Found 822 Articles for Business

Setting goals and objectives are crucial to the success of any business. Without clearly defined goals, it will be impossible to improve a business. Goals and objectives give employees in organizations a clear understanding of the purpose they must fulfill and help them to maximize the capabilities of the QMS. As a result, the ISO quality management program initially introduced the Quality Management System Goals. According to ISO, quality objectives must be used in every critical area of an organization's operations. Even though many small businesses lack ISO accreditation, implementing a quality system aim or SMART Goals can help ... Read More

Six Sigma is a methodology consisting of tools and procedures used by many businesses to enhance their production processes, eliminate errors, and ensure the highest quality. A six sigma certification on your resume will demonstrate your dedication to improving your business acumen and analytical skills. It will also help the firm where you work to develop. Businesses worldwide see Six Sigma certification as proof that a person has the knowledge and competence to simplify processes, achieve corporate goals, and boost profitability and overall efficiency. Do you want to begin your six sigma journey? Scroll down to get the best ... Read More

Dr. Walter Shewhart of Bell Laboratories originated the idea of Statistical Process Control (SPC) in the 1920s. They were elaborated upon by Dr. W. Edwards Deming, who brought SPC to Japanese industry after WWII. Following the early success of Japanese enterprises, Statistical Process Control has now been adopted by organizations worldwide as a fundamental method for improving product quality by minimizing process variance. Dr. Shewhart discovered two sources of process variation− inherent in process variation that is stable over time, and assignable, or uncontrolled variation that is unstable over time − the outcome of particular events outside the system. ... Read More

Prospective employers may frequently search for Six Sigma or Lean Six Sigma certifications if they pursue a career in Quality Management in the manufacturing, pharmaceutical, healthcare, technology, or service industries. The primary distinction between Lean and Six Sigma is that Lean focuses on redesigning every business area rather than just the manufacturing process. Lean Six Sigma combines these two approaches to produce a potent waste−reduction tool. Lean and Six Sigma are divided into tracks, each with three levels of certification. Both begin at the Green Belt level and work up to the Black Belt and Master Black Belt levels. ... Read More

The SIPOC diagram dates back to the late 1980s as part of the total quality management (TQM) approach to continuous process improvement and the Six Sigma model. The system is applied at the definition phase of the DMAIC improvement cycle, when project goals, obstacles, scope, and periods are well established. SIPOC is also helpful in lean manufacturing and business process improvement efforts. What Exactly Is a SIPOC Model? SIPOC comprises suppliers, Inputs, Processes, Outputs, and Customers. SIPOC is a strategy for mapping and enhancing processes using a SIPOC diagram to describe inputs and outputs. The six Sigma process contains several ... Read More

Normality is a key notion in statistics that is employed in a variety of statistical procedures. The normality test determines whether or not data follows a normal distribution. A normal distribution is a symmetric bell−shaped curve around its mean. Because approaching normality occurs spontaneously in many physical, biological, and social measuring circumstances, the normal distribution is the most frequent statistical distribution. Many statistical studies demand data from regularly distributed populations. Minitab may be used to run a normality test. Minitab has statistical tools that make it simple to do statistical computations. Let's look at how to do a normalcy ... Read More

Six Sigma methodologies are well−known for their data−driven, logical approach to problem−solving. What truly separates them from other quality theories is their adaptation and usefulness outside manufacturing, where they were born. One of the key objectives of Lean Six Sigma is to reduce unnecessary phases and waste in a process or business model. The lean approach eliminates any process that offers no value to enhance efficiency, workflow, and profitability. Organizations create Control Plans to help management monitor measurements, document accomplishments, and make changes for continuous process improvement. A Control Plan is a method of documenting the functional parts of ... Read More

Today's interconnected, fast−paced commercial environment demands fierce competition from modern organizations. Because every competitive advantage counts in this environment, business professionals are constantly researching novel management methods. But the ideal solution might not come from a novel approach. Combining the tried−and−true Lean method with the Six Sigma approach may be the key to success as businesses optimize their processes for maximum efficiency and strive to uphold high−quality standards. What is Lean Six Sigma? Lean Six Sigma is a team−oriented management technique aiming to increase performance by removing waste and resource faults. It blends Six Sigma methodology and tools with the ... Read More

Toyota's manufacturing division developed the lean approach, but it soon became apparent that project managers could use lean concepts to decrease waste and inefficiency in any business. From healthcare to software development, lean concepts reduce costs while maintaining a competitive advantage. For many American businesses, being lean is the only way to compete globally against competitors from nations with substantially cheaper manufacturing costs. Lean has shown to be an efficient approach to managing teams in some of the most demanding sectors, including software development, manufacturing, and construction. The fact that the technique is simple to comprehend and quick to make ... Read More

Digital business models and strategies are constantly evolving. To stay ahead of the curve and ensure your business is as successful as possible, it's important to stay up to date on the latest trends. In the world of business, there are many different models. You'll need to decide which model will work best for your product or service before you can get started building out your digital ecosystem. What is a Digital Business? A digital business is a business that operates using digital technologies. This means that the company uses computers, networks, and other electronic tools to carry out its ... Read More