Banking(Lean)

The lean philosophy centers on the elimination of waste in all forms in an organisation (Shpak, 2016). Lean is usually implemented by initially conducting training, initiating pilot projects and implementing changes (Poksinska, 2010). Some of the benefits of lean implementation includes: improves quality and safety; improves staff moral; improves throughput; improves delivery and helps in cost reduction (Jones and Mitchel, 2006; NHS Institute for Innovation and Improvement 2007). The challenges of lean implementation include: resistance to change and lack of team work; limited communication and leadership and staff having less knowledge of the lean concept (Grove et al., 2010; Halling and Wijk, 2013 and Poksinska, 2010). This research is to explore some challenges of

“Lean is a systematic approach to identifying and eliminating waste (non-value-added activities) through continuous improvement by flowing the **product at the pull of the customer in pursuit of perfection.” Lockwood [24].

With the lean thinking process comes new ideas, systems and equipment that have been realistically applied to enhance the flow process. Methods used to deal with organization, standardization, exclusion of non-value added steps and overall visual control.

The lean philosophy centers on the elimination of waste in all forms in an organisation (Shpak, 2016). Lean is usually implemented by initially

The implementation of lean operations is one the most popular ways to improve efficiency and productivity in operations. This strategy has afforded many businesses the opportunities to streamline processes that resulted in improved systems and efficiency. However, many businesses face obstacles with implementing lean practices for various reasons such as unclear directions, employees that are resistant to change, and poor planning. Businesses that encounter issues with lean implementation must identify performance metrics to improve operational strategies. This paper will examine the obstacles businesses experience with lean implementation.

However, there is lack of understanding of how to implement a manufacturing improvement concept to a service oriented industry. Although there is strong evidence that, when properly applied, Lean can provided marked improvement in a healthcare setting. These improvements are tied to a strong commitment from the leadership to provide clear and concise guidance, goals, benchmarks, and to motivate the staff beyond the “bandwagon effect” by providing positive feedback and timely assessments of the effect of the new processes and protocols.

One of the main issues when it comes to implementing lean accounting is that it exposes many things throughout a business and with this reveal comes potential changes that may alter the way a business incorporates its manufacturing process. When a company implements lean accounting into the daily business activities, the business is setting themselves up for success to evaluate the way it does business and identify potential activities that they can reduce in an effort to eliminate unwanted expenses and maximize on profits. However, having this much information when it comes to every aspect of the business may turn out to actually be a downfall in the business as a whole because when a company implements lean accounting they may see some needed

In services, Lean must focus on eliminating waste differently than manufacturing. Minimizing lead times between customer demand and fulfillment can be one of the ways to reduce waste. The services sector is now moving towards enhancing the customer experience. With this goal, there should be proper alignment between efforts to improve operational efficiency and achieving more customer satisfaction. (Ganapathy, 2015, p. 5).

Lean is defines the manufacturing philosophy that reduces the time between the shipping and customer demand, which based on the systematic method by eliminating waste, that means giving the customer what they want when they want it, and don 't waste whatever. Rahmana, Sharif and Esa (2013) suggested lean production is mentioned to improve the company 's performance from the philosophy in reducing waste in order. That means, lean system destination is the decrease cost by removing the non-value activities, which they are applying a category of tools and techniques for checking and eliminating defective in the production process. In the Evenort Company should emulate the five overriding principles of lean thinking in terms of implementing lean that there is guarantee the company has been driving correctly in the lean manufacturing (Cardiff 2015) as can show in table 1.

The idea of eliminating waste, also known as muda, from various processes has been sought after and practiced for centuries. Waiting for a product that isn’t being processed wastes time, excess inventory wastes space, and underutilization of employees wastes creativity. Lean may seem somewhat new, considering it was only formally identified in the 1990’s, however, there are now many businesses that put emphasis on the importance of lean. Some companies, such as Boeing, even have organizations focused on the implementation of lean.

Lean is a philosophy that focuses on maximizing value to a customer and at the same time minimizing waste. This philosophy can be applied across all processes of the business. Lean methodology overcomes various waste associated with the process. There are various lean tools like Value Stream Mapping, JIT, TPM, 5S, Jidoka, Kaizen etc. which helps organization to streamline their process and giving customer products of highest quality thereby earning customer satisfaction.

Lean Thinking is an improvement approach to improve flow and eliminate waste that was first introduced in 1987. At the beginning, Lean describes production methods and product development, when compare to traditional mass production processes, which produce more with higher quality and in a short time. The Lean’s goal is to develop a way to specify value, line up value to create value in the best sequences, conduct these activities without interruption and perform them more effectively (Womack and Jones 2013).

The service industry has an interesting outlook when it comes to implementing lean ideas; a copious amount of those in the industry do not believe lean applies to them. The finance industry, a sector of the service industry, is not exempt from that mindset. Deepak Goyal, a practitioner in health care strategies for Strategy&, has a different opinion on the matter, “Finance is just a different kind of factory. It is a processing factory, and there 's a lot of waste. The basic philosophy doesn 't really change.” (Global Focus, North America, 2009) Credit unions in particular can reap a large amount of benefits by implementing lean.

Lean is a process where creating more value to customers by minimizing wastage, time with less resources. Lean organization understand the customer value and try to increase proceed which adding more value to the business. In order to accomplish the lean thinking

Answer: The use of Lean manufacturing defines numerous types of waste that make a production system inefficient and costly. These are: