Improve business processes: As a certified Lean Six Sigma professional you’ll be able to investigate, analyze and develop business processes and review the current processes to know their impact. Develops innovation: Lean Six Sigma encourages teamwork and develops innovative thinking in the decision-making process in whichever organization it is applied in. This leads to better solutions and the promotion of new ideas and possibilities. Strategic Planning: Lean Six Sigma certification increases your ability to plan strategically and focus on the important area of concern for improvement. It eliminates unnecessary complexity, and this helps you make your company achieve the targets. The promising success of Lean Six Sigma cannot be overlooked, and the benefits derived from its training are endless. It not only benefits an individual certified in it but also the organization applying it in its process. Using Lean Six Sigma is a journey in itself during which an organization transforms rapidly and experiences significant improvement. For KPMG Lean Six Sigma Training registrations mail to [email protected] or call at +91 9555688555 or +91 9022033666. Lean Six Sigma Black Belt Training Programme Lean Six Sigma Green Belt Training Programme