FMD – Reducing Outside Services Invoice Processing Time
Posted July 5, 2013
Project Summary: Improved Fleet’s receiving process, reducing processing time from 110 days on average to less than 3 days, improving customer relations and internal controls, and resulting in the reassignment of 4 FTEs. Estimated savings = $260,000
Lean Six Sigma (LSS) is a customer centric way of thinking and problem solving that seeks to continually identify and eliminate waste.
Lean Six Sigma focuses on:
-Meeting the customer needs
-Eliminating waste (non-value adding activities)
In most businesses, > 90% of resources are spent performing non-value adding activities. Thus, the biggest benefits are driven by eliminating waste.
The elimination of waste results in increased speed and capacity, as well as reduced costs and customer complaints.