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 LEAN SIX SIGMA WORLD CONFERENCE

Lean Prescriptive and Diagnostic Financial Transformation

Presenter: Brian K. Higgins, Principle, Management Resource Technologies, Ltd., Aurora, CO, USA

Keywords: Management, Lean, Transformation

Industry: Service

Level: Intermediate

ABSTRACT

Today, many organizations – both private and public alike – are under pressure from owners, executive management, and activist investors to improve financial/operational performance necessary to either maintain their competitive leadership or to address financial challenges posed by today’s economy. When organizations are faced with such financial challenges, the Finance team is often looked upon as the “go-to” organization expected to provide leadership regarding the financial aspects of the organization. Unfortunately, many executives having this responsibility may not have the authority nor the wherewithal to succeed in times of crisis and often pay a personal price if not successful, resulting in a comparatively short self-life. Also, organizations often delegate responsibility for operational performance improvement on Lean, Lean Six- Sigma, and Continuous Improvement initiatives. Such initiatives may not be capable of diagnosing the most opportune areas requiring corrective action or improvement. Yet, a critical component to effective financial and operational performance improvement is accurate data on which to base decisions – informed decisions grounded on a heightened understanding of the relationship between customer loyalty, employee engagement, costs, efficiency, effectiveness, and overall financial performance. Activity Value Management (AVM) is a revolutionary Lean-based Financial Planning & Analysis (FP&A) methodology. AVM is both a diagnostic and prescriptive business transformation system that generates unparalleled opportunities for revenue, expense, and performance management that represents the next-generation of FP&A. AVM achieves these outcomes by fusing customer experiences, employee engagement, costs, efforts, and activities with bottom-line performance, applying Lean tenets. What makes AVM successful is an unmatched set of analytical tools that uncover hidden breakthrough opportunities to enhance financial and operational performance at a fraction of the time and cost of other improvement methods. AVM aggressively addresses the many causes of failure and sub- optimized outcomes of improvement initiatives including, but not limited to, the following:

• Lack of management involvement and commitment

• Project selection based on “squeaky wheel” and/or intuition – lack of adequate diagnostics – not related to strategic objectives

• Focuses on peripheral processes rather than core customer value-generating results (e.g., pricing, compensation, structure, etc.)

• Lack of “buy-in” or engagement of affected areas – conflicts with vested interests

• Inadequate information regarding issues, costs, etc.

• Failure to link results to customer-focused strategies

• Financial results don’t flow to bottom line – lack of trace ability

• Results take too long to materialize (lack of dedicated resources, scope creep, etc.) – tries management’s patience • Lack of integration of information from multiple sources

• Over-extended staff, duplication of effort, conflicting objectives, etc.

• “Expert” support diminishes – facilitators move on to new teams

• Inability to “dislodge the status quo” – resistance to change The proposed presentation will be punctuated by a case study that achieved $30M in breakthrough improvements in performance while realizing a 15% increase in revenue.


Download a copy of the
Conference
at-a-Glance


Speaker
Information

PowerPoint submission deadline: 

January 31, 2020

Deadline for hotel reservation:

February 24, 2020

Speakers’ Orientation Meeting:
Tuesday, March 24, 2020
6 PM-7 PM

Please click the link below to download the Speaker Instructions

The conference provides a PowerPoint template. It is optional to use the template. Please click here to download the template.

Government Organizations




Corporations

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