Quality improvement techniques:
Six Sigma:
- The term “sigma” is used to designate the distribution or spread about the mean (average) of any process or procedure.
Two methodologies used in the Six Sigma projects:
- The Six Sigma methodology is widely used in many top corporations in the United State and around the world.
- It is normally defined as a set of practices that improve efficiency and eliminate defects.
DMAIC:
DMAIC refers to a data-driven quality strategy for improving processes and is an integral part of the company’s Six Sigma Quality Initiative.
DMAIC is an acronym for five interconnected phases:
(a) Define:
- Define the Customer, their Critical to Quality (CTQ) issues, and the Core Business Process involved.
(b) Measure:
- Measure the performance of the core business Process involved.
(c) Analyze:
- The data collected and process map to determine root causes of defects and opportunities for improvement.
(d) Improve:
- The target process by designing creative solutions to fix and prevent problems.
(e) Control:
- The improvements to keep the process on the new course.
DMADV:
This approach – Define, Measure, Analyze, Design, Verify - is especially useful when implementing new strategies and initiatives because of its basis in data, early identification of success and thorough analysis.
Six Benefits of Six Sigma Methodology:
(i) Reduce Operational Costs,
(ii) Improve Efficiency or Timeliness,
(iii) Improve Accuracy, Controls, and Policy Compliance,
(iv) Improve Customer Service,
(v) Improve Cash Flow,
(vi) Improve Regulatory Compliance,
Six Sigma Belt Level Rankings:
(i) White Belt:
Professionals are considered Six Sigma White Belts if they have not undergone a formal certification program or extended training.
(ii) Yellow Belt:
A Yellow Belt designation indicates an exposure to Six Sigma concepts that goes beyond the fundamentals provided for a White Belt.
(iii) Green Belt:
Earning a Green Belt certification requires professionals to attend a full course that introduces them to Six Sigma methods for developing and improving products, services and processes.
(iv) Black Belt:
After completing their Green Belt courses, leaders may take their skills to next level by pursuing Black Belt certification.
(v) Master Black Belt:
A seasoned Black Belt with strong leadership and problem-solving skills can go on to become a Master Black Belt in Six Sigma.
(vi) Champion:
A Champion is an upper-level manager who leads Six Sigma strategy and deployment.
INVENTORY CONTROL:
In inventory control our aim is to manage inventory in such a manner that day to day working run smoothly without any delay but at the minimum of cost.
Type of inventory costs:
(i) Purchase Cost:
It is the cost of purchasing inventory it depends upon quantity or bulk purchased.
Type of inventory costs:
(i) Purchase Cost:
It is the cost of purchasing inventory it depends upon quantity or bulk purchased.
(ii) Ordering Cost:
(iii) Set up cost:
(iv) Holding or Carrying Cost:
(v) Shortage or Stock out cost:
Types of inventory:
(i)Transit or Pipeline: Inventory can’t provide service while in transportation such inventory is called transit inventory.
(ii)Buffer or safety stock
It is the reserve stock kept throughout the year and it is held for protecting against the fluctuation in the demand rate and lead time.
Lead Time: It is the time gap between placing an order and inventory on-hand so that it can be used or consumed.
(iii)Seasonal Inventory: The demand of the inventory changes with seasons of the year.
(iv)Anticipation inventory:
The inventory is build-up to meet anticipated demand in the future like big selling forecast, govt. policy change, price hike, strike shut down etc.
(v) Decoupling inventory: It is extra inventory kept between two interdependent operations or workstations and it works as a buffer during breakdown and maintenance.
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