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German illustration of the quality management process model (closed loop system), including the PDCA circle (Photo credit: Wikipedia)
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| Six sigma (Photo credit: Wikipedia) |
BENCH MARKING
Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries.
"A technique that makes use of external comparisons to better evaluate current performance and identify possible actions for the future".
The systematic process of comparing an organization’s products, services and practices against those of competitor organizations or other industry leaders to determine what it is they do that allows them to achieve high levels of performance.
AMAZING PERFORMANCE LEVELS EXHIBITED BY DABBAWALAS is a classic example
Bench Marking Strategists:
Six Sigma is a business management strategy, originally developed by Motorola in 1986.Six Sigma became well known after Jack Welch made it a central focus of his business strategy at General Electric in 1995, and today it is widely used in many sectors of industry.
Lean Six Sigma is a synergized managerial concept of Lean and Six Sigma that results in the elimination of the seven kinds of wastes/muda (classified as Defects, Overproduction, Transportation, Waiting, Inventory, Motion and Over-Processing) and provision of goods and service at a rate of 3.4 defects per million opportunities (DPMO) .
Total quality management or TQM is an integrative philosophy of management for continuously improving the quality of products and processes.
TQM functions on the premise that the quality of products and processes is the responsibility of everyone who is involved with the creation or consumption of the products or services offered by an organization. In other words, TQM capitalizes on the involvement of management, workforce, suppliers, and even customers, in order to meet or exceed customer expectations.
Courtesy: Wikipedia
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