Lean Six Sigma & Innovation

Please join KM Chicago on Tuesday, May 14th at 5:30pm in the Loop for a conversation about Lean Six Sigma, Innovation and Knowledge Management. 

Praveen Gupta, President of Accelper Consulting, and Director of IIT Center for Innovation Science and Applications will lead the discussion on Six Sigma implementations. 

Most Lean implementations have been used to reduce waste in operations. Deploying Lean has led to cost savings, and excess capacity in equipment and human resources. Leadership and stakeholders expect financial returns.  Utilizing Lean aggressively for reducing waste has also resulted in ignorance of the need for business growth requiring innovation. Hence Lean without innovation would result in profit in a shrinking business. This scenario does not appear a viable solution for businesses in the long.

Operational performance accounts for about 10% of the corporate performance. In order to maximize benefits of Lean Six Sigma, corporations must focus on business development by introducing new products or services.

Lean Innovation is a framework that improves efficiency and effectiveness of the innovation process based on best practices of great innovators. Lean Innovation framework reduces waste in the innovation process for accelerating innovation and increasing return on investment in innovation. This way additional capacity is utilized for realizing business growth instead of downsizing businesses.

During the Lean Innovation presentation attendees will learn about Lean Six Sigma Scorecard, new rules of creativity and a new ideation process in for effective Lean Six Sigma deployment. Also, using knowledge management to sustain innovation and business performance.

About Praveen Gupta

Praveen Gupta is a pioneer in Six Sigma methodology, an instructor for Just-in-Time principles and the chief architect of the breakthrough innovation framework (Brinnovation™). Praveen is a Director of Center for Innovation Science and Applications at IIT Chicago. He has taught innovation courses at Illinois Institute of Technology and University of Illinois, Chicago. Praveen has worked at Motorola and AT&T Bell Telephone Laboratories. As a consultant at Accelper Consulting he has worked with dozens of organizations.

Praveen has authored several books including Stat Free Six Sigma for leaning the Six Sigma methodology, The Innovation Solution for leaning innovation process, and Six Sigma Business Scorecard for leaning Balanced Scorecard.