The nomogram is a computational aid which consists of two or more scales which are drawn and arranged so that results of calculations may be found by the linear connection points. The graph usually contains three parallel scales graduated for different variables so that when a straight line connects each value of any two, that value can be read directly from the third at the point of intersection.
Also Called: Alignment Chart
Bias is a term frequently used in forecasting and six sigma. Bias is the term used when a consistent deviation occurs from the mean/average.
Strategy is defined as a plan or method chosen to bring about a desired future. Such as; the achievement of a goal, objective, countermeasure or solution to a problem. In other words strategy reveals how you will inspire or marshal all of your resources to come together in an efficient and effective manner while working towards a defined mission or goal.
Statistical process control is the application of statistical techniques to monitor and adjust a process so that the process can perform at its full potential.
A standard is a rule, example or guideline of how to perform an activity correctly. Standards should be the best known way of performing, building or producing a product, task, process or service. All standards should set clear expectations.
The core values of an organization are the principles, fundamental beliefs and ethical guideposts that serve as guidelines for the organizations behaviors.
Single minute exchange of die is a concept developed by Shigeo Shingo which seeks to perform all setup/changeover times under ten minutes (single minute).
Muda is one of the three origins of waste. The phrase muda means uselessness or wastefulness. There are two types of Muda that are non-value added activities.
Dependent demand is the demand that is directly related to or derived from the bill of materials structure for other items or end products which are independent demand.
The waste of motion or movement is any motion or movement by people and or machines that does not add or create value.
Subscribe below and receive lean, six sigma, operations, supply chain, logistics, distribution and business terms in your mailbox.