Backflush Definition
Traditional standard costing systems track costs as products pass from raw materials, to work in progress, to finished goods, and finally to […]
Category: Definitions
Beckhard’s Change Formula
Richard Beckhard’s formula for change proposes that the force of the dissatisfaction with the status quo combined with the forces of a […]
Andon Definition
Japanese term for a “Lamp” or signal. In ancient Japan paper lanterns were used as flashlights or a signaling devices. In […]
5S Definition
A 5 level standard for organizing the workplace. The 5 stages (from most disorganized to most organized) are: 1S = “Seiri” = […]
Kanban Calculation
“That’s not the formula I use” was the start of the debate. So looking at a few reference books and searching the […]
Little’s Law
The inventory in a process is related to the throughput rate and throughput time by the following equation: W.I.P. Inventory = Throughput […]
So, what’s so wrong with EOQ?
A day ago I had a debate/discussion with a fellow lean thinker on EOQ, or Economic Order Quantity. It seems some think […]