Visual control refers to methods, devices, activities and or systems which are designed to assist in the management or control of our activities, processes, parts and or machines through visual and or other sensory means.
0 Comments
PDCA or plan-do-check-act is a four step method used in lean, quality improvements and other continuous improvement strategies.
Inventory Turnover is the number of times your inventory cycles or turns over in a year or other defined period. Inventory turnover can help an organization understand how efficiently their inventory is supporting sales. The inventory turnover number implies how often inventory was bought and sold throughout the year or other defined period. Put another way, inventory turnover is an indicator of how well a business is using their inventory. For example, how many dollars of sales from a cost perspective are being supported by each dollar of inventory.
|
GlossarySubscribe below and receive lean, six sigma, operations, supply chain, logistics, distribution and business terms in your mailbox.
CLICK HERE TO SUBSCRIBE Archives
November 2023
|