Are you calculating your process quality with this wrong Cpk Formula?
I came across a common mistake of using Long Term Sigma to calculate Cpk. Just wanted to elaborate and clarify. Click here to read the full article
I came across a common mistake of using Long Term Sigma to calculate Cpk. Just wanted to elaborate and clarify. Click here to read the full article
The Origin of Operational Excellence - Part 20 When we descend from the philosophy to action - we need some guiding principles. That's what I discussed in this article - The Principles of Kaizen! Click here to read the full article
The Origin of Operational Excellence - Part 21 What makes a Kaizen Workshop successful and thrilling? Sharing my thoughts and learning on Kaizen Workshops - the practice of Rapid Improvement. Click here to read the full article
The Origin of Operational Excellence: Part 22 Sharing my thoughts and experiences on the Practice of Kaizen Problem Solving, reasons for its high-impact results and how this approach is different from that of Six Sigma. Click here to read the full article
Origin of Operational Excellence: Part 23 In this final article on Kaizen, I discuss the need for suggestion systems in an organisation, how to improve the flow of valid suggestions and who is responsible for a successful suggestion system. Click here to read the full article
What is Cash to Cash Cycle? Cash to cash cycle time is the time lapse between payment to suppliers and getting payment from the customers. Every business exists to provide a tangible or intangible product to the people in need and make money out of those provisions in the form of profit. A company has to invest money in the business. There are 2 types of investments - Asset Capital and Working Capital. When a company spends money on creating...
What is Lead Time? Lead time is the time required to complete the set of processes - from start to finish. There are 3 types of such measures in Business Process. Order LT The time required to complete the order - from order receipt to product/service delivery to the consumer. Processing LT The time required to convert the Raw Material into Finished Product (or Production LT) or The time required to convert input information into output information (Service Production LT)...
What is Takt Time? Takt time is the time given by the client to the manufacturer to pull out one piece of finished material from the plant. In other words, it is the time (frequency) at which the manufacturing plant to complete one unit of its product. We can also describe it as the demanded exit rate of a plant. How to Calculate Takt time? Calculate monthly average demand for the product/product family (we can calculate takt time for a...
What is Cycle Time? Cycle Time is the time required by an operation or by a machine to complete the processing of one component. How to calculate Cycle Time? Start your stopwatch when a completed component comes out of a machine (or a person completes working on a component). Stop your timer when the next (consecutive) piece comes out of the machine (or a person completes working on the next component) Repeat this for 5 or more times and calculate...