According to Jeffery Liker’s book, The Toyota Way, it’s estimated that most business processes are 90% waste and 10% value-added work. Value-added activities in a process are considered those that ...

Developed during World War II to find solutions to warfare issues, the management science approach uses mathematical models to solve problems. Also known as a quantitative approach, the approach ...

Navigating the intricacies of compliance and risk management can seem overwhelming for businesses, especially those operating in heavily regulated industries. The rules are complex and the stakes are ...

The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to a ...

One piece flow processes are a type of optimization method that possess some significant advantages over batch processing, especially with respect to waste reduction, time reduction and increased ...