Date of Award
8-2016
Culminating Project Type
Starred Paper
Degree Name
Engineering: M.E.M
Department
Mechanical and Manufacturing Engineering
College
College of Science and Engineering
First Advisor
Dr. Ben Baliga
Second Advisor
Dr. Hiral Shah
Third Advisor
Dr. Balasubramanian Kasi
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Keywords and Subject Headings
Lean Six Sigma DMAIC billing
Abstract
The purpose of this project was to analyze the impact of applying Six Sigma concepts to solve redundancy issues in corporate trust operations. It is an assessment that was performed in the key operational fee processing unit in the Corporate Trust Services (CTS) department in a fortune 500 company. The project focused on the daily administration of fees including: set up, invoicing, collections, supporting comments for fee adjustments, waivers, accurate termination of account fees in key systems of record and business procedures relating to the collection of these fees. The assessment included all Corporate Trust Service business lines and products and the time period in scope was March 1st, 2016 through June 15th, 2016. In this project the DMAIC methodology was used to reduce the number of invoice adjustments and Six Sigma techniques were used to analyze and improve their issues at hand. The results of the project indicate that Six Sigma can positively impact organizational performance by reducing or eliminating redundancies and increasing efficiency. Through the deployment of a poka-yoke system key changes were able to be recommended to facilitate the changes needed.
Recommended Citation
Daffa, Elily G., "Applying Lean Six Sigma Concepts to Improve Fee Billing Processes" (2016). Culminating Projects in Mechanical and Manufacturing Engineering. 52.
https://repository.stcloudstate.edu/mme_etds/52
