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7 waste identification for investment banking sector

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  • #24827

    Ashky
    Participant

    Hi,
    Can any one tell me how should  i  identify 7 waste in investment banking. I have a manufacturing industry background but using those same concepts here doesn’t make sense to me.
     
    Ashky

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    #59559

    GB
    Participant

    Muda is Muda…Waste is waste…
    MFG, or transactional…same.
    7 Wastes:
    Overproduction – In bankspeak, it could be the paper “vehicles” used to transact
    Movement of Mat’l, or info – Self explanatory
    Correction – rework of any process, or transaction (think ledgers and daily counts)
    Motion of people, information, etc… (Think spaghetti chart)
    Inventory/resources- Carrying costs, office supplies, account ins/outs, etc…
    Waiting – Queues for any of your processes, People, Customers, etc…
    Processing – Paper, e-transx’s, People, etc…
     

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    #59561

    Erik Gillet
    Participant

    Hi,
    I am the Finance Lean Sigma Lead for a major bank. Here are some examples to help you identify the 7 types of waste (SWIMTOO) in an office/service environment. See if this helps you on your way:
    Scrap/Defects: Missing information, errors, rework, customer complaints
    Waiting: Waiting for paperwork, system downtime, time between batches, waiting for decisions/approvals, waiting for shared equipment
    Inventory: Forms waiting to be work on, cash not used to generate income, office buildings not completely utilized, holding unnecessary materials in archives/racks/shelves
    Motion: Walking to deliver paperwork, non-ergonomic office lay-out, chasing for information, searching, walking
    Transportation: Using mail where e-mail could be used, paper processes (especialyl those requiring many original signatures)
    Overproduction: Working on the wrong thing at the wrong time, unnecessary paperwork, working on applications that will be rejected
    Overprocessing: Non-value added steps, redundancies (several people doing the same)
     
    Kind regards,
    Erik Gillet

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    #59562

    Andres Slack
    Participant

    This may sound too simple, but it’s the way to do it: Build a Value Stream Map THEN look for the usual suspects (TIMWOOD, SWIMTOO, etc) at each and every step.  
    IMPORTANT: A team will always do better than a lone wolf in this exercise.

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    #59614

    Grainger
    Participant

    Non-executive directors are a waste – they did nothing to stop the madness.

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