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Rapid Impact Accelerator
Unleash Swift, Targeted Process Improvements
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Caselets
Quality Control/ Quality Assurance > MSA
Standardizing Measurement Accuracy
A Measurement System Analysis study was conducted at a starch manufacturing company as a part of the project to reduce the variation in starch moisture content. One of the causes identified was lack of standardization in the use of the moisture meter and hence the study was performed. A crossed Gage R&R design was used in the study. Key improvements involved installing a vibration stabilizer table for the moisture meter, revision to the SOPs, training of the floor staff by the lab technician on how the sample has to be collected and spread on the dish. With the improved calibration within the team, the measurements were more accurate and correction of the measurement system reduced the range of moisture content from 4.6%-17.4% to 7.1% – 15.3%.
Business Excellence > Business Modelling
Enhancing Forecasting with Business Modelling
In one of the projects, issues with inaccurate sales forecasts, resulting in inventory shortages and excesses were identified that were costing the company INR 8 lacs monthly. To address this, the project team thought about using business modelling approaches to analyze the historical sales data using multiple regression techniques, identifying key factors such as seasonality, marketing expenditures, and economic indicators. The team developed a robust predictive model that enhanced forecasting accuracy by 25%. This improvement enabled more precise inventory management, reducing stockouts and overstock situations by 30%. Consequently, the project saved the company approximately INR 12 lacs annually and provided better predictions and forecasting for strategic decision-making.
Driving Incremental Improvements with Kaizen
Kaizen burst activity was conducted at a call center to encourage employees to think about small incremental improvements that can make the process better and their life easier. A total of 127 ideas were collected, out of which 103 were implemented. These ideas ranged from developing a macro to combining of 3 steps in a process into a single step. Although there were no tangible benefits from this, however the activity resulted in high employee morale and improved efficiency of the processes.
Streamlining Contract Management
Managing contracts manually led to missed renewal dates and compliance risks, potentially incurring fines up to INR 20 lacs. Project involved deploying a Contract Lifecycle Management (CLM) system costing INR 8 lacs and providing compliance training for INR 2 lacs. The CLM system automated tracking and renewal alerts, reducing missed deadlines by 95%. These measures ensured full compliance, avoided penalties, and improved contract management efficiency, resulting in annual savings of INR 10 lacs.
R&D/ Product Development > Product Lifecycle
Streamlining Product Lifecycle Management
This Product Lifecycle Management project sought to streamline the lifecycle of a popular kitchen appliance plagued by extended time-to-market and high operational costs. The team optimized each lifecycle stage, from design to end-of-life, reducing time-to-market by 20% and operational costs by 10%. Team also implemented a new PLM software system. This efficiency translated to annual savings of INR 4 lacs and accelerated product launches. Additionally, integrating sustainability metrics improved the product’s environmental footprint, enhancing brand reputation.
Discrete Manufacturing > Electronic and Electrical Equipment
Admin > Travel and Expense Management
Automating Travel and Expense Reporting
Travel and expense reporting was a manual and labor intensive task for employees resulting in productivity loss and expense reports not getting processed due to errors. Hence a project was done to address these issues. Project involved providing a real time app to employees to track their expenses, store the images of bills and receipts, automating the expense report creation and auto trigger of exception approvals. This lead streamlined the expense reporting and re-imbursement process saving a total of about 300 man hours a month realizing a benefit of 2 FTE.
Benchmarking Compensation for Retention
An HR analytics project was carried out to do a benchmarking study for the Compensation and Benefit program. The organization faced challenges with retaining top talent due to non-competitive compensation and benefits, resulting in a high turnover rate of 18% at Senior Manager and above level and increased recruitment costs of INR 54 lacs annually. The team benchmarked salaries and benefits against industry standards, implemented equitable pay structures, and enhanced the benefits package by adding performance-based incentives, ESOPs and flexible work options. Additionally, the team introduced transparent communication strategies to ensure employees understood their compensation benefits. As a result, the compensation packages became industry-aligned, reducing turnover to 10% and improving employee satisfaction scores by 20%. This alignment not only enhanced employee retention but also positioned the company as a competitive employer in the market.
Sales & Marketing > Sale Process Optimization
Streamlining Sales Contract Processes
A sales process optimization project aimed at reducing the contract signing time was undertaken at a leading insurance provider. By reducing the average time from 10 days to 2 days the insurance provider was able to increase the contract closure rate from 74% to 80%. Additional benefit in terms of cost savings per contract were INR 550. Key initiatives included assessing a suitable e-signature system, integrating it with existing CRM, redesigning the processes, and training the staff.
Enhancing Service Desk Efficiency
A Service Desk Performance Enhancement project was executed for an organization which operates a chain of electronic stores. The existing service desk struggled with prolonged turnaround times (TAT) for handling service requests, resulting in employee dissatisfaction and decreased productivity. To address these issues, the project team deployed an advanced ticketing system featuring automated workflows and integrated a comprehensive knowledge base to expedite issue resolution. Additionally, users were trained to provide the complete information along with screenshots regarding the issue so that faster resolution could be provided. Project also implemented performance monitoring tools to continuously track the status of the tickets. These solutions successfully reduced the average TAT by 40%, leading to increased employee satisfaction and faster resolution of IT service requests. Consequently, the IT department achieved greater operational efficiency and better supported the organization’s business objectives.
Enhancing Software Testing Efficiency
A software testing enhancement project was undertaken at a leading fintech company. The main issues were slow deployment cycles, frequent integration conflicts leading to lot of effort being wasted in bug fixes. The team implemented continuous integration and continuous deployment (CI/CD) pipelines using tools like Jenkins and Docker. They also automated testing and deployment processes. Collaboration between development and operations teams was enhanced through daily joint standing meetings and shared responsibilities. These initiatives accelerated deployment frequency by 50% and reduced integration issues by 70% leading to a saving of 250 manhours per week for bug fixing.
Financials > Investment Banking and Brokerage Services
Technology > Software DevelopmentStreamlining Order-to-Delivery Process
A VSM activity was carried out to map the entire order-to-delivery process, uncovering bottlenecks that delayed shipments by an average of five days. Post the identification, the team streamlined information flow and coordinated cross-departmental activities, reducing delivery time to two days. Additionally, inventory levels were optimized, decreasing holding costs by INR 2 lacs per month. The project improved customer satisfaction scores by 20% and enhanced overall supply chain efficiency.
Operations > Workflow Analysis
Optimizing Loan Disbursement Workflows
A workflow analysis project was done for a housing finance company in order to identify the bottlenecks in their loan disbursement process. The objective was to reduce the disbursement time from around 28 days to less than 15 days. The entire process was mapped from loan sourcing to loan disbursement, around 35 handoffs were identified in the complete process. The process was optimized to reduce the number of handoffs to 20, non-value adding steps were removed leading to increased efficiency thereby achieving the targeted TAT of 15 days.
Optimizing Steel Utilization
A project was done for the construction division of a conglomerate. The construction company was involved in construction activities at multiple sites within close proximity. It faced significant wastage of steel reinforcement bars, averaging about 6% of total steel usage due to inefficient cutting practices and poor inventory management due to decentralized administration of sites. To address the issue, project team consolidated the cutting of the steel bars at one location, implemented standardized cutting plans optimized through software to minimize offcuts, introduced strict inventory controls, and coupling techniques to use the uncut pieces. As a result, steel wastage was reduced from 6% to 3%, saving approximately 250 tons of steel annually. This reduction translated into cost savings of around INR 43 lacs per year, significantly lowering material expenses and enhancing project profitability.
Maintenance > Asset Management
Implementing RFID for Inventory Control
A project was done in a warehouse that struggled with inaccurate inventory tracking and frequent theft, resulting in annual losses of approximately INR 6 lacs. As a part of the project, the team integrated a Barcode/RFID Tracking System. The implementation involved tagging all inventory items, installing RFID scanners at key access points, and training staff on the new system. This solution enhanced inventory accuracy by 98%, reduced manual stock-taking time by 35%, and streamlined inventory management processes. Additionally, the system’s real-time tracking capabilities decreased theft incidents by 95%, preventing potential losses of INR 4.5 lacs annually.
Admin > Health and Safety Compliance
Strengthening Health & Safety Measures
A project was done to improve the employee preparedness during a health or safety incidence. The key issue identified was confusion and lack of knowledge in the event of a safety incident like fire or water ingress etc. The project involved identifying floor wardens, using better visual aids to identify locations of safety equipment, training and spot checks for employees to gauge their level of knowledge and preparedness in case of an incident. The project helped reduce the incident reaction time from 35 minutes to 15 minutes.
Facility Management > Housekeeping
Optimizing Housekeeping Operations
A project was done to reduce the delays in housekeeping activities for a leading hotel chain. The key issues identified were inefficient scheduling, poor inventory management of cleaning supplies and time wastage in daily administrative tasks. Key solutions implemented included a floor wise scheduling for housekeeping, segregation of duties for administrative tasks, JIT principle for cleaning materials inventory. Project resulted in an efficient housekeeping process which saved about 400 man hours each month and improved availability of clean rooms for guest allotment.
Admin > Administrative Process Improvement
Streamlining Purchase Order Processing
A project was done to reduce the delays in processing the purchase orders. The average TAT was about 10 days. Key issues identified were non-standardized format of POs, multiple level of approvals, recon between multiple systems. Project included implementing a consolidated view of data from multiple sources of data, rationalizing the approval levels and standardizing the PO format. These initiatives led to TAT being reduced to 3 days, enhancing supplier relations.
Automating Back-Office Operations
A project was done to remove the bottlenecks in the back office processes at a shipping company. The company faced delays and errors due to manual back-office processes such as invoicing, scheduling, and compliance reporting. These inefficiencies led to extended turnaround times, increased operational costs and dissatisfied customers. To resolve this issue, the project team implemented RPA to streamline the tasks. As a result, invoicing processing time decreased by 50%, from 48 hours to 24 hours. The company reduced back-office headcount by 15 employees, saving approximately INR 10 lacs annually. Overall, the automation led to quicker turnaround times, reduced headcount, improved accuracy, and significant cost savings.
Risk Management > Simulation
Business Analytics > SimulationAdvancing Risk Management with Simulation
A project was undertaken for a global financial institution to improve its Risk Management framework using Monte Carlo Simulation. The objective was to enhance risk assessment accuracy and reduce high-risk loan exposure by 30% within six months. The project focused on refining input variables and simulating thousands of potential outcomes for better scenario planning and stress testing. Key benefits included a 65% improvement in risk forecasting accuracy, leading to more informed lending decisions, optimized capital reserves, and enhanced financial resilience.
Lean HR > Performance Management
Streamlining Appraisal Management
A project was undertaken to improve the performance management cycle. The appraisal cycle was plagued with delays often leading to employee dissatisfaction and frustration. Key issues identified were delays in goal setting, delayed reviews, delayed feedbacks and departmental issues over the ratings. The project team implemented the concept of SMART Goals. These goals were aligned with the organization objectives and were driven top down. Team also upgraded the HR systems to auto close the review and feedback window in case it is not closed by managers. With these interventions the appraisal cycle time got reduced from 3 months to 45 days and all departments were able to complete the activity before the cut off date. Timely appraisals also resulted in improved ESAT.
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