Framework to improve performance through implementing Lean Six Sigma strategies to oil exporting countries during recession or depression

Basant Chaurasia, Dixit Garg and Ashish Agarwal

International Journal of Productivity and Performance Management, 2016, vol. 65, issue 3, 422-432

Abstract: Purpose - – Today’s global business environment essential requirement to an industries reduction of wastes, reduction of variations, reduction of lead time and innovative feature quality product with minimum cost. That strives to improve customer satisfaction, break through strategies to solve problems with fastest process speed. Lean Six Sigma (LSS) strategy and framework can help during recession or upcoming recession to improve business excellencies and companies strategies against recession. The paper aims to discuss these issues. Design/methodology/approach - – The paper followed views of authors, industrial experts from oil industries regarding LSS strategy, framework, comparative key factors of Lean and Six Sigma to overcome continuously decline oil prices globally. LSS strategy will proactively work as preventive tool for insipid economical growth of oil-exporting countries. Findings - – To follow the LSS guidelines, oil-exporting countries can improve their business performance during ongoing oil price fall that may be influenced on gross domestic product of countries. Originality/value - – The case study may provide some help to survive ongoing crisis of continuously fallen oil price that is highly problematic for oil-exporting countries.

Keywords: Lean Six Sigma; Lean Six Sigma framework; Lean Six Sigma guideline; Oil-exporting countries; Recession time; USA (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijppmp:v:65:y:2016:i:3:p:422-432

DOI: 10.1108/IJPPM-01-2015-0011

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