Tag: 4m
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SPC: Graphical Interpretation of Control Chart (Mean and Range)
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“It is the mark of a truly intelligent person to be moved by statistics.” — George Bernard Shaw Introduction Graphs are widely used tools in trading and investing to quickly see the past performance of the stock, the highs, the lows, trends, moving averages, trading volume, and much more. These graphs are the ‘footprint of…
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Fault Tree Analysis (FTA)
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“The only people who see the whole picture are the ones who step outside the frame.” ― Salman Rushdie” Introduction At work and in life, problems can crop up. Even if you don’t know how to fix the problem at first, you can think about how the problem happened in the first place. Then you can…
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Difference between Outsource Process and Bought-Out Parts (BOP)
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“The only difference between a rut and a grave are the dimensions” – Ellen Glasgow Introduction We procure electronic goods through online portals like Amazon. For our daily needs, we purchase groceries from the nearby market. For marriages, many specialized activities like makeup, decoration, food catering, photography etc. are outsourced. The economic prosperity of many developing…
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4M (Man, Machine, Material, Method) Changes
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“Slowness to change usually means fear of the new.” – Philip Crosby Introduction Change (permanent or temporary) is inevitable and is part & parcel of our lives. It may be the government’s economic policies, global warming, pandemics like COVID, emission norms transition from Euro IV to VI or LGBT rights. The list is endless. The…
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Disposition of Non-Conforming Products
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“I only feel angry when I see waste. When I see people throwing away things we could use” – Mother Teresa Introduction During the festival season, we prefer to clean our house more intensely. While doing so, we find many things which missed our attention but are useful, we also find unproductive things and need…