Problem solving methodology can be defined as MAGICS:
M – Measure
A – Analyze
G – Grasp
I – Improvize
C – Control
S – Sustain
Problem solving methodology can be defined as MAGICS:
M – Measure
A – Analyze
G – Grasp
I – Improvize
C – Control
S – Sustain
The day to day activities that are necessary to ensure the business is generating profit and serving its customer base.
A dashboard is a tool used for collecting and reporting information about vital customer requirements and/or a business’s performance for key customers. Dashboards provide a quick summary of process and/or product performance.
Data are factual information used as a basis for reasoning, discussion, or calculation; often this term refers to quantitative information. The singular of data is “datum.”
Forms or templates used to document each process in a Value Stream.
A Japanese term used to tell the traditional way of component loading on a machine. The term “Datsu” means Unloading, and the term “Chaku” means Loading. This terminology is used to compare with another Japanese word “Chaku-Chaku”.
Total number of days it would take to deplete finished goods inventory for a specific product line, if production were to cease entirely.
Improving the throughput rate of a process bottleneck.
Making bad parts, having scrap, wrong information, and/or having to rework items.
One of the 7 Wastes.
Degrees of freedom is central to estimating statistics of populations from samples of those populations. Another way of thinking about the meaning behind degrees of freedom is to imagine predictability.
As an example, imagine you have four numbers (a, b, c, and d) that must add up to a total of e. You are free to choose the first three numbers at random, but the fourth must be chosen so that it makes the total equal to e—thus your degree of freedom is 3.