By applying Lean principles and tools, processes become simplified, work is standardized and barriers to future growth are identified and removed. Sound familiar? Now, think about Lean as a catalyst for growth and waste removal across non-manufacturing operations.
Lean Horizons collaborated with GE to institutionalize Lean globally across all financial processes to remove waste and enable sustained profitable growth. GE chose a Consumer Finance division as a pilot location for achieving Lean non-manufacturing benefits. Through this Lean implementation, GE optimized its consumer financing value stream, developed a future-state action plan, and mobilized their professionals to use Lean as an engine for growth. The following are representative results:
|Financed Consumer Spending||+ 44%|
|Credit Approval Closure Rates||+ 24%|
|Incremental Volume||+ 43%|
|Additional Growth in the First Year||+ $216 million|