Learn what is Six Sigma methodology, tools, methods for improving business processes and reducing defects through a data-driven approach.
So far, Six Sigma has evolved for many times. Now it is not only a quality system, but also a new way of analyzing and developing business. More about the Advantages of Using Six Sigma Methodology The methodology is mainly used to: Strengthen the understanding of project details, such...
If the process has six Sigmas, three above and three below the mean, the defect rate is classified as "extremely low." The graph of the normal distribution below underscores the statistical assumptions of the Six Sigma model. The higher the standard deviation, the higher is the spread of ...
To understand the flexibility that Lean Six Sigma provides, it is important to be aware of the similarities and differences between the two disciplines. Both lean management and Six Sigma seek to eliminate waste and improvebusiness processes. An important difference, however, is that lean management...
While books have been written explaining the theory behind Six Sigma’s probability model,the real power of Six Sigma lies in theDMAIC process. DMAIC is a collection of quality improvement tools that are combined into a 5-step approach: Define -> Measure -> Analyze -> Improve -> Control. ...
PDCA (Plan, Do, Check, Act, sometimes seen as Plan, Do, Check, Adjust) is a repetitive four-stage model for continuous improvement inbusiness process management. The PDCA model is also known as the Deming circle, cycle or wheel; Shewhart cycle; control circle or cycle; or PDSA (Plan, ...
The formula is:Debt-to-Assets Ratio = Debt / Assets Debt-to-equity (D/E) ratio With the debt-to-equity ratio (D/E ratio), you can also see how much of a company is actually funded by its debt. The higher the ratio, the more debt. The formula is: D/E Ratio = Outstanding ...
“Six Sigma” refers to the capability of processes to produce output within specifications with high degree of precision. In particular, processes that operate with six sigma quality produce at defect levels below 3.4 defects per million opportunities (DPMO). Six Sigma ’ inherent goal is to ...
For quality professionals and people in manufacturing and operations, Six Sigma is a buzzword for effective quality management and rigorous application of defect prevention and reducing wastage in the organizational processes.However, in recent years, there has been movement towards a new model of ...
Lean Six Sigmais a team-focused managerial approach that seeks to improve performance by eliminating waste and defects while boosting the standardization of work. It combines Six Sigma methods and tools and the lean manufacturing/lean enterprisephilosophy, striving to reduce the waste of physical resou...