Lean identifies 8 deadly types of wastes which can be remembered as acronym “DOWNTIME” which are first letter of each of these 8 waste:

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## Sampling and Types of Sampling

Sampling is a statistical technique that allows statistician, researchers to infer about a population based on results generated from Sample

Read More## DMAIC Six Sigma Methodology

DMAIC Six sigma is the process improvement methodology which stands for Define, Measure, Analyze, Improve and Control)

Read More## What is Statistics | Statistics Meaning

Statistics come from word “Statista” which is an Italian word which means any statement It came in to picture somewhere in 1660.

Read More## What is BCG Matrix in Strategic Management

BCG Matrix also known as Boston Consulting group’s matrix is also known as growth-share matrix is a planning tool that plots a company’s offerings in a four-square matrix (Stars, Cash Cows, Question

Read More## Network Diagram in Project Management

Network diagram usually shows a graphical association between different tasks and is used to develop a project schedule and determine the critical paths.

Read More## Confidence Interval

Confidence interval is the range of estimate we are making. Say for e.g we are 95 % confident that True mean will lie between 40 and 60

Read More## What is Value Add vs. Non-Value Add Activities ?

Value can simply be defined as something a customer is willing to pay. Lets under difference between Value Add vs Non Value Add.

Read More## RACI Matrix or RACI Chart

What is a RACI matrix? RACI matrix is a simple, effective way to define and document project roles and responsibilities.

Read More## How to Calculate Rolled Throughput Yield ?

Yield is percentage non-defective items of all the produced items. Rolled Throughput Yield is the product of each

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