Six Sigma at 3m, Inc.

Published: 2021-06-29 06:58:33
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Category: Business

Type of paper: Essay

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Six Sigma at 3M, Inc.

1. What will be the benefits, costs, and risks of the Six Sigma program, and how will they be tracked and reported?

Benefits for 3M include:
Overall cost savings
Time savings
Improved internal and external customer satisfaction
Increased cost reduction
Manager development
Improved supply chain management leading to better cash flow
A standard approach so there is a common understanding
Accountability
Customer requirement driven
Costs:
Training
Hiring consultants or "black belts" in Six Sigma
Having the "Right People" could increase hiring costs
Risks:
Selecting inappropriate projects
Not having the "right people, tools and support to get the results.
No buy-in from management
Lack of analysis to effectively improve processes
Costs too high before payback is seen

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