Difference Between DFSS and DMADV

To add to Ram J's great succint explanation - This may take a few people by surprise, but per Piet van Abeelen (GE Corporate VP of Six Sigma), DMADV is "Six Sigma for poets", therefore no longer in the eyes of GE a valid roadmap for transactional companies to circumvent the measurements required by DMAIC (most often by simply replacing baseline measurements with a QFD). The roadmap for DFSS at GE is now DMADOV, with measurements and optimization steps stictly enforced. Because of the nature of the newly re-defined DMADOV, it is used for new product introduction or large enterprise-wide processes. DMAIC is the way to go for anything else, the argument being: Six Sigma is not about designing processes for the sake of it - what is the business problem you are trying to solve ? why would you want to design a new process if you have no data to tell you that you need it, or that the current situation is not working ?