6 Steps to Six Sigma

Written by Michael Nelson

Step 1

Getrepparttar proper level of Six Sigma expertise atrepparttar 149864 executive level ofrepparttar 149865 company. Ifrepparttar 149866 top leaders donít understandrepparttar 149867 advanced six sigma principles,repparttar 149868 company has no shot to attain total quality. This will probably require a hefty budget, entailingrepparttar 149869 hiring of several high-priced consultants for long periods of time. The consultants need to observe and gather data aboutrepparttar 149870 companies operations, and showrepparttar 149871 executives how to interpretrepparttar 149872 data.

Step 2

Getrepparttar 149873 staff involved. The ones inrepparttar 149874 trenches arerepparttar 149875 most knowledgeable aboutrepparttar 149876 day-to-day operations, andrepparttar 149877 day to dayís are where most costs are spent. This means getting people likerepparttar 149878 shop foreman,repparttar 149879 line supervisor, andrepparttar 149880 office manager involved inrepparttar 149881 training. Not only do they need to understandrepparttar 149882 thinking behind six sigma, but they also need to buy intorepparttar 149883 benefits. Since theyírerepparttar 149884 ones carrying outrepparttar 149885 orders and directingrepparttar 149886 vast majority of employees, ifrepparttar 149887 trench-level staff isnít aligned with management,repparttar 149888 company is sunk.

Step 3

Measurerepparttar 149889 data - quantifyrepparttar 149890 number of defects per unit. This applies not only to manufacturing, but to services as well. Itís easier to measure defects on an assembly line. You just dividerepparttar 149891 number of defective units by total output (thatís really simplified, but you getrepparttar 149892 point). Services are more vague.

This is why it is vital to get input from your customers. Ask them how things are going from their perspective. Is there anything they would like to see you improve on that would make their experience more favorable? Youíre looking to increase overall quality. Nobody knows your faults better than your customers.

Everything must be measured and quantified into actual numerical data. How long does it takerepparttar 149893 average customer order to ship? What percentage of customers is satisfied with your performance? What isrepparttar 149894 average employee break time? How long does it takerepparttar 149895 customer service department to answerrepparttar 149896 phone? Once enough data is gathered to answer questions like these,repparttar 149897 six sigma process andrepparttar 149898 path to quality improvement can begin.

Do You Speak Real Estate?

Written by Mark Walters

Anyone interested in real estate should be able to talkrepparttar talk. Here is a list of common phrases and words with a short explanation. Use it as a reference:

Adjustable Rate Mortgage (ARM). A type of mortgage loan whose interest rate changes periodically up or down, usually once or twice a year. They are tied to an interest rate index like 11th District Cost of Funds.

Annual Percentage Rate (APR). Everything financed in your mortgage loan package (interest, loan fees, points or other charges) expressed as a percentage ofrepparttar 149862 loan amount (usually slightly aboverepparttar 149863 actual interest rate alone).

Assumable Loan. A loan in whichrepparttar 149864 lender is willing to "transfer" fromrepparttar 149865 previous owner ofrepparttar 149866 home torepparttar 149867 new owner, sometimes atrepparttar 149868 same interest rate, sometimes at a new rate. An assumable loan can make your home more attractive to buyers when you want to sell. Oftenrepparttar 149869 new buyer has to qualify forrepparttar 149870 assumption just as he/she would for a new loan.

Closing Costs. Costsrepparttar 149871 buyer must pay atrepparttar 149872 time of closing in addition torepparttar 149873 down payment: including points, mortgage insurance premium, homeowners insurance, prepayments for property taxes, etc. Closing costs average 3% to 4% ofrepparttar 149874 loan amount.

Contingency. A condition put on an offer to buy a home; such asrepparttar 149875 prospective buyer making an offer contingent on his or her successful sale of a present home.

Conventional Mortgage. A type of mortgage not insured by eitherrepparttar 149876 Federal Housing Administration (FHA) orrepparttar 149877 Department of Veterans Affairs (VA), and thus usually requiring a 10% to 20% down payment.

Earnest Money. Funds submitted with an offer to show "good faith" to follow through withrepparttar 149878 purchase. Earnest money is placed byrepparttar 149879 buyer into an escrow/trust account until closing, when it becomes part ofrepparttar 149880 down payment or closing costs.

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