Credit Union Operations Flashcards
What is the goal of Lean Principles?
Contextualize this information to your work and department.
Identify opportunities where these principles can apply.
To have an interactive discussion.
What is Process Excellence?
Process > Question > Innovate > Measure
How can you take action?
Empower all employees to ask, How can we do this better? Why should we do this better?
What is the Iceberg of Ignorance?
4% of Problems are known to Executive Mgmt.
9% of Problems are known to Middle Mgmt.
74% of Problems are known to Managers.
100% of Problems are known to Frontline Staff.
What are the steps to understand the process improvements?
Start with Strategic Mission & Vision.
Improve Quality by Reducing Errors and Improved Product Functionality
Increase Profit by Reducing Waste, Minimize Operation Costs, Introduce Business Opportunity
Create Timely Delivery by Reducing the Time of Production and Improve Process Flows.
Create a Better Experience by Improving Service Offerings and Standardizing Operations.
Why are Standard Operating Procedures so Important?
They provide a Written Record
They Eliminate Variation
Create Consistency and Accuracy
Create Standards of Excellence for Productivity
Improves Communication, Reduces Traning
What is Lean Methodology?
A set of management practices that Eliminates Waste and Promotes Continuous Improvement in the organization.
What is Lean Process?
A process that produces: Value, Demand and a Schedule.
What they want, the quantity they want, and when they want it.
While using minimum resources such as People, Operations, Equipment, Materials, and Time
By Eliminating Bottlenecks (You can only go as fast as your slowest process step).
What is 5S Methodology?
Sort, Set In Order, Shine, Standardize, and Sustain
The first step of 5S Lean Process is Sort which means?
That you remove steps in a process that are not needed for an operation. Ask yourself, Are these steps necessary for this process? Will this change reduce operational time?
The second step of 5S Lean Process is Set In Order which means?
That you arrange your process and flow in a way that creates continuous value.
The third step of 5S Lean Process is Shine which focuses on what?
On clean, organized workflow to ensure that distractions cannot impact the process and information canbe found quickly and easily.
The fourth step of 5S Lean Process is Standardize which means?
To focus on Best Practices and Creating a Consistent level of Excellence on daily tasks. To focus on Efficiency and Effectiveness.
The last and fifth 5S Lean Process is Sustain which is?
When Continuous Improvement is the mentality. A Disciplined approach towards a Repeatable Process which in turn Holds Everyone Accountable to find friction points and implement the needed change.
What does Kaizen translate to?
Kai= Change Zen= Good
Change for the Better or Continuous Improvements.
