Cyclical Unemployment – Definition, Causes and Cure
In the previous two articles, we studied about frictional and structural unemployment. They can be considered to be the mild and moderate form of unemployment respectively that can be suffered by an economy. They are not usually the ones being referred to when common people talk about unemployment. The most dreaded form of unemployment is […]
Cyber Risk in Reinsurance
The global business environment has turned increasingly digital in the pasts few years. It is very common for businesses across the world to conduct most of their business online. This includes transacting with customers, employees, suppliers, and even the government. It is for this reason that the role of computers has drastically increased within the […]
Cutting Costs Strategically
The business environment today has become extremely competitive. Companies are not only facing competition from their local competitors but also from global ones. Different economic and geopolitical factors make global supply chains necessary. The problem with having global supply chains is that operations become broad and complex. It is much easier to manage operations located […]
Customs Department – An Introduction
International Trade is facilitated and controlled by Countries with the help of Foreign Policy, Export Import Regulations, Schedule and Tariff of Import and Export Duties as well as Trade Laws and Regulations. Customs Department is the Federal Government Agency that is invested with Authority to conduct Customs Valuation and collect Import as well as Export […]
Customs Clearance – Meaning, Scope and Documentation
Customs Departments are the government designated authority to implement the policies related to import and export, collect customs duties and facilitate movement of people, goods, and cargo into and out of the country. Area of Operations and Authority Customs departments have offices at all seaports, airports and border gateways that are essentially the exit and […]
Quality Management tools help organization collect and analyze data for employees to easily understand and interpret information.
Quality Management models require extensive planning and collecting relevant information about end-users. Customer feedbacks and expectations need to be carefully monitored and evaluated to deliver superior quality products.
Quality Management tools help employees identify the common problems which are occurring repeatedly and also their root causes. Quality Management tools play a crucial role in improving the quality of products and services.
With the help of Quality Management tools employees can easily collect the data as well as organize the collected data which would further help in analyzing the same and eventually come to concrete solutions for better quality products.
Quality Management tools make the data easy to understand and enable employees to identify processes to rectify defects and find solutions to specific problems.
Following are the quality management tools:
Check lists are nothing but a long list of identified problems which need to be addressed. Once you find a solution to a particular problem, tick it immediately. Employees refer to check list to understand whether the changes incorporated in the system have brought permanent improvement in the organization or not?
Pareto Chart often represented by both bars and a line graph identifies the most common causes of problems and the most frequently occurring defects. Pareto Chart records the reasons which lead to maximum customer complaints and eventually enables employees to formulate relevant strategies to rectify the most common defects.
The cause and effect diagram plays a crucial role in identifying the root cause of a particular problem and also potential factors which give rise to a common problem at the workplace.
In a scatter chart, data is represented as points, where each point denotes a value on the horizontal axis and vertical axis.
Scatter Diagram shows many points which show a relation between two variables.
Graphs help to identify whether processes and systems are as per the expected level or not and if not also record the level of deviation from the standard specifications.
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