After spending this summer attending several trade shows, marveling at equipment that can capture a 3-D point cloud of an entire Airbus A380 to within a few thousandths of an inch accuracy, or measure surface defects of a cylinder wall to within fractions of a micron, it’s easy to fall into the trap of regarding measurement equipment as the semi-autonomous guardians of precision. Push a button, and voilà--red light, yellow light, green light--scrap it, rework it, use it. Why, a monkey could do this job!
s a result of the ongoing credit crisis, senior managers in financial services firms are reassessing their risk management processes. This is leading to a greater emphasis on enterprise risk management (ERM) or firmwide risk management, according to “The Bigger Picture: Enterprise Risk Management in Financial Services Organisations,” an Economist Intelligence Unit survey and report sponsored by SAS Institute Inc.
In the world of nationwide retail, margins are tight, timing is essential, and inventory management will make or break a company’s success. Third-party logistics (3PL) providers work with major retailers and provide a broad range of fulfillment services. They make the complex process of delivering goods through the entire distribution process as efficient and cost-effective as possible.
This column is in honor of the first anniversary of my late father’s death. In his last days, Dad enjoyed watching golf, and I’d often join him. Watching the recent British Open, I thought I would apply some basic statistical principles to the final scores.
For example, 83 people made the cut, and the ANOVA of their individual round scores is shown in figure 1.
In autumn 2006, customer demand was exceeding production capacity at Singer Sewing Machine facilities. To meet the capacity constraints, Don Fletcher, CEO of Singer’s parent company, SVP Worldwide, headquartered in Hamilton, Bermuda, decided to launch lean Six Sigma into all facilities around the world.