A technique used to identify the few factors that have the greatest impact on an outcome, result, or on measures of quality, satisfaction or performance. Separating these "vital few" from the "trivial many" is generally known as the "80/20" rule. Applying this rule to sources of problems would mean that, on average, 80 percent o...
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Key Performance Indicators (KPI) are a set of quantifiable measures that a company or industry uses to gauge and compare performance in terms of meeting their strategic and operational goals.
A Pareto diagram is a vertical bar chart that identifies the critical few from the uncritical many: A histogram, ordered by frequency of occurrence, that shows how many results were generated by each identified cause.
A work breakdown structure (WBS) is a "deliverable oriented hierarchical decomposition of the work to be executed by the project team" (PMBOK). The WBS visually defines the scope into manageable chunks that a project team can understand, as each level of the WBS provides further definition and detail.
Kanban is a task management technique that sorts work to be completed according to progressive categories. It is suitable for tasks that can be broken down into small deliverables. Tasks managed by the Kanban technique are visualized on a Kanban Board. Example categories are:
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Organizational learning is the process by which managers seek to improve organization members’ capacity to understand and learn the organization’s internal and external environments. In turn, members will perform to their capacity in carrying out their duties and progressively learn when they met with difficulties; hence they can make decisions and achieved objectives that continuously raise organizational effectiveness.
This hybrid estimation technique of a project’s costs and duration begins with a top-down approach and then progressively improves the estimates for the project phases as they are implemented. Some projects by their nature cannot be thoroughly defined because of the uncertainty of product designs and configurations due to market volatility of supply and demand.
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CPFR is a set of business processes, backed up by information technology software and network infrastructure, in which supply chain partners in both internal and external environments agree to work in tandem to meet mutual business objectives. They cultivate a mutual understanding of each other, hence able to develop jointed Sales and Operations Plans (S&OP), and collaborate comprehensively to generate and update sales forecasts and replenishment plans in near real-time.