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Andon

What is Andon? Andon is an easy-to-use visual management system that allows operators and managers to quickly determine the status of the production line. The term “Andon” is derived from the Japanese word “paper lantern”, but the more accurate...

Payback Period

Corporate finance is an intricate domain revolving around capital budgeting, which is essential for making strategic financial decisions. Among the various methods used to evaluate investments, the payback (PB) period stands out due to its simplicity and...

Matrix Diagram

What is a Matrix Diagram? A matrix diagram can be used to display and analyze the relationships between multiple data sets. Matrix diagrams, also known as matrix charts or matrix graphs, provide an excellent visual representation of complex information which...

Feigenbaum, Armand V.

Dr. Armand V. Feigenbaum Dr. Armand Feigenbaum was the founder of the concept of “Total Quality Control”. He founded General Systems Company in 1968. In 2008, President Bush presented Dr. Feigenbaum with the National Medal of Technology and Innovation...

End-User

What is an End User? The End-user is a consumer who has a unique set of skills and knowledge. The term end-user is used in a literal sense to differentiate between the individual who uses and purchases the product or service, as well as the individuals who do not. End...