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Kaizen costing is a cost reduction system used a product's design has been completed and it is in production. [1] Business professor Yasuhiro Monden [ 2 ] defines kaizen costing as The maintenance of present cost levels for products currently being manufactured via systematic efforts to achieve the desired cost level.
A kaizen process. Some successful implementations use the approach known as kaizen (the translation of kai ('change') zen ('good') is 'improvement'). This method became famous from Imai's 1986 book Kaizen: The Key to Japan's Competitive Success. [7] Key features of kaizen include:
Wingman Project: a suicide intervention initiative that shows family and friends of distressed Airmen how to intervene to save a life, providing training in 54 U.S. states and territories. [ 9 ] dBird bird mortality model : tracks and predicts movements of pathogen-infected bird flocks using bird-aircraft-strike-hazard resources.
Every decision in the product development process affects cost: design is typically considered to account for 70–80% of the final cost of a project such as an engineering project [1] or the construction of a building. [2] In the public sector, cost reduction programs can be used where income is reduced or to reduce debt levels. [3]
Kaizen (Japanese: 改善, "improvement") is a concept referring to business activities that continuously improve all functions and involve all employees from the CEO to the assembly line workers. Kaizen also applies to processes, such as purchasing and logistics, that cross organizational boundaries into the supply chain. [1]
The principles of the Toyota Way are divided into the two broad categories of continuous improvement and respect for human resources. [7] [8] [9] The standards for constant improvement include directives to set up a long-term vision, to engage in a step-by-step approach to challenges, to search for the root causes of problems, and to engage in ongoing innovation.
Target costing is defined as "a disciplined process for determining and achieving a full-stream cost at which a proposed product with specified functionality, performance, and quality must be produced in order to generate the desired profitability at the product’s anticipated selling price over a specified period of time in the future."
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions.