by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Six Sigma?Six Sigma (often abbreviated as 6) is a statistical-based quality-control program that emphasizes the reduction or elimination of defects in a product, a process, or a service through the application of certain process-improvement techniques and...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Accelerated Life Test (ALT)?Accelerated life testing is the process of running various tests on a product that exaggerates the loads that would normally be put on it. The goal to see which parameters of the product (stress, strain, temperatures, voltage,...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Scope Creep?Scope creep, also known as feature creep and requirement creep, describes unexpected changes and uncontrolled developments that occur in a project’s scope. More specifically, the requirements for carrying out a particular project grow or are...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Supply Chain? A supply supply chain, also known as a “Supply Network”, is a pattern of temporal and spatial processes carried out at facility nodes and over distribution links, which adds value for customers through the manufacturing and delivery...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Stock Keeping Unit (SKU)?A stock keeping unit (SKU) is an innovative system used in inventory management that allows easy tracking of inventory. SKU refers to an identification code always displayed as a barcode on products or services, these barcodes can...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Resources Processes Values Framework?The Resources Processes Values Framework is utilized to efficiently allocate employees to certain tasks or responsibilities. Three sets of factors have an effect on what an organization’s capabilities, its...
