Six Sigma Benefits For Your Company
Six Sigma is an impressive tool that can help any business or organization cut costs, improve operations and increase sales. Employees who obtain a Six Sigma certification can also help a company develop a culture that emphasizes continuous improvement and development.
When a company offers impressive benefits, it can boost employee morale and retention rates. These perks and benefits can be especially helpful when employees need a morale boost during the toughest times of the year.
Improved Product Quality
Improved product quality is a great way to differentiate your brand from the competition. A high-quality product is a surefire way to gain repeat business and build customer loyalty. It also allows you to create products that are better for the environment and your bottom line. Using the right materials, equipment and tools can also lead to increased productivity.
The best way to do this is with a quality management plan. It may include techniques such as Kaizen, Six Sigma and the Toyota Production System. The most important part is educating your staff on what the best ways are to ensure that all aspects of your operation are operating at peak levels. It is also essential to train your staff on the pitfalls to avoid in order to prevent costly mistakes from occurring in the first place.
Reduced Operational Costs
Operational costs are expenses that are incurred as part of the normal day-to-day activities of a business. They include direct costs of goods sold (COGS) and other operating expenses, such as rent, equipment, inventory costs, marketing, payroll, insurance, and funds allocated for research and development.
The operational expenses are deducted from revenue to arrive at operating income. This can give a clear idea of the efficiency of a company’s operations and helps determine whether it can be run more efficiently.
However, reducing operating costs can be difficult because it may affect how the company operates. For example, cutting down on office space can affect how employees work and how productive they are.
Increased Customer Satisfaction
Customer satisfaction is a crucial part of any business because it helps build loyalty and retention, generating repeat sales and referrals. In addition, it is 7x cheaper to keep customers than to acquire new ones!
The ability to satisfy customers when something goes wrong is a major factor in how loyal they are. This is especially true in businesses that offer complex products or services, such as airlines or automobiles, where strong recovery processes are essential to minimizing customer complaints.
Often, high dissatisfaction with a product or service is not just the result of a lack of customer care; it is also a sign that the company has attracted or retained the wrong type of customers. It is a costly mistake to retain difficult-to-serve customers whose needs the company cannot profitably serve.
Productivity is a key indicator of how efficient a company’s production process is. It’s a measure of how much output a business can produce from its resources (such as labor, capital and raw materials).
Increased productivity increases a firm’s profits, which in turn increases the return on investment for shareholders. It also improves business performance by making a firm more competitive in global markets.
Companies can increase their productivity by using technology, improving efficiency and increasing customer satisfaction. These factors boost the profitability of a company while ensuring that it can deliver high-quality products to its customers at an affordable price.
Company Six began as Sphero’s Public Safety Division, a spinoff of the Sphero team that brought robotic toys to market and created a passion for providing innovative tools for first responders and professionals with dangerous or difficult jobs. Founded by former Sphero CEO Paul Berberian and COO Jim Booth, the company believes it can build robust and feature-rich technology that’s affordable enough for civilian and military personnel to adopt.
In a world where technology continues to gain in popularity, it makes sense for companies to take stock of their revenue trends and use the information to improve the products they offer. This allows companies to do more with less resources, which in turn increases their revenue.
Company six, which started as Sphero’s public safety division, builds technology to advance the awareness and protection of first responders, government, defense, and those who work in dangerous situations. The spinout is led by former Sphero COO Jim Booth and Paul Berberian, who both have military backgrounds.
The company’s first product, ReadySight, is a one-pound, throwable video-streaming robot that can be tossed into a challenging situation. It can maintain a high-resolution, high-definition view of the scene and assist in rescue efforts.