Application of Lean Tool for Process Improvement of Bank Branches

Baag, Pankaj Kumar; Kavitha, P.; Sarkar, Ashutosh

doi:10.1177/2277975219836502

Cited by 6 publications

(4 citation statements)

References 29 publications

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“…When implemented in financial services, VSM can reduce cycle time from 2 working days to 1 working day or reduced 50% [4]. Improvements to the lower customer waiting times and lower stress levels for employees and increased customer satisfaction [9]. Improved service quality and reduced waiting time [24].…”

Section: A Financial Servicesmentioning

confidence: 99%

Value Stream Mapping: Literature Review and Implications for Service Industry

Setiawan

Tumanggor

Purba

2021

j.sist.teknik.industri.

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Value Stream Mapping (VSM) is a technique used in the lean principle that helps analyze the flow of materials and information needed to bring a product or service to the customer. VSM has received a lot of attention in the industrial sector from both the manufacturing industry and the service industry. The development of VSM tools has grown rapidly. Much of the research using VSM tools is carried out in industry and universities. This literature review aims to provide an overview of the implementation of Value Stream Mapping in the service industry and to find out its implications. This paper involves a review study of 45 papers related to a case study of VSM implementation in the service industry. The study was conducted using the Google Scholar database, Researchgate, ProQuest, Elsevier. This paper provides an advantage for the service industry to find problems related to waiting times. This paper extends the knowledge and study of the application of VSM as an unexplored tool in several branches of industry. VSM can also serve as a complementary approach, capable of increasing outcomes in many areas other than services. This paper also provides benefits for future researchers to add insights and references for studies related to VSM in the service industry sector.

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Section: A Financial Servicesmentioning

confidence: 99%

Value Stream Mapping: Literature Review and Implications for Service Industry

Setiawan

Tumanggor

Purba

2021

j.sist.teknik.industri.

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“…Lean management has become one of the approaches taken to increase performance which gain more attention in the service sector ( Seman et al, 2020). Baag et al (2019) support the use of lean thinking that increases satisfaction, profit, and business in bank branches. Lean management has increasingly been seen as a suitable solution to enhance competitive advantage and improve banking performance (dos Santos & Cabrita, 2016); (Kimani, 2016) depicted a strong correlation between supply chain integration and performance in which cost, responsiveness, and security along with others should be considered.…”

Section: Lean Practice and Lead Timementioning

confidence: 84%

The Effect of Supply Chain Management on the Performance of Commercial Bank Organization in Ethiopia's Case of Jimma City

Jemal

2022

IJFAM

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Purpose: the main purpose of this research was to examine the impact of supply chain management (SCM) practice on performance in bank organizations in Ethiopia. Research methodology: Cross-sectional descriptive survey design was employed and three purposively selected government banks were studied using a census sampling approach, the data was collected through pretested questionnaire. The main quantitative analysis was employed using STATA 14. Results: status of SCM practice was at a high level. Spearman correlation analysis revealed that ease of access system support, efficient ordering, lean program, lead time, and customer relationship uniting SCM best practice with profitability have a positive relationship, however ordinal logistic regression analysis revealed that SCM practice dimensions customer relationship with SCM best practice and lean program have a positive significant impact on the profitability of bank organization. Limitations: The study performed at Jimma city may not represent all business process office employees of the bank and further longitudinal study required Contribution: This study offers practical and vital means for supply chain managers to appraise and measure supply chain performance practices. For instance, SCM practices can be employed to assess the degree to of firms' performance practices have been achieved and their impact on enhancing satisfaction. Keywords: 1. Commercial bank 2. Performance 3. Profitability 4. SCM practice 5. Ethiopia

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“…In the long run, the benefits of implementing GLSS, both in terms of profitability and environmental impact, can far outweigh these initial challenges. More profit and business [61] Challenges to implementing lean six sigma initiatives Just like other endeavors, implementing improvement changes emanating from the Lean Six Sigma method has its own challenges, which vary from organizations to individuals. Some of these challenges are discussed below: 1.…”

Section: Figmentioning

confidence: 99%

Exploring lean six sigma: A comprehensive review of methodology and its role in business improvement

Olutade,

Adeyinka,

Durodola

2023

IJMRGE

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In a highly competitive industrial landscape, organizations are increasingly adopting strategies to enhance product quality, with Lean Six Sigma emerging as a notable approach. This paper presents a comprehensive review of Lean Six Sigma, a synergistic approach combining the waste-reduction principles of Lean with the process optimization strategies of Six Sigma. The study underscores the importance of the Lean Six Sigma approach as a valuable tool for businesses, seeking process improvement and increased competitiveness and acknowledging that its applicability depends on an organization’s specific circumstances and needs. Furthermore, the paper critically assesses the benefits and potential criticisms of Lean Six Sigma, providing balanced insights into challenges to its implementation. By offering a comprehensive understanding of Lean Six Sigma, this review paper serves as a valuable resource for organizations aiming to enhance their operational efficiency, reduce cost, and improve customer satisfaction.

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Application of Lean Tool for Process Improvement of Bank Branches

Cited by 6 publications

References 29 publications

Value Stream Mapping: Literature Review and Implications for Service Industry

Value Stream Mapping: Literature Review and Implications for Service Industry

The Effect of Supply Chain Management on the Performance of Commercial Bank Organization in Ethiopia's Case of Jimma City

Exploring lean six sigma: A comprehensive review of methodology and its role in business improvement

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