Check Sheet – A Basic Six Sigma Tool
February 12, 2025
The Union Budget is a big financial event in India. Each year, the finance minister of the nation sets the national priorities and also the plan to fund them. The 2018 budget came in as a shocker for most people in India. The middle class was hoping for a significant tax reduction. However, there was […]
Introduction Knowledge is very important for survival of organization. Historically, employees have gathered knowledge through trial-and-error method or by working as an apprentice under a tenured knowledgeable employee. Management guru Peter Drucker forwarded a concept that knowledge is as valuable as a company’s various asset like plant, machinery, etc. Importance of Knowledge Management Knowledge provides […]
The Persistence of the Digital Divide The advent of the internet revolution raised hopes that there would be an egalitarian society where free sharing of information and knowledge would eliminate the uncertainties and the power of gatekeepers of knowledge by making it free and easy to search and find. Further, there were hopes that the […]
Inventory procurement, storage and management is associated with huge costs associated with each these functions. Inventory costs are basically categorized into three headings: Ordering Cost Carrying Cost Shortage or stock out Cost & Cost of Replenishment Cost of Loss, pilferage, shrinkage and obsolescence etc. Cost of Logistics Sales Discounts, Volume discounts and other related costs. […]
The Need to Encourage Foreign Investment The previous articles have discussed how international businesses need supporting ecosystems and business friendly policies if they are to succeed in emerging markets. Of particular importance is the role of governments in deciding whether they would allow international businesses to setup their operations and encourage them to grow and […]
The SIPOC Chart, being one of the fundamental documents of any process improvement project must be developed in such a manner that it is easy to understand. It must also be coherent with the logic inbuilt in the process.
There is a method which has been described to ensure the proper development of the SIPOC Chart. The process is as follows:
SIPOC provides immense insight into the process. It is said that insight is the basis of all innovaton. Hence SIPOC can be said to be the cause of innovation.
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