Lean Six Sigma: Tools for Quality, Productivity, Efficiency, Quizzes of Introduction to Business Management

Download Lean Six Sigma: Tools for Quality, Productivity, Efficiency and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Lean Tools and Techniques DEFINITION 1 Standardized work and remove waste and non-value added activities TERM 2 Six Sigma DEFINITION 2 is about results; enhancing profitability and reducing costs through improved quality, productivity, and efficiency. Emphasizes the reduction of variation, a focus on doing the right things right, combing a customer knowledge with core process improvement efforts, and subsistitue improvement in company sales and revenue growth. TERM 3 3 Key performance measures related to Lean DEFINITION 3 1. Cycle time: how often a product is completed by a process of the time it takes an operator to complete all steps in the work cycle before repeating them2. Value-creation time: the part of the cycle time during which the work activities actually transform the product in a way the customer is willing to pay for3. Lead time: the time it takes for one piece to move all the way through a process from start to finish. TERM 4 Process Capability (Cp) DEFINITION 4 Cp= USL-LSL/6sigmaCp=1 -----> the process is considered to be operating a 3 sigmaCp=2 -----> the process is considered to operating at 6 sigma6 sigma Cp=2 provides adequate protection against the possibilities of a process mean shift or an increase in variation. TERM 5 Lean and Six Sigma Techniques work together so that each step is: (5 aspects) DEFINITION 5 1. Valuable2. Capable 3. Available 4. Adequate