Due to the highly competitive nature of service industries, lean manufacturing intervened service sector as a methodology to reduce waste and improve productivity. Among various service industries, banking sector was selected for the study due to the highly customer centric nature, product complexity and increased transactional work volume persisting. Study was focused on implementing lean manufacturing practices in banking industries for which different lean enablers existing in banking sector were explored from a detailed field study conducted among various banks. A modified lean implementation model for banking industry was designed from literature survey and field study conducted. Analytic hierarchy process was executed among the different enablers and sub-enablers of lean model to obtain the priority percentage of each. Based on priority percentage from AHP the lean manufacturing model was implemented in one of the branches of a private sector bank. A few performance indicators were identified, observed and analysed from the period of implementation. Various performance indicators including productivity index and customer satisfaction index of the bank was calculated and improvements were achieved, which helped the private banking branch to perform better in the current global competitive market.
T. T. and Dr. Saleeshya P.G., “Application of Lean Manufacturing Practices in the Banking Industry – A case study”, International Journal of Business Innovation and Research, vol. 20, no. 3, pp. 283-304, 2019.