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Rolled Throughput Yield
Rolled throughput yield (RTY) in production economics is the probability that a process with more than one step will produce a defect free unit. It is the product of yields for each process step of the entire process. For any process, it is ideal for that process to produce its product without defects and without rework. Rolled throughput yield quantifies the cumulative effects of inefficiencies found throughout the process. Rolled throughput yield and rolled throughput yield loss (RTYL) are often used in Six Sigma. See also *Defects per million opportunities *Business process *Process capability * Total quality management *Total productive maintenance Total Productive Maintenance (TPM) started as a method of physical asset management focused on maintaining and improving manufacturing machinery, in order to reduce the operating cost Operating costs or operational costs, are the expenses which a ... References {{Reflist Business terms Production economics Six Sigma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Economics
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental production factors. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors as they are byproducts of land, labour and capital. Delving further, primary factor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defects Per Million Opportunities
In process improvement efforts, defects per million opportunities or DPMO (or nonconformities per million opportunities (NPMO)) is a measure of process performance. It is defined as :DPMO = \frac A defect can be defined as a nonconformance of a quality characteristic (e.g. strength, width, response time) to its specification. DPMO is stated in opportunities per million units for convenience: Processes that are considered highly capable (e.g., processes of Six Sigma quality) are those that experience fewer than 3.4 defects per million opportunities (or services provided). Note that DPMO differs from reporting defective parts per million (PPM) in that it comprehends the possibility that a unit under inspection may be found to have multiple defects of the same type or may have multiple types of defects. Identifying specific opportunities for defects (and therefore how to count and categorize defects) is an art, but generally organizations consider the following when defining the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process Capability
The process capability is a measurable property of a process to the specification, expressed as a process capability index (e.g., Cpk or Cpm) or as a process performance index (e.g., Ppk or Ppm). The output of this measurement is often illustrated by a histogram and calculations that predict how many parts will be produced out of specification (OOS). Two parts of process capability are: 1) measure the variability of the output of a process, and 2) compare that variability with a proposed specification or product tolerance. Capabilities The input of a process usually has at least one or more measurable characteristics that are used to specify outputs. These can be analyzed statistically; where the output data shows a normal distribution the process can be described by the process mean (average) and the standard deviation. A process needs to be established with appropriate process controls in place. A control chart analysis is used to determine whether the process is "in stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Productive Maintenance
Total Productive Maintenance (TPM) started as a method of physical asset management focused on maintaining and improving manufacturing machinery, in order to reduce the operating cost Operating costs or operational costs, are the expenses which are related to the operation of a business, or to the operation of a device, component, piece of equipment or facility. They are the cost of resources used by an organization just to main ... to an organization. After the PM award was created and awarded to Nippon Denso in 1971, the JIPM (Japanese Institute of Plant Maintenance), expanded it to include 8 pillars of TPM that required involvement from all areas of manufacturing in the concepts of lean Manufacturing. TPM is designed to disseminate the responsibility for maintenance and machine performance, improving employee engagement and teamwork within management, engineering, maintenance, and operations. There are eight types of pillars TPM: # focused Improvements # JH Pillar (Autonomous M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Economics
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental production factors. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors as they are byproducts of land, labour and capital. Delving further, primary factor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
