Implementing management and systemic changes from such programs as Six Sigma and TQM (total quality management) can pay big dividends for companies, according to a new study from Best Practices.

The consulting firm’s survey of 84 companies and 15 case studies shows that the management programs can reduce costs by 10 percent a year, the company says.

The study cites several examples, including:

  • “One leading 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.

  • “One global pharmaceutical company was operating at 50 percent of the manufacturer’s stated capacity due to underperformance, unplanned downtime and rejects. After applying variability reduction to their system, the number of units manufactured each day more than doubled over a one-year period.”
  • “This research provides an invaluable perspective on the current landscape of quality efforts,” said Chris James, vice president at Best Practices, in a statement. “Leading global companies reveal their accrued experiences, metrics and lessons learned.”

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