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date: 27 February 2021

Abstract and Keywords

In manufacturing and services, Six Sigma, Lean, and similar approaches have been used to reduce or even eliminate defects, and to remove waste such as excessive inventory or excessively long cycle times. This article, which adapts Six Sigma and Lean methodologies to improve pricing processes through Lean Six Sigma Pricing, discusses how and where Lean Six Sigma Pricing can be applied. It describes how a US-based global manufacturer of industrial equipment applied Lean Six Sigma to its price-setting process for one product line, and also discusses the limitations of Lean Six Sigma Pricing.

Keywords: Lean Six Sigma, pricing management, pricing strategy, manufacturing, price setting

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