According to a new study from Best Practices LLC, most businesses save as much as 10 percent of their yearly revenues through quality initiatives.

Based on a survey of 84 companies and 15 case studies, Best Practices says the findings act as a primer to assist companies on how to choose the best productivity approach based on the improvement or goal sought.

“Lean, Six Sigma & TQM Project Success: Recent Case Studies and Benchmarks” offers an outline of companies’ recent improvement projects, complete with actual results and descriptions of lessons learned.

For example, one bank deployed a three-point plan designed to focus its efforts, enable high quality and generate results. The plan improved customer delight by 20 percent and added 2.3 million customer households.

Best Practices says the benchmark metrics in this study reveal which project approach is best used for the improvement sought and what type of results to expect.

“This research provides an invaluable perspective on the current landscape of quality efforts,” said Chris James, vice president at Best Practices in Chapel Hill. “Leading global companies reveal their accrued experiences, metrics and lessons learned.”

Additionally, the report includes defect and cost reduction techniques, typical scope and average duration of improvement project, average annual dollar value contribution expected for the productivity approach, and average targeted savings and revenue goal for productivity efforts annually.

Best Practices: