HNB Assurance wins ‘Gold’ at National Quality and Productivity Convention
HNB Assurance PLC bagged the Gold Award at the National Convention on Quality and Productivity 2024, hosted by the Sri Lanka Association for the Advancement of Quality and Productivity (SLAAQP).
The company’s project to streamline its procurement operations while reducing and lead time was recognised for its impact and use of automation.
Aligned to the company’s broader objective of efficiency improvement and value creation, this award-winning project is part of HNB Assurance’s strategy to improve operational efficiency and achieve 100% paperless operations by 2026.
HNB Assurance PLC’s CEO Lasitha Wimalaratne said; “Winning this award is a great honor as it recognizes our commitment to enhancing our operations wherebyhelping us provide better value to our stakeholders. As a company, we continuously seek opportunities to embrace automation and digitization, so, credit tothe Business Process Excellence Team along with IT, Finance, Procurement and all other teams who collaborated and contributed to this remarkable achievement. I’m certain this recognition will motivate our teams to keep pushing the boundaries of excellence and reinforce our commitment to operational efficiency.”
The Lean Six Sigma DMAIC methodology was used as the teams successfully improved the lead time of the procurement process. The DMAIC methodology can be used to identify bottlenecks, implement solutions, and achieve measurable improvements which in this case improved the overall efficiency ofthe company’s procurement operations.
“In this fast-paced digital world, staying ahead and meeting evolving customer demands requires us to improve and innovate continuously,” stated Geethani Saram, Head of Business Process Excellence and Strategy.
“Internal processes are crucial, especially in the service industry, prompting us to reassess our methods and explore avenues for enhancement. This award resulted from a long-term strategic initiative by HNBA to empower employees for scientific recognition of operational gaps and their resolution through adaptation of Lean Six Sigma methodology.”
“The framework facilitated identifying our procurement process as a critical area for improvement and implementing effective solutions to speed upand set a new standard. My sincere thanks to SLAAQP for this recognition as it validateour efforts and inspires us to continuouslyinnovateanddrive efficiency across all our processes.”
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