SIX SIGMA ONE CANNOT MANAGE TOMORROW’S BUSINESS WITH YEATERDAY’S METHODS. INTRODUCTION: Six sigma is the result of culmination of quality concepts. However dramatic process improvement is the goal of six sigma. Six sigma is an innovative approach to continuous process improvement and a TQM methodology. DEFINITON OF SIX SIGMA Six sigma can be defined as “a business process that allows organizations to drastically improve their bottom line by designing and monitoring every day business activities
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This work OPS 571 Week 6 Individual Assignment Process Design for Riordan Manufacturing includes overview of the following parts: Abstract MRP for Manufacturing A New Process Design Supply Chain Production Forecast Implementation Plan Business - General Business Week One Individual Assignment: Design a Flowchart for a Process Week Two Individual Assignment: Apply the Learning Curve Theory Week Three
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PRODUCTION PROCESS Solid procedures and policies that are in place‚ which pertains to the business’ products or service‚ is an extremely valuable element to the marketing strategy. Customers want to understand more than just your product; they also want to focus on the shape and form your business will take. Crispy Eggplant Ala French Fries Recipe Customer will get their order within 5 minutes. Preparation Time: 5-10 minutes Instructions: 1. Cut the eggplant into fine strips of length nearly equal
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Six Sigma‚ An improvement Strategy……. Causes of Variation ● Random‚ chance‚ constant‚ common‚ unknown causes the “rhythm” of the process ● Variation inherent in a process ● Can be eliminated only through improvements in the system Assignable‚ special causes ● something has changed ● Variation due to identifiable factors ● Can be modified through operator or management action ● What are the sources of variation in a process? ● ● ● ● ● ● Machine variation Raw Material variation Different
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Change Management The company was founded by Dr. Riordan‚ a professor of chemistry he started Riordan plastics‚ Inc in 1991. Riordan Manufacturing is a global plastics‚ medical supplies‚ stents‚ automotive parts‚ appliance manufacture ’s parts‚ airplane parts‚ and beverage containers manufacturer. Riordan has 500 employees with a projected annual earnings of $46 million and a fortune of 1000 enterprises with revenues of $1 billion. Riordan Manufacturing has 4 worldwide locations Albany Georgia
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THE PRODUCTION PROCESS :THE BEHAVIOR OF PROFIT-MAXIMIZING FIRMS THE BEHAVIOR OF PROFIT-MAXIMIZING FIRMS Production : The process by which inputs are combined‚transformed‚and turned into outputs. Firm : An organization that comes into being when a person or group of people decides to produce a good or services to made a perceived demand Three decisions that all firms must make: 1. How much output to supply 2. How to produce that output 3. How much of each input to demand a) PROFITS AND ECONOMIC
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Overview Riordan Manufacturing has three operating entities…Georgia‚ Michigan and California…plus a joint venture in the People’s Republic of China. Basically‚ the operating entities each have their own Finance & Accounting Systems and they provide input that is consolidated at Corporate…San Jose. The basic components of each system are as follows: * General Ledger * Accounts Payable * Accounts Receivable * Order Entry * Procurement * Sales and Purchasing History
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Riordan Manufacturing FIN 370 February 2013 University of Phoenix Riordan Manufacturing Riordan Manufacturing is a global manufacturer with projected annual earnings of $46 million. The parent company Riordan Industries Incorporated is a Fortune 1000 enterprise. The company specializes in manufacturing plastic beverage containers‚ custom plastic parts‚ and plastic fan parts. Manufacturers from the automotive‚ aircraft‚ appliance‚ as well beverage makers and bottlers are major customers. The
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Six Sigma Six Sigma is a methodological approach by which errors in a company’s current processes and plans are identified and strategies to fix the same are formulated. It is fact-based technique‚ involving a lot of data handling‚ which provides scientific results for cost cutting and reduction in waste of resources. It is also a fat–based‚ data–driven philosophy of quality improvement that values defect deterrence over defect exposure. It drives customer satisfaction and bottom-line results
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Manag Res (2009) 2:44–55 DOI 10.1007/s12063-009-0020-8 Six Sigma failures: An escalation model Satya S. Chakravorty Received: 20 May 2009 / Revised: 13 August 2009 / Accepted: 17 August 2009 / Published online: 28 August 2009 # Springer Science + Business Media‚ LLC 2009 Abstract Despite the pervasiveness of Six Sigma programs‚ there is rising concern regarding the failure of many Six Sigma programs. One explanation for many Six Sigma failures could be escalation of commitment. Escalation
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