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Value Stream Mapping: Value stream mapping is a method to check and improve the processes involved in delivering a product using flowcharts. The information and process flow from customer demand to delivery is examined by the VSM team. It is the main tool of lean manufacturing. Like other types of flowcharts, it uses a system … Read more
There are 6 steps in the process FMEA as per VDA & AIAG. These 6 steps provide a systematic approach to do failure mode and effect analysis. 1. Scope Definition & Project Planning : The purpose of the process scope definition is to decide what product/process to include/exclude for review in the PFMEA project. Below … Read more
Inventory Turnover: Inventory turnover is the rate at which a company converts its inventory into sales. It is the number of times a company makes the sale of its inventory in a period. Where inventory is the total of all goods in its stock which includes Raw materials, Bought out parts, Work in progress and … Read more