
Work in Process (WIP)
Published:Proper WIP management creates both quick wins and long term improvements. Here’s what you need to know.
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Warning Limits
Published:Lean business operations don’t happen without defining expectations, collecting data and monitoring results. Statistical limits serve your streamlining goals through efficiency quality control and loss prevention.
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System Audit
Published:The system audit is a beneficial and needed tool to evaluate business processes to determine how efficiently they work. This article provides the understanding needed to correctly execute the methodology.
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Stakeholder
Published:The ability of a process improvement initiative to invoke sustainable change within an organization depends on the support of stakeholders who will execute the proposed changes.
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SCOT Analysis
Published:You need to know more about how to know more about your company. Good analytical practices shape your strategic thinking, which determines your entire future.
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Quality Attribute
Published:A quality attribute is a characteristic of a system that is used to evaluate the system’s performance from the perspective of the end user.
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Project Scope
Published:Effective scope management keeps your project on track by establishing clear goals, progressive milestones, performance standards, and specific restraints across every stage of the process.
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Productivity Target
Published:A productivity target is an established, quantifiable result from a given process. It represents the minimum acceptable value yield from a given quantity of time and resources invested into it.
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Preventive Action
Published:Preventing a problem is better than correcting one. Anticipating and avoiding potential issues before they arise is a hallmark of strong business management.
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Process Stability
Published:In Six Sigma, process stability is extremely important to efficiency and productivity. With a stable process, you have predictability, and quotas can be met.
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Prevention Cost
Published:Lean Six Sigma prevention cost analysis (PCA) is an important tool that can help businesses prevent costly mistakes and improve their bottom line.
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Operational Cost
Published:Running a business involves all kinds of expenses. Rent, materials, labor and just keeping the power on all take money, and these costs add up to your total operational expenditures.
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Objective Evidence
Published:Objective evidence is factual, unbiased data that can be observed and measured. Let’s explore its importance in your Six Sigma practices.
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Master Production Schedule (MPS)
Published:A master schedule is the plan that all your other production plans are based on, which is why it’s so important to get this one right.
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Incoming Goods Inspection (IGI)
Published:An in-depth look at how IGI can help businesses become more efficient, profitable, and less wasteful by helping managers keep track of incoming good compliance issues while ensuring incoming goods meet quality standards set by the company.
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Financial Metrics
Published:Financial metrics are the language of business. Every manager or analyst needs to understand how to evaluate a company’s performance using ratio analysis in order to make objective, fact-based decisions and to communicate those insights to other decision-makers.
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Cost of Conformance (COC)
Published:Conformance is a term that refers to the degree to which a product, service, or system meets its specified requirements. It is the total of all expenses incurred by a company to meet a target quality level for a product or service.
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Cost Target
Published:Some companies struggle to operate within budget because they do not understand the difference between what is possible in theory and what’s possible given the constraints of their business. Knowing the how, when, and why about setting cost related targets helps gain that understanding and is crucial to knowing what systems are realistically capable of.
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Corrective Action
Published:Corrective action is the process, known as a corrective action plan (CAP), of taking the appropriate steps to identify the root cause of a problem and implementing a solution that corrects the root cause as to prevent its recurrence. The aim is to improve the processes in place within an organization so that problems do […]
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