Step 1: Collect and Review Primary Information
February 12, 2025
Supply chain operations and network extend beyond domestic boundaries and global boundaries of all countries. A logistical exercise originates at the buyers end and involves multiple agencies including buyer, seller, 3PL freight forwarder, transporters at various juncture, shipping lines, airlines, various governmental agencies, customs departments at various locations and financial institutions like banks to complete […]
The Pugh Matrix is one of the most widely used methods of finding out the best solution once a number of alternate solutions have been generated. The success of the Pugh Matrix is in its simplicity. The tool is not very mathematically intensive and fairly simple to use. However, it has a record of coming […]
Project control module is used for organizing long term projects such as building a ship or power plant. The production environment resembles make to order situation where customer order driven purchasing, production, estimating, engineering, planning and control is done. This module also enables in setting up, analyzing and amending the budget for the project undertaken […]
Introduction Business intelligence is an important to ensure the following: Various decision-makers and analyst have a direct and un-interrupted access to data. The data been used across the organization should be non-disputable. Decision makers spend their time analyzing the data rather than collecting and formatting them. Decision makers are able to focus their energy in […]
President Trump introduced one of the biggest tax reforms that the United States has ever seen in Dec 2017. As soon as the plan declared that the taxes on the rich will be reduced by $1.5 trillion, a huge debate started about the morality and the perceived economic benefits of such a move. However, it […]
A six sigma team is meant to concentrate on the solutions and not on the problems. It is for this reason that once the problem has been identified, it must be quickly turned in to a goal statement that will guide the execution of the project.
The Problem statement helps us identify and zero down to the problem at a very narrow level. The Six Sigma problem gives structure to our thinking. The details and measurements presented in the problem must be noted. The ideal state of affairs must be thought about. Then the ideal state of affairs must be written down containing the same details and measurements as in the original goal statement. Here is a method to do so
There is an acronym for setting goals that work. It is called SMART goals. Research has shown that goals with SMART characteristics tend to succeed more than others. Here is what it means:
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