Effect of lean six sigma and recent technologies on environmentally sustainable manufacturing and financial management practices

2024-06-21T06:40:37+00:00

Lean Six Sigma (LSS) is being used by manufacturing industries to improve operations, competitiveness and sustainability in a competitive industry. There is a demand for a study to investigate the impact of recent technologies (RT) and LSS techniques on environmentally sustainable (ES) manufacturing and financial management practices in Saudi manufacturing industries. The study intends to examine the influence of LSS and RT on the management of the Saudi manufacturing industries. A set of hypotheses is developed to address the study’s objectives. A survey methodology was followed to investigate the effect of LSS and RT on ES practices in Saudi manufacturing industries. The questionnaire content was prepared and validated with the assistance of seven experts. The author applies exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM) to validate the responses. The author invited 277 food and chemical manufacturing employees across Saudi Arabia. A total of 205 responses were received from the participants with a response rate of 74.00%. The regression analysis found that the variables obtained were LSS (R²=0.73), RT (R²=0.58) and ES (R²=0.63). The findings confirm the significant relationship between LSS, RT and ES. The integration of LSS methodology with cutting-edge technology offers a comprehensive strategy for enhancing ES and financial management in manufacturing sectors through waste reduction, efficiency improvement and adopting new practices. In addition, the study outcomes can assist the researchers in extending their innovative ideas for implementing LSS in industrial sectors.

International Journal of Applied Economics, Finance and Accounting

Effect of lean six sigma and recent technologies on environmentally sustainable manufacturing and financial management practices