Fundamentals
What people are willing to pay for something
Producing defects, transportation, inventory, overproduction, time wasting, processing, motion
What are Toyota's seven wastes?
Management that focuses the organization on knowing the needs and wants of customers
What is TQM?
A structured cycle of improvement popularized by W. Edward Deming
What is PDCA?
Sort, Set in Order, Shine, Standardize and Sustain
What are the 5s?
Production capacity is less than the demand placed on it
What is a bottleneck?
A 2-5 day event focused on incremental improvement
What is a Kaizen Blitz/Project?
The lot size that most economically satisfies for a given period of time
What is the Economic Order Quantity?
Quality management tool to produce things better, faster, cheaper and be more agile
What is Continuous Improvement?
The place where the work is done and improvements are made
What is the Gemba?
Total Setup + Total Carrying Cost
What is Total Cost?
Methodology to analyze and reduce the change over time for dies
What is SMED (single minute exchange of dies)?