Step 1: Collect and Review Primary Information
February 12, 2025
To support the need to reduce cost and time to market, greater emphasis is needed to control shop floor activities. Well-organized manufacturing process, resulting elimination of bottleneck and waste, necessitates greater reliance upon flexible and user friendly production planning and control system. The planning engine of an ERP system, through closed loop MRP/MRP II capability, […]
During the election campaign in 2016, Donald Trump repeatedly stated that he planned to run the government like a business. He would use this as a unique selling point. All the previous presidents, as well as all of his competitors, were professionals like lawyers, doctors and so on. Donald Trump argues that since he was […]
Six Sigma is a business management strategy which aims at improving the quality of processes by minimizing and eventually removing the errors and variations. The concept of Six Sigma was introduced by Motorola in 1986, but was popularized by Jack Welch who incorporated the strategy in his business processes at General Electric. The concept of […]
We all need the support services that we often take for granted to be available to us 24/7 and whenever needed. Right from the telephone that we use to the internet connection, any downtime that this service faces is viewed unfavorably by us. But, given the uncertainties of the 21st century where a minor dislocation […]
The integration of cutting-edge technology with financial services has resulted in several innovative methods and tools which use sophisticated technology to serve potential clients better. One such innovation in financial services is the use of Robot Advisors or Automated Software also known as Bots to connect retail customers with the financial institutions. Worldwide, there has […]
A six sigma team is meant to concentrate on the solutions and not on the problems. It is for this reason that once the problem has been identified, it must be quickly turned in to a goal statement that will guide the execution of the project.
The Problem statement helps us identify and zero down to the problem at a very narrow level. The Six Sigma problem gives structure to our thinking. The details and measurements presented in the problem must be noted. The ideal state of affairs must be thought about. Then the ideal state of affairs must be written down containing the same details and measurements as in the original goal statement. Here is a method to do so
There is an acronym for setting goals that work. It is called SMART goals. Research has shown that goals with SMART characteristics tend to succeed more than others. Here is what it means:
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