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Leptokurtic

What is Leptokurtic? The statistical distributions that have a kurtosis of greater than three are called leptokurtic. The shape can be described as a flatter or wider shape, with fatter tails. This results in a higher chance of extreme positive and negative events....

Heijunka

What is Heijunka? Heijunka is a Lean technique for reducing unevenness and minimizing the risk of overburdening in production processes. Heijunka is a Japanese term that literally means leveling. You can use it to react to changes in demand and maximize your capacity....

Certificate of Conformity (COC)

What is a Certificate of Conformity? The certificate of conformity (CoC) is issued by a third party authorized to do so, usually the manufacturer or an independent laboratory, and certifies that the product meets all the standards or specifications. A buyer can...

House of Quality

What is a House of Quality (HQ)? The QFD House of Quality (HOQ) tool is an analysis of customer voice. You can decide which product specifications are most important by analyzing multiple factors such as competitor research and customer needs. How to Use the House of...

Natural Variation

In the world of business, variability is a constant. Whether you’re a startup founder, a seasoned entrepreneur, or a corporate executive, you’re likely no stranger to the concept of “natural variation.” But what exactly is natural variation in...