Six Sigma Financial Tracking and Reporting
- 7h 9m
- Brian McKibben, Michael Bremer, Thomas McCarty
- McGraw-Hill
- 2006
Move Six Sigma Savings to Your Bottom Line.
Most business process improvement activities do not yield the P&L dollar savings impact that executives expect to see. If this is a challenge in your organization, you need Six Sigma Financial Tracking and Reporting. This operating manual shows Master Black Belts, Black Belts, Project Champions, Sponsors, and Six Sigma and Lean Manufacturing/Enterprise practitioners how to increase the yield of savings dollars that hit the bottom line. This is a major challenge for any improvement initiative.
Loaded with advanced yet practical approaches, leadership pearls, and analytical solutions you can use to get more out of your improvement activities, this book:
- Clarifies why some savings do not have a P&L impact
- Explains the interplay between Six Sigma savings and business activities
- Makes it easier for operations managers, accountants, and engineers to speak the same language
Success stories and actions taken at Motorola, Agilent, Allied Signal, General Electric, a private healthcare foundation, and other organizations will hold your interest and provide a steady stream of innovative ideas that will demystify accounting procedures, clarify the role of leadership, and gain more alignment inside the organization.
Achieve a clear line of sight from project savings to financial accounts:
- Model for getting savings into the P&L
- Designing bridge P&L model structure--Define in DMAIC
- Tracking and communicating bridge metrics--Measure in DMAIC
- Identifying the things that are "off track"--Analyze in DMAIC
- Planning corrections to keep "on track:--Improve in DMAIC
- Adjusting the support systems to sustain the P&L bridge--Control in DMAIC
- Getting the savings in struggling or transitioning industries
About the Authors
Michael Bremer is President of The Cumberland Group—Chicago, as well as adjunct senior consultant for Motorola University. He is a nationally recognized speaker on process improvement, leadership, and management team effectiveness. He is a board member of the Association for Manufacturing Excellence—Midwest Region.
Brian McKibben is a Co–Chief Executive Officer of Flow-Works, Inc., and a Vice President of The Cumberland Group—Chicago. He is a board member of the association for Manufacturing Excellence—Midwest Region, and is past president of the Chicago chapter of the Institute of Industrial Engineers.
Thomas McCarty is Executive Vice President and Six Sigma Practice Leader at Jones Lang LaSalle Americas, Inc., responsible for improving the business performance of suppliers, partners, and customers through consulting on performance, process, and continuous improvement.
In this Book
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Six Sigma Financial Tracking and Reporting
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Introduction
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Financial Bridge P&L Model
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Define—Defining What Is Important
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Measure—Developing and Tracking Bridge Metrics—“Measure” in DMAIC
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Analyze—Identifying the Things That Are “Off Track”
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Chapter 6: Improve—Make It Happen, Effectively!
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Control—Sustain the Gains
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Assessment Instruments
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The Role of Leadership and Governance in Driving Financial Impact
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Shareholder Value and Business Profitability
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Support Systems—People Side of Bridge Process
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Continuous Improvement Processes
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Multipurpose and Next-Gen Tools
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Bridge Process Outlines
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