Optimus - The Operations Club, IMNU

"If you're not making mistakes, you're not taking risk, and that means you're not going anywhere. The key is to make mistakes faster than the competition, so you have more chances to learn and win." ⚔️🏆

Optimus gives you one more chance to take risk, make mistakes and win exciting prizes.🎖️

“KARYANEETI”, the Flagship Event of Club Optimus is here.
This is your chance to learn some new skills and polish the existing ones. 🤩

Hurry and get yourself registered in teams of 2-3 members! ✨
Link is attached in bio.

In lean manufacturing, waste is defined as anything that does not add value to a product. In the Manufacturing Industry, value is anything that a customer is willing to pay for. So, it can be said that waste is the cost incurred in a process that is not in the customer's best interest. Lean manufacturing aims to eliminate waste in the manufacturing process. Let's take a look at the factors that contribute to these wastes.

Waste in Lean Manufacturing is defined as anything that does not add value to a product. In the manufacturing industry, value is defined as anything that a customer is willing to pay for. As a result, waste is defined as any cost incurred in a process that is not beneficial to the customer. The goal of lean manufacturing is to eliminate waste from manufacturing processes. Let's take a look at waste and its causes.

Walmart Inc., headquartered in Bentonville, Arkansas, is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores and grocery stores throughout the United States. Sam Walton founded the company in 1962, and it was incorporated on October 31, 1969, under Delaware General Corporation Law. Here are some of the major points that have contributed to Walmart's success.

The tale of the retailer's road from large-box supremacy to collapse — barring some last-minute rescuing by an outsider — was long. And the individuals operating the retailer's shops experienced it firsthand. Over the decades, Toys R Us has created a passionate tribe of workers, tens of thousands strong, many of whom were taken off-guard by the company's demise, if not its bankruptcy.

In September 2017, it announced that it would be forced to liquidate its operations, potentially resulting in the closure of hundreds of stores.

Six Sigma tools are problem-solving tools that are used to support Six Sigma and other process improvement efforts. The Six Sigma expert uses both qualitative and quantitative techniques to improve processes. Although the tools themselves are not unique, it is how they are used and integrated into a system that makes them so. Some common statistical and graphical tools used in improvement projects are mentioned here.

In a country where private airlines like Kingfisher and Jet Airways have shut their business, and the national carrier, i.e., Air India, is continuously registering loss, it is amazing to witness the emergence of Indigo, that started just in 2006, to be the largest airline company in India. It primarily operates in India’s domestic air travel market as a low-cost carrier. The airline was founded in 2006 by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal, an American billionaire businessman. IndiGo has a total destination count of 87 with 63 domestic destinations and 24 International. It has a fleet of 284 aircrafts covering 1500 daily flights.

Kmart was a pioneer in the American discount retailing sector and one of the largest discount retailers in terms of sales for a long period. Despite having what seemed like an insurmountable advantage, the company's market share shrank, forcing it to declare bankruptcy in 2002. Kmart merged with BORDERS GROUP, a book and music retailer under the parent company name Sears. Borders group has a very effective supply chain network but after the merger, Kmart failed to adapt that and again filed for bankruptcy in 2018.

The problem-solving tools used to support Six Sigma and other process improvement efforts are referred to as Six Sigma tools. To improve processes, the Six Sigma expert employs both qualitative and quantitative techniques. Although the tools themselves are not unique, how they are used and integrated into a system is. The following are some examples of statistical and graphical tools commonly used in improvement projects.