
Business Metric
Published:Business metrics are metrics that are quantifiable and utilized to assess the performance or status of a business function.
Read more
Mean Time Between Failures (MTBF)
Published:Mean Time Between Failure is a basic metric that describes the frequency of problems in physical equipment or systems that disrupt production uptime.
Read more
Box-Cox Transformation
Published:The Box-Cox transformation can be used for converting the data to a normal distribution, which then allows the process capability to be easily determined.
Read more
Operation Cost Target (OCT)
Published:An operation cost target is the maximum expenditure allowed for all costs that are associated with a project, including overhead, materials, labor, outsourcing, and other costs.
Read more
How Motorola’s Continuous Improvement Efforts Led to Record Growth and Profit
Updated:While Motorola had been an industry leader for decades, by the 1970s, many of its products were seen as potentially unreliable by consumers. The company addressed this issue by embarking aggressively on an innovative program of continuous improvement that has come to be known as Six Sigma. How Continuous Improvement Changed Consumer Perception Of Motorola […]
Read more
Capability Maturity Model (CMM)
Published:An established framework for the ongoing improvement of software development and implementation practices.
Read more
Subject Matter
Published:Subject matter refers to all things related to your company’s products, services, or customers.
Read more
How Process Maturity Models Help Organizations Achieve Higher Levels of Performance
Updated:Process maturity is a concept used by the Lean Six Sigma (LSS) methodology to evaluate and optimize business processes.
Read more
How to Incorporate SS Process Reports into Your Quality Processes
Updated:The Six Sigma process report is a Minitab tool that calculates process capability and provides visuals of process performance.
Read more
How to Identify and Eliminate FISH Inventory in Your Business
Updated:First in Still Here (FISH) is a term that refers to very slow-moving inventory.
Read more
Design Verification, Production and Process Validation (DVP&PV)
Published:The process where planning, testing, and reporting occur in the design or prototype stage in the development of a product.
Read more
What is Return on Net Assets? A Complete Guide
Updated:RONA is one bottom-line measurement showing performance relative to strategic goals and objectives.
Read more
Confirmation is Key to Reducing Risk and Increasing Accuracy
Updated:Confirmation is a way to confirm that a process is working as expected. It can be used to validate or invalidate a hypothesis, test a process or product and test the process of testing.
Read more
Keep It Simple and Specific (KISS)
Updated:The Keep it Simple and Specific principal is based on the idea that most systems work at their best if they are kept simple as opposed to being made complicated.
Read more
Maintaining Quality Standards with Process Design Requirements
Updated:Businesses should have clear expectations from every procedure, activity and task that happens in their workplace. These expectations can be formalized as process design requirements, which describe the minimum acceptable results from a particular process. Overview: What are process design requirements? Active business managers don’t just let things unfold and develop on their own. Control […]
Read more
Understanding Covariates for Accurate Results
Updated:A covariate is a continuous variable that affects a process that is not the direct target of the study. Excluding known covariates from an investigation can lead to skewed or biased results, which can reduce the value of the analysis or even render it worthless for its intended purpose. Accounting for known covariates is crucial […]
Read more
The Power of Process Decision Program Charts in Risk Mitigation
Updated:An analytical management tool used to develop a basic outline of core processes and help the analysts consider what may go wrong with each step.
Read more
Understanding the Importance of Fits in Statistical Modeling
Updated:Fits are another term for fitted values. A fitted value is a prediction in a statistical model of a mean response value.
Read more
Planning Ahead: How to Predict and Prepare for Effects
Updated:For every action we take, there is an effect. Some actions may have only one or a few effects, while others can have a multitude. Having an understanding of the effects of actions, as well as what exactly causes them, helps us be mindful of which actions to take.
Read more
Understanding Datsu Chaku: Efficiency and Cost-Savings
Updated:Knowing when your methods are not the most efficient is an important realization to have. Being willing to improve upon your processes and make them more efficient can be a deciding factor on whether your business is going to survive and thrive. Manufacturers may begin with processes that utilize a more Datsu Chaku method, but should always be working towards a more Chaku Chaku-focused mode of operations.
Read more
Pugh Matrix vs. Analytical Hierarchy Process: What’s the Difference?
Updated:What is Pugh Matrix? When it comes to finding solutions and improvements in business processes, making a final decision can seem impossible. There are always multiple options for dealing with a situation or problems, which can be paralyzing for leadership. Pugh’s Controlled Convergence, also called the Pugh Matrix, is a numerical method for making tough […]
Read more
The Link Between Information Technology Infrastructure Libraries and Risk Management
Updated:A collection of educational and research material that outlines a systemic model for companies delivering IT services.
Read more