The RACI matrix is a matrix/tool that is used to track and increase accountability within a project. RACI stands for Responsible, Accountable, Consult and Informed. The model is used to organize and clarify projects by listing action items and the responsible individuals.
Regression analysis is a technique that can help us understand the relationship between two variables.
Have you ever had to return a product? Chances are you have. Reverse logistics is the supply chain concept that your returns follow. Rather than following a normal supply chain flow the reverse logistics supply chain focuses on improving the reverse flow. The focus of the reverse supply chain is to support customer returns, repair of damaged items, remake or remanufacturing of designs that might not meet the customers expectations and recycling materials. The reverse supply chain can in fact be designed in such a way that it operates at a profit, recovers costs and best of all creates loyal customers.
A root cause is the beginning or initiating cause of either a condition or a chain that leads to an outcome or effect. The root cause analysis is often referred to as a weed, if we don’t get to the root and remove the root, the weed will grow back again. A root cause analysis digs below the surface or the effect in order to discover the initial cause of the effect. Often times a root cause analysis will travel through levels of causation as it digs towards the root cause.
Example: Root Cause Analysis With 5 Why's.
A raw material is any purchased or supplied item that is in some way transformed via a manufacturing process. The raw material is generally converted into a component or a finished product.
What examples of raw materials can you think of? (Share your answers below)