Basically, a balanced scorecard is a management system. We can say it is an approach of watching over at our organization that emphases on that big-image strategic goals. It facilitates at making a decision about the accurate things to be measured with the purpose of accomplishing those goals. Balanced scorecard is used for measuring [...]
As said by Henry Ford “Time waste differs from material waste in that there can be no salvage. The easiest of all wastes and the hardest to correct is the waste of time, because wasted time does not litter the floor like wasted material.” When we create an accurate, reliable and efficient system across [...]
Lean manufacturing is a hypothesis, the basic purpose of which is to minimize waste within the operating systems and to maximize productivity simultaneously. Lean manufacturing techniques are based on the Toyota Production System. Lean is appraised as a necessary element of a successful manufacturing business. Lean is being widely applied into many industries across [...]
The ABC inventory control system is an approach based on the categorization of items or products depending upon their usage rate. It uses Pareto principles in its application. It is applicable to those organizations that have multiple types of inventories. However, it is not always a good idea to keep the same level of [...]
What a Bottleneck Is Before understanding how to identify bottlenecks in a process you must have a clear understanding about what is actually meant by a bottleneck. Basically, bottlenecks are obstacles or hurdles on account of which a process slows down or gets delayed. Just as the neck of a physical bottle will restrict [...]
There is no denying in the fact that it is very valuable to possess a system to harmonize various organizational parts and keep them on the right track. ‘Hoshin Kanri’ is one such system which was developed by the Japanese in the 1960s and '70s. Hoshin Kanri which is also known as Hoshin Process [...]
Lead time is one of the crucial factors in today's fast-paced and development business environment. Lead time is basically the time required from the shipments to be ordered and until it is received. This time calculation is vital for attaining the correct reorder formula and maintenance of stock that is essential for inventory. The [...]
Basically 5S is a philosophy and an approach of organizing and managing the workplace and course of work with the commitment of increasing efficiency by reducing waste, enhancing flow and decreasing process irrationality. It uses a list of five Japanese words: Seiri (Sort) Seiton (Set in Order), Seiso (Shine), Seiketsu (Standardize), and Shitsuke (Sustain). [...]
The term Lean comes from manufacturing practices where it was initially used to improve effectiveness in production. It is now used across a lot of industries including software houses, manufacturing industries, business companies and even the construction industry. This method is for continuous improvement in work and management. It is a simple yet quick [...]
Lean Six Sigma Lean Six Sigma is a management approach for problem solving and process improvement by combining various tools of Six Sigma as well as Lean Manufacturing. It mainly involves procedures and methods of Six Sigma as the pillar of the system like DMAIC. Its objective is to propel focused improvements in production [...]
