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Process Decision Program Chart

What is a Process Decision Program Chart? Process Decision Program Charts are used for two purposes: to document the steps required to complete a process, and also as a tool for impact analysis. PDPC achieves this by systematically exploring a process to see what can...

Problem Solving Tools

What Are Problem-Solving Tools? The term “problem-solving tool” refers to strategies that can be used to identify the root cause of a particular problem and the best possible solutions. To address a problem at work, you must first define your...

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...
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