Lean Strategies International
Menu

Glossary

Would you like to add a term to the community? Click Here!

Cycle Stock

3/31/2017

0 Comments

 
Cycle Stock
  Cycle stock is the average amount of inventory a business needs to meet customer demand.  The stock will generally deplete gradually as a business or organization receives orders from customers and replenish according to a cycle as suppliers provide the necessary orders. 
0 Comments

Anticipation Inventory

3/31/2017

0 Comments

 
Anticipation Inventory
  In both lean and six sigma it is important to understand all aspects of waste, including inventory.  One form of inventory is anticipation inventory.  Anticipation inventory is built according to "anticipated" or some future demand.  It is additional inventory that is created above and beyond the actual demand of customers according to forecasts, projections or trends.  Some examples of anticipation inventory might be:
  1. Promotions
  2. Vacations
  3. Shutdowns
  4. Strike

​Reference: Apics Dictionary 14'th edition.
0 Comments

Total Quality Management (TQM)

3/27/2017

0 Comments

 
Total Quality Management
  Total quality management (TQM) consists of organization-wide efforts to install and make permanent a climate in which an organization continuously improves its ability to deliver high-quality products and services to customers. While there is no widely agreed-upon approach, TQM efforts typically draw heavily on the previously developed tools and techniques of quality control.

Reference: Wikipedia - Total Quality Management
0 Comments

Vendor Managed Inventory (VMI)

3/20/2017

0 Comments

 
Vendor Managed Inventory
  Vendor Managed Inventory programs are a powerful way to leverage an organization's strengths and focus on your core competencies.  Vendor Managed Inventory places the responsibility of selected services and or items on a chosen supplier.  In most cases the supplier will handle all agreed upon aspects, Which would include:
  1. Tracking Inventory
  2. Ordering Inventory
  3. Logistics
  4. etc.
   **Discussion Opportunities: Answer in comments below.
  •  What benefits do you think a company would gain by pursuing vendor managed inventory?
  •  What risks might a company take by using a vendor managed inventory system?
0 Comments

Scatter Diagram

3/13/2017

0 Comments

 
Scatter Diagram
  The scatter diagram graphs pairs of numerical data, with one variable on each axis, to look for a relationship between them. If the variables are correlated, the points will fall along a line or curve. The better the correlation, the tighter the points will hug the line.

Reference: ASQ - Scatter Diagram
Learn more online!
0 Comments

Quality Control

3/13/2017

0 Comments

 
Quality Control
  Quality Control is a system of verification and maintenance that is used to meet a desired level of control/quality in an existing product, service or process.  Optimum control is often achieved through:
  1. Detailed planning
  2. Proper use of equipment, tools, materials and resources.
  3. Continued inspection.
  4. Integrity.
  5. Corrective action as needed.

Discussion Opportunity (Comment below please)
  • Why do you feel quality control is important to an organization?
  • What are some common trends in quality control today?
0 Comments

©STUDY Activity

3/6/2017

0 Comments

 
Stand in the Circle
Click here to enroll in the 8 forms of waste and complete the ©STUDY activity.
  The ©STUDY activity was inspired by Mr. Taiichi Ohno's famous stand in the circle training method.  Whether you're a consultant looking to add to your repertoire, an organization looking for a specific training method or an individual trying to develop their skill set in identifying waste, the ©STUDY activity is a perfect way to help employees:
  1. Learn to see waste.
  2. Discover opportunities to improve.
  3. Develop a kaizen mindset. 

  The ©STUDY Activity is included in the 8 Forms of Waste Course, The Introduction to Lean Course and The ©Gemba Methodology Course.
Enroll in the 8 forms of waste course today!
0 Comments

Kata

3/3/2017

0 Comments

 
Toyota Kata
  Kata is a martial arts reference which describes a system of individual or team training, exercises or techniques that are used to develop skill sets.  
0 Comments

    Glossary


    Subscribe below and receive lean, six sigma, operations, supply chain, logistics, distribution and business terms in your mailbox.

    CLICK HERE TO SUBSCRIBE

    Categories

    All
    #
    01. Add A Term
    3D
    3PL
    3P's
    5 Principles
    5S
    5 Why's
    6σ
    8 Wastes
    A
    B
    C
    D
    E
    F
    G
    H
    I
    J
    K
    L
    M
    N
    O
    P
    Q
    R
    S
    T
    U
    V
    VSM Shapes
    W
    X
    Y
    Z

    Archives

    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    May 2020
    April 2020
    March 2020
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    November 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    November 2015

Lean Strategies International LLC.
Follow Us on YouTube or Our Other Channels Below.
             ©2015-2021 Lean Strategies International LLC.  
  • Home Page
  • Services
    • Training >
      • Waste Training
      • Introduction to Lean
      • Lean Champions >
        • Lean Six Sigma White Belt
        • Lean Six Sigma Yellow Belt
      • Lean Tools You Can Use Series! >
        • The 5S System
        • The ©Gemba Methodology
        • The FISH Methodology
        • The CURE Methodology
        • Quick Changeover with REDUCE
        • Mistake Proofing and the Poka Yoke System
  • Lean Resources
    • Listen to The Gemba
    • Glossary
    • Lean and Six Sigma Quotes
    • Recommended Reading
    • Events
    • Masters of Lean and Six Sigma
    • Career /Jobs
  • Store
  • Home Page
  • Services
    • Training >
      • Waste Training
      • Introduction to Lean
      • Lean Champions >
        • Lean Six Sigma White Belt
        • Lean Six Sigma Yellow Belt
      • Lean Tools You Can Use Series! >
        • The 5S System
        • The ©Gemba Methodology
        • The FISH Methodology
        • The CURE Methodology
        • Quick Changeover with REDUCE
        • Mistake Proofing and the Poka Yoke System
  • Lean Resources
    • Listen to The Gemba
    • Glossary
    • Lean and Six Sigma Quotes
    • Recommended Reading
    • Events
    • Masters of Lean and Six Sigma
    • Career /Jobs
  • Store