This Week in Consulting
Friday, April 27th, 2018
Combining Lean Six Sigma with Innovation
THIS WEEK’S MUST READ
“Lean Six Sigma and Innovation both add value to the business. Whereas the “original Lean Six Sigma” rather focuses on efficiency and cost reduction, the traditional understanding of Product Innovation helps to grow the business. Nowadays, these definitions have been reversed: Lean Six Sigma is also used to grow sales and innovation techniques help to make processes more efficient, too.” Over the last decade, companies and organizations in nearly every industry have introduced Lean Six Sigma to increase customer satisfaction and to deliver impressive results. Another term that has drawn tremendous attention in the business world is Innovation. On the one hand, Lean Six Sigma works towards very low variation in processes with high efficiency. Innovation, on the other hand, seeks to find undiscovered, uncertain territory. Can a corporate culture be developed on both key thinking patterns in order to get the best out of Lean Six Sigma Efficiency and Innovative Solutions? Does it make sense to think Innovation Six Sigma? This Week’s Must Read is a piece from COE Partners where the consultants explain what Lean Six Sigma and Innovation are respectively and how these two different methodologies can be synergized to optimize business performance. Read the full article: “Lean Six Sigma and Innovation”, featuring Dr. Uwe H Kaufmann and Hector Ramos from COE Partners.
INDUSTRY NEWS & INSIGHTS
- Accenture, Cognizant, Deloitte and Synechron Support Top Blockchain Consortium: Leading consultancies have thrown their support behind the world’s largest open source Blockchain consortium. What unites them is a deep interest in learning about the promising Blockchain technologies that are set to radically transform the digital world as we know it. | Coin Spectator
- Comotional Consulting Acquired by Freeman: Global professional services firm Freeman has announced the acquisition of Comotion Consulting for an undisclosed fee. The UK-based consultancy joins Freeman as the brand experience company looks to strengthen its transformation and talent solutions offerings. | Comotional Press Release
- Synechron Launches RegTech Programme for Clients in Financial Services: Following Accelerator programmes for Blockchain, InsurTech, and AI, international consulting and technology firm Synechron has now also made a foray into the RegTech realm. The firm’s RegTech Accelerator programme provides financial services players expertise and a range of tools & applications that increase efficiency in processes relating to regulatory compliance. | Synechron Press Release
- French Consulting Revenues Rise Following Macron’s Election: French consulting market grows at its fastest rate for over a decade. Consultants are very positive about prospects for 2018. The election of President Macron boosted business confidence and helped the French consulting market grow at its fastest rate for over a decade – up 6.2 per cent to €4.55bn in 2017. | Consultant News
Congratulations to the Consulting Quest Team!
It is with great honor to announce that Consulting Quest has been chosen as a finalist for the Best Procurement Consultancy Project Award for the World Procurement Awards 2018! Do not forget to check out our nominated case study.
- Lean SIT Sigma: Combining Innovation with Lean Six Sigma Boosts Performance Excellence: Performance Excellence requires an organizational commitment to finding the best solution in any given situation that will deliver value right along the chain and that may require performance breakthroughs beyond the remit of Lean Six Sigma alone. Learn about Systematic Inventive Thinking (SIT). | Martin Rabinowich, Yoni Stern, SIT
- Linking Big Data to Big Process Improvement…An Imperative: To make sense of the relationships between the data and an organization’s business processes, it takes creativity, statistical prowess, continuous improvement expertise, and process knowledge, the same factors necessary to validate a root cause. Not using any one of these elements means the enterprise-wide potential of Big Data and Big Process improvement is delayed, or anemic in the production of real results. | Robin Dutcher, Capgemini
- Six Sigma and Innovation – A Remarkable Duo: Various Six Sigma methods can be improved using innovation’s best practices. Every effort to improve is an occasion to apply innovation skills and thinking. Tools including the Cause and Effect diagram and the Failure Mode and Effects Analysis (FMEA) promote innovative thinking and team brainstorming. | Alex Orlov, Innovation Excellence
- Rethinking Lean: Beyond the Shop Floor: Once the domain of manufacturing, lean has migrated far beyond the shop floor, transforming service organizations and innovation efforts. The principles of waste elimination, worker involvement and continuous improvement haven’t changed, though, and the results are still impressive. | Special Report from BCG and knowledge@Wharton
- The Surprising Reality Is Freelancers Are Happy and Prospering: The gig economy proves that independent contract work is much more than something to do between jobs. It can be a full-time career. | Victor G. Snyder, Entrepreneur
- Can management consultants make good product managers?: Consultants can make great product managers – if they have a clear understanding of the traits required to succeed, what they’re already good at and what (and how) they need to work on filling the gaps. | Pranav Khanna, LinkedIn Pulse
- 5 Books for Aspiring Consultants: If you’ve been contemplating a shift to Consulting, the following titles will help you build foundational knowledge, assess fit, identify your niche, and gain practical skills. | Harvard Extension
- The Insider Guide to Working in Consulting: Consulting comes in lots of flavours but what they all have in common is bringing a fresh perspective to a business. | Independent, Hannah Langworth
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More