SHAH ALAM, March 17 (Bernama) -- The public and private sectors in the country recorded savings of RM323 million last year through various initiatives to increase productivity and innovation.

Deputy Minister of International Trade and Industry Datuk Hamim Samuri said the initiatives, such as "Lean Management", helped the sectors eliminate wastage and maximise customer value, thus improving work flow.

"We hope to see many organisations in future implement the 'Lean Management' initiative to improve business processes, besides sustaining productivity, competitiveness, creativity and innovation," he added.

Hamim was speaking at the opening of the Creanova Lean 2015, themed "Maximising Value, Eliminating Waste", here Tuesday.

Lean Management refers to a collection of principles and methods that focus on identifying and eliminating non-value added activities through continuous improvement products and services for the benefit of customers.

Commenting further, Hamim said the Malaysia Productivity Corporation (MPC) had implemented various high impact productivity and innovation programmes to support the efforts of businesses in their productivity journey, namely through the Enterprise Innovation Intervention Programme (EIIP), which served as a roadmap to diagnose the innovative state of companies.

MPC chairman Tan Sri Azman Hashim in his speech at the function said "Lean Management" is capable of reducing business regulations, which is very much in tandem with the government's initiative of encouraging private sector-driven and people-centered growth.

Meanwhile, MPC Director-General Datuk Mohd Razali Hussain told a press conference after the event that Creanova Lean 2015 is an initiative by the organisation for participants from different industries to exchange ideas and share experiences, while interacting on issues pertaining to performance, operational excellence.

He said MPC had from 2013 to date presented Lean recognition certificates to 48 companies for their commitment and dedication to realising the "Lean Management" system.

"This year we are targeting savings of RM350 million among the public and private sectors through various initiatives being undertaken to increase productivity," he added.