Article2008

Using Six Sigma DMAIC to improve credit initiation process in a financial services operation

Sameer Kumar · Anthony D. Wolfe · Katherine A. Wolfe

42 citations0/0 files storedInternational Journal of Productivity and Performance Management

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Quality and Supply Management Management and Optimization Techniques Management Systems and Quality Improvement

Abstract

Purpose – The credit initiation process for mid‐level corporate credit card customers involves dependencies on multiple people across divisions considered as a critical function for a US financial services company. Increasing efficiency and effectiveness of the process could save time and money for the company. The purpose of this study is to analyze the process using Six Sigma DMAIC tools in order to determine inefficiencies; specifically, to decrease the number of days it takes from the time a company submits a request, to the time it is approved from 20 days to 15 days, resulting in a 25 percent improvement in throughput.

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References

2000Operations Management for Competitive Advantage 2003Using the six-sigma metric to measure and improve the performance of a supply chain 2007Supply chain management six sigma: a management innovation methodology at the Samsung Group 2005A conceptual model for the application of Six Sigma methodologies to supply chain improvement

Cited by

2012Global views on integrating Six Sigma and ISO 9001 certification 2012Drivers, processes and consequences of financial innovation: a research agenda 2021Using Six Sigma DMAIC for Lean project management in education: a case study in a German kindergarten 2020Application of Six Sigma methodology in an Indian chemical company 2013Developing a Six Sigma framework: perspectives from financial service companies 2023Implementing Lean Six Sigma in financial services: the effect of motivations, selected methods and challenges on LSS program- and organizational performance 2019Quality Control with Six Sigma DMAIC and Grey Failure Mode Effect Anaysis (FMEA) : A Review 2017A Six Sigma DMAIC Process for Supplier Performance Evaluation using AHP and Kano's Model

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