Organization goal
Important to the customer and the organization reputation but not the ultimate goal
What is quality?
Amount of money invested in the system to produce the items that an organization intends to sell
What is INVENTORY?
Go to bed and waking up crying:: trust the process!!!"
What is sleep deprivation?
If maintained too high, it capture cash and create little value
What is INVENTORY?
Referred as the ratio of the useful work performed by a process to the total inputs used. This metrics could lead to working capital increase and could cause an organization's demise
What is focusing solely on Efficiencies?
Often the focus of organization in a mature market to keep their relevance but not the ultimate goal
What are market shares?
Improving efficiency at the individual work centre that is limiting the whole process output
What is bottleneck elimination?
Explaining that I will not play in the NBA
What is explaining to deaf grandma that I LOVE my MBA team?
Measure used to determine the number of units that can be produced at minimum average cost in a given batch or production run
What is the economic batch quantity?
Management methodology giving very little latitude to employees so they must come to you for feedback and guidance
What is micromanagement?
Often mistaken as the ultimate organization goal
What is cost reduction?
Integrated business execution to deliver price, quality, and service unmatched by competitors
What is Operational Excellence?
Performing a moving average using Excel spreadsheet, analyze it and finally settle to buy Bitcoin
What is the First thing to do if you want to analyze stock?
Using speed, rate for each step of the process to minimize statistical fluctuation within
What is balancing production flow?
If your scout group is too slow to make it to camp
What is yelling at the slowest kid to speed it up?
This is the real goal
What is :"Making money by INCREASING NET PROFIT, while simultaneously INCREASE RETURN ON INVESTMENT and INCREASING CASH FLOW"?
Resource whose CAPACITY is equal or less than the DEMAND placed upon it.
What is a bottleneck resource?
The question the all MBA love to answer
What is the difference between a Leader and a Manager?
Focusing on the voice of customers and deliver without building huge working capital.
What is harmonizing Production with customer demand?
Long version of CPA
What is a Chartered Professional Accountant?
Improving rate at which the system generate money from sales... more important than efficiency!
What is improving THROUGHPUT?
Actions that bring a company closer to its goal
What is a productive action?
Best thing that can happen to you, it is so beautiful it almost make you tear up
What is opening a case with only 4 pages?
Amount of labor invested in inventory
What is the an OPERATIONAL EXPENSE?
Who is Liane Allen?