Wastes of Lean Manufacturing

8 Wastes of Lean Manufacturing

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

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DMAIC Six Sigma Methodology

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

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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.

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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

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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.

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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

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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.

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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.

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