Fundamentals of Business

There is eighth waste prevalent in many organisations

There is eighth waste prevalent in many organisations - unused employee ideas and opinions opinions.
Note: The deadly waste principle can be used to improve any process, it is pure commonsense.

√ Lean manufacturing
is a generic process management philosophy derived mostly from the Toyota Production System (TPS) but also from other sources. It is renowned for its focus on reduction of the original Toyota 'seven wastes' in order to improve overall customer value. Lean is often linked with Six Sigma Sigma. Six Sigma is a set of practices originally developed by Motorola to systematically improve processes by eliminating defects. A defect is defined as nonconformity of a product or service to its specifications.

While the particulars of the methodology were originally formulated by Bill Smith at Motorola in 1986, Six Sigma was heavily inspired by six preceding decades of quality improvement methodologies such as Quality Control, TQM, and Zero Defects. Like its predecessors, Six Sigma asserts the following:

√ Continuous efforts to reduce variation in process outputs is key to business success
√ Manufacturing and business processes can be measured, analyzed, improved and controlled
√ Succeeding at achieving sustained quality improvement requires commitment from the entire organization, particularly from top level management.

Agile manufacturing is a term applied to an organization that has created the processes, tools, and training to enable it to respond quickly to customer needs and market changes while still controlling.

Standardisation
In the context related to technologies and industries, is the process of establishing a technical standard among competing entities in a market, where this will bring benefits without hurting competition. It can also be viewed as a mechanism for optimising economic use of scarce resources such as forests, which are threatened by paper manufacture. As an example, all of Europe now uses 230 volt 50 Hz AC mains grids, the United Kingdom has officially accepted metres for business purposes but feet and inches are still widely used by the general public.

Standard
GATT definition: "Technical specifications contained in a document that lays characteristics of a product such as levels of quality, performance performance, safety safety, or dimens dimensions ions ions. Standards may include or deal exclusively with terminology, symbols symbols, testing and methods methods, packaging packaging, or labelling requirements as they apply to a product".