Improving the efficiency of innovation and investment processes of the enterprise using modern management practices (example kaizen, kanban and six sigma)

Lyzogub Andrey
graduate student of the Department of Trade Entrepreneurship, Merchandising and Business Management, Odesa National Technological University, Odesa, Ukraine, E-mail:andrey1399320@gmail.com, ORCID ID: https://orcid.org/0009-0006-8124-6628

Cite this article:

Lyzogub A. (2024) Improving the efficiency of innovation and investment processes of the enterprise using modern management practices (example kaizen, kanban and six sigma). Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Pidvyshchennia efektyvnosti innovatsiino-investytsiinykh protsesiv pidpryiemstva z vykorystanniam praktyk suchasnoho menedzhmentu (na prykladi kaidzen, kanban ta shist syhma); za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 10 (323), pp. 89-96.

Abstract

The purpose of this comprehensive study is to analyze and evaluate the impact of modern management practices, specifically Kaizen, Kanban, and Six Sigma, on enhancing the efficiency of enterprise innovation and investment processes. This research investigates the transformative potential of these methodologies in optimizing organizational performance and creating sustainable competitive advantages in today's dynamic business environment. The research methodology employs a sophisticated multi-method approach, incorporating both general scientific and specialized analytical tools. This includes systematic analysis, comparative studies, synthesis of findings, comprehensive generalization, and robust statistical methods. The study conducts an extensive review of relevant scientific literature and examines practical implementation cases across various industries, providing a solid foundation for understanding the real-world applications and outcomes of these management practices. The investigation reveals that Kaizen's continuous improvement philosophy significantly enhances an enterprise's adaptability to rapidly evolving market conditions. By fostering a culture of incremental innovation and engaging employees at all organizational levels, Kaizen facilitates sustainable performance improvements and strengthens competitive positioning. The research demonstrates that organizations implementing Kaizen principles experience enhanced employee engagement, reduced operational costs, and improved product quality metrics. Kanban's workflow management system proves instrumental in optimizing production processes and resource allocation. The study highlights how this visual management tool enables more precise planning and execution of investment projects while preventing production line bottlenecks. The implementation of Kanban systems results in reduced work-in-progress inventory, shortened lead times, and more efficient capital utilization in innovation projects. Six Sigma's datadriven approach to quality management emerges as a crucial factor in reducing operational variations and defects. The research indicates that this methodology's systematic focus on process improvement leads to enhanced product quality, reduced operational costs, and minimized risks in innovation implementation. Statistical analysis reveals significant improvements in project success rates and return on investment for organizations utilizing Six Sigma principles. The study's findings contribute to both theoretical understanding and practical application by identifying critical success factors for integrating these management practices into enterprise systems. The research presents a novel evaluation model for assessing the effectiveness of these methodologies in innovation and investment processes. Analysis of leading global companies' experiences demonstrates that the synergistic implementation of these management practices creates a robust framework for innovation management. The research provides evidence of improved financial performance, enhanced operational efficiency, and strengthened market position among organizations that successfully integrate these methodologies. The study also addresses implementation challenges and provides strategic recommendations for overcoming common obstacles in adopting these practices.

Keywords

innovation and investment processes, Kaizen, Kanban, Six Sigma, enterprise efficiency, modern management.

JEL classification: J012; J014; DOI: https://doi.org/10.32680/2409-9260-2024-10-323-89-96

UD classification: 330.354

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