Six Sigma Implementation

Six Sigma Implementation

Introduction

Lockheed Martin Corporation is a company of the United States of America which is a specialist in the field of aviation, aerospace, shipbuilding, automation of postal services and airport logistics. The company has its headquarters in Bethesda (Maryland) USA. The number of employees worldwide is 130 thousand. At present, president, the chairman, as well as, the CEO of the Corporation is Robert Stevens.

Lockheed Martin Corporation is the world's largest enterprise MIC (as of 2011). 95% of the income the company is received from the orders from the U.S. Department of Defense, other agencies and departments of the U.S. government, as well as foreign customers.

Discussion

History

The Lockheed Martin Corporation was founded in March 1995. The company was founded as a merger of Lockheed Corporation and Martin Marietta Corporation. In 1996 the company was Loral Corporation acquired for $ 9.1 billion. As a result of the merger, as well as serious financial problems in the late 1990s, large amounts of the Group were sold to the British competitor BAE Systems. This temporarily solved the problems of Lockheed Martin as the largest defense company in the world. After an extensive renovation, however, Lockheed Martin could claim for itself the sold assets back in 2004.

Lockheed Martin has incorporated the use of six sigma in their company as early as the late 90s. The early use of six sigma in the company was however done in small pockets, as is done in most of the companies. Later the system of six sigma was centralized taking into account all the positivity and negativity of the system. The company started using LM21 initiative in the year 1999. LM21 stands for Lockheed Martin 21st century and this meant the implementation of six sigma and lean in eth company to achieve desired efficiency and cost cutting.

Current State of Affairs in the Company

Looking into the current state of affairs of the company, one can find that the company is not working as efficiently as it could have been if it were following the six sigma principles. The company needs to cut short its costs and need to make its operations more efficient. The company needs to implement such a system in that helps in reducing the costs of the company and the operations of the company and also helps in making the operations more efficient. The most needed change that the company needs right now is implementing six sigma practices in the organization.

Six Sigma

Six Sigma is a production management concept, which was developed in corporation with Motorola in the 1980s and was popularized in the mid-1990s, after Jack Welch used it as a key strategy in General Electric. The essence of the concept is the need to improve the quality of the outputs of each of the processes to minimize defects and statistical variations in operating activities. The concept uses the methods of quality control, including statistical methods, requires the use of measurable goals and results, and involves the creation of ad hoc ...