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Leadership Q&A: Chris Vogel, senior vice president, Wells Fargo Home and Consumer Finance

1/12/2009

From the LEI senior executive series on lean leadership:

When the Federal Reserve entered a period of continually lowering interest rates to keep the economy afloat after the 9/11 terrorist attacks, Wells Fargo was flooded with paperwork as real estate transaction volume more than doubled. Existing technology did not scale well and existing processes were stressed to capacity. Vogel describes how Operations responded with new automation, but more importantly, with leaner processes for handling paperwork, based on the Toyota Production System. He also discussses management challenges, structural changes, and how to sustain improvements. (Vogel currently is an LEI faculty member and also helps companies implement lean management through his company, Compass Affiliates.)