Cost Savings for a Fortune 500 Company

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Cummins Inc.¹ reported their Q4 2009 earnings call today. In that call, they reported a cost savings of over $500MM due to their emphasis on Lean Thinking and Six Sigma. In the words of Tim Solso, Chairman and CEO of Cummins Inc:

We also continue to make heavy use of Six Sigma to drive quality improvements and lower our costs across the company.  Our Six Sigma savings in 2009 were nearly $500 million well above our target and all our business units exceeded their goals for the year.

I don’t know the nature of how Cummins achieved those savings, but for the CEO and Chairman to credit the savings to their Lean and Six Sigma initiatives is quite impressive, to say the least.

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