Six sigma laws: the law of velocity
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Six sigma laws the law of velocity
There are a lot of different things that go into manufacturing to make sure that it becomes successful. Six sigma's laws of velocity help in that process.
Six sigma is the method used to make sure that manufacturing has less waste by using certain tools. There are six sigma laws. The six sigma laws are The Law of the Market, The Law of flexibility, The Law of Focus, The Law of Velocity, and The Law of Complexity and Cost. The Law of Velocity is also known as the little's law. The Law of Velocity is made up of a couple of things. It is figured out by taking the relating lead time, the work in process, and the average completion rate for a particular process and putting it into an equation. The reason why this is done is because the law of velocity believes that by reducing the work in progress while you maintain the sane average completion rate the lead time will also reduce which will in return makes you more money. The law of velocity is helpful when helping you determine how long the average time will be on completing projects.
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This site has multiple articles pertaining to the Six Sigma Laws as well as many other manufacturing topics.
The second thing you will want to know about six sigma laws the laws of velocity is how it will benefit you in your manufacturing process. The six sigma laws the law of velocity will help you to determine how many projects you can complete in a certain amount of time. For example if your plant fills 7 orders a day this would be considered your average completion rate you would then figure out how many orders there are to fill so say that you have 28 orders to filled. Using the Law of Velocity you would have to take the work in progress and divide it by the average completion rate which would give you 4 quotes a day.
The third thing you will want to know about six sigma laws the laws of velocity is that depending on how your want your manufacturing company to be ran will depend on how you will want to use the six sigma laws and the laws of velocity. You will want to make sure that you do some research and find out what different tips and tactics you can use to make sure that you use the six sigma laws the law of velocity to your full advantage. The better you understand the six sigma laws and the law of velocity the better you will be able to run your manufacturing company. This is why it is important that you know exactly what the six sigma laws and the law of velocity is so that you will know exactly how it is used and how it will help you the best.
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sigmastatguy says:
2 months ago
Great article. Also check out http://blog.sixsigmastatistics.info for more information on Little's Law.