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Caselet Filters
SDLC > Agile
R&D/ Product Development > Agile Product Development
Project ManagementOptimizing Agile Portfolio Strategy
A health and fitness company launched an Agile Portfolio Management Implementation project. The key issue, company faced was with inefficient project prioritization and resource wastage, resulting in delayed executions, misaligned initiatives leading to loss of customers. To address these challenges, Benchmark team helped them adopt an Agile Portfolio Management framework. Project introduced advanced prioritization tools, and established weekly portfolio review meetings. Additionally extensive training sessions were conducted for key stakeholders to ensure adherence to Agile practices. These solutions facilitated faster project execution and minimized wastage by optimizing resource allocation. Consequently, the company achieved a 25% reduction in project delivery times and a 32% jump in customer acquisition.
Streamlining Knowledge Management
A Knowledge Management project was done in a call center that struggled with fragmented information and duplicated efforts, leading to significant operational inefficiencies and delays. To resolve these issues, project team decided to launch a Centralized Knowledge Repository. Team consolidated all critical data into a single, easily accessible platform and developed a Best Practices Documentation framework to standardize processes across departments. Additionally, training sessions were provided to ensure effective use and regular contributions from employees. As a result, information retrieval time was reduced by 35%, and operational efficiency increased significantly. This centralized system eliminated redundant work, streamlined workflows, and enhanced collaboration, significantly boosting overall productivity and ensuring consistent application of best practices throughout the organization.
Enhancing Equipment Reliability
A large tile manufacturing factory experienced frequent machine failures, leading to inconsistent production output, variation in tile quality and high repair expenses totaling about INR 5 lacs annually. To enhance reliability, a project was done to adopt Reliability-Centered Maintenance (RCM) practices. Project integrated predictive maintenance technologies, such as vibration analysis and thermal imaging, and established a routine inspection protocol. These measures identified potential failures before they occurred, reducing unplanned downtime by 40% and lowering repair costs by INR 3 lacs each year. The project also extended the lifespan of critical equipment, resulting in improved reliability.
Optimizing Accounting Efficiency
A Lean Accounting project was executed for a leading financial services company to streamline its month-end closing process and reduce accounting cycle time by 40% within four months. The project aimed to eliminate non-value-adding activities, standardize reporting workflows, and improve data accuracy. By implementing Lean methodologies, the finance team optimized processes, reduced manual interventions, and increased efficiency.
Key benefits included a 45% reduction in cycle time, improved financial reporting accuracy, and enhanced decision-making speed, contributing to greater operational efficiency and cost savings.
Operations > Workflow Analysis
Driving Lean Production Excellence
A Lean project was done at a renewable energy equipment manufacturer that faced inefficiencies in their production processes, resulting in delays and higher operating costs. Key issues included redundant workflows, production bottlenecks, and excessive material waste. To resolve this, the team implemented lean manufacturing principles, streamlined production lines, and introduced autonomation in critical areas. They used value stream mapping to identify and eliminate non-value-adding activities. As a result, production efficiency improved by 33%, and material waste was reduced by 21%. The company achieved annual cost savings of approximately INR 40 lacs due to increased throughput and reduced waste. These leaner processes not only lowered operating costs but also enhanced product quality and reduced delivery times.
Risk Management > Fraud
Quality Control/ Quality Assurance > Lean Six Sigma
Lean Six Sigma > LSSBBRefining Credit Fraud Detection
A Lean Six Sigma Black Belt project was carried out at a leading bank which aimed to reduce the false negative rate in credit card fraud detection by 30% within six months. The project involved analyzing the root causes of missed fraudulent transactions, refining detection algorithms, incorporating additional data points, and using advanced simulation techniques. The outcome was a significant annual reduction of approx. 3.65 lacs INR in financial losses due to fraud, with enhanced accuracy and confidence in the fraud detection system leading to greater customer confidence.
Financial Process Improvement > Legal and Compliance
Lean Six Sigma > LSSGBAutomating Compliance Reporting
A Lean Six Sigma Green Belt project to automate CERSAI reporting was undertaken for a leading housing finance company within 3 months. Key features included automated data extraction, validation, scheduled submissions, real-time tracking for failures, and alert notifications. Financially, the project helped reduce the risk of annual penalties of up to INR 4.5 lacs each year. Additional benefits included enhanced compliance, increased operational efficiency, and minimized errors.
Operations > Additional Operations
Lean Six Sigma > LSSYBStreamlining Data Reconciliation
A Lean Six Sigma Yellow Belt project was done to save time spent in recon of data from two different sources in an investment bank back office. In the KYC process, there was a dual data entry concept where 2 analysts were capturing the details in an excel file. The excel files were reconciled and then the data was uploaded to the server. The manual recon was time consuming. Hence, a macro was created to auto-recon the files and auto-upload the data to the server. This macro saved 0.9 FTE per month.