Pages

Thursday, June 7, 2012

Commerce Glossary

Focal Review: A yearly meeting with your manager where your performance is evaluated. The most common mistake made regarding interviews is a lack of investment of time by the manager is actually saying something constructive. Often seen as a vehicle for justifying raises/bonuses which overshadows the opportunity to convey actual information.

Deming Cycle: Alternate name for the Plan-Do-Check-Act cycle, a four-stage approach to problem-solving. It is also sometimes called the Shewhart cycle.

Kaizen:
A Japanese word meaning continuous improvement through constant striving to reach higher standards.

Taguchi, Genichi: Developed a set of practices known as Taguchi Methods, as they are known in the U.S., for improving quality while reducing costs. Taguchi Methods focus on the design of efficient experiments, and the increasing of signal to noise ratios. Dr. Taguchi also articulated the developed the quality loss function. Currently, he is executive director of the American Supplier Institute and director of the Japan Industrial Technology Institute.

Business Process Redesign or Reengineering: A management method which stresses the fundamental rethinking of processes, questioning all assumptions, in an effort to streamline organizations and to focus on adding value in core processes.