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Vishwadeep Khatri

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Everything posted by Vishwadeep Khatri

  1. Q 268. 'The results are only as good as the sample' and hence it is imperative to select a good sample. What are the key considerations while sampling in order to get a good sample? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  2. Q 267. CONWIP (CONstant Work In Progress) - is an approach to implement pull system in a process. Describe CONWIP and explain advantages and disadvantages of using CONWIP against KANBAN with the help of examples Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  3. Q 266. "Purple Cow" is a term that is used in Marketing and Sales. In a world that is full of "good enough" Lean Six Sigma success stories, what would be key elements of a "Purple Cow" approach in the field of Business Excellence? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  4. Q 265. Planning Poker is a gamified technique for estimating, more commonly used in agile software development. What is Planning Poker and how is it used in software development? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  5. Q 264. What is the concept of Contradictions and Inventive Problem Solving in TRIZ? How can a contradiction be resolved without a compromise? Explain with examples from different domains. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  6. Q 263. Hammurabi Code - one of the first law ever written suggests to have one's own skin in the game thus entrusting a moral obligation for fair play. Highlight some of the innovative ways of implementing such moral obligation in an organization? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdays are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  7. Q 262. According to Benford's Law - "In any collection of statistics, a given statistic has roughly a 30% chance of starting with the digit 1". What are some of the business applications of this law? Hint: Refer the link - https://www.benchmarksixsigma.com/how-to-find-if-a-data-set-is-genuine/ Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  8. Q 261. While Industry 4.0 focuses on usage of new age technology in manufacturing, Service 4.0 focuses on doing the same to provide unparalleled customer experience in the service sector. What are the salient features of Service 4.0? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  9. Q 260. 'Analysis Paralysis' and 'Extinct by Instinct' are the opposite ends of decision making spectrum. Highlight the typical corporate behaviors associated with both types of decision making and why both of them should be avoided? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  10. Q 259. Even with detailed SOPs, workers are unable to follow the instructions and end up making errors. Usually the RCA obtained is - 'I forgot'. Could there be an issue in the way SOP is written? What is Instruction Creep and how can process owners avoid it while creating process SOPs? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  11. Q 258. It is said that the results of the U.S. presidential election in 2016 were influenced by the "filter bubble" phenomenon on user exposure on social media. What is a filter bubble? What are its potential applications in Business World? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  12. The winners for this question are Ram Rajagopalan and Shahikant Adlakha. All published answers are acceptable too. Please go through the response by Benchmark Expert Venugopal as well. Kindly note that your anwer may not show as published if it has plagiarism more than 5%. You can do a self check on plagiarism by pasting your response at https://smallseotools.com/plagiarism-checker/
  13. Q 257. Reporting bias leads to incorrect data analysis. What are the different types of reporting biases and how can an organization safeguard itself from reporting bias? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  14. Hi Bob, Thanks for your response. Here is my suggestion - Instead of looking for an end to end DMAIC case study in your areas of interest, you may look for examples in following areas - Use of DOE in power tools. Simulation driven optimization in Inventory Management Systems. Creativity and Innovation in Inventory Management. Using Theory of Constraints for inventory flow improvement. Using Lean for Inventory Management. Use of RPA/ AI in Inventory Management. We have built our Business Excellence Master Black Belt program which integrates (or links with) the above approaches.
  15. Q 256. How does Monte Carlo Simulation help in Risk Management? Provide a few examples to explain your views. Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  16. While all responses are valid and aceptable, well articulated 10 Do's and Don'ts have made Mohamed Asif the winner this time.
  17. Q 255. It takes just 2 minutes to effectively put your ideas through. What is an elevator pitch and how should one be prepared for it? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  18. Q 254. The Ansoff Matrix helps businesses grow beyond 'Business As Usual'. What are the elements considered in this matrix? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  19. Q 253. SERVQUAL model has been described as the most popular standardized questionnaire to measure service quality. What is this model and elaborate how its 5 dimensions relate to service industry? Note for website visitors - Two questions are asked every week on this platform. One on Tuesday and the other on Friday. All questions so far can be seen here - https://www.benchmarksixsigma.com/forum/lean-six-sigma-business-excellence-questions/ Please visit the forum home page at https://www.benchmarksixsigma.com/forum/ to respond to the latest question open till the next Tuesday/ Friday evening 5 PM as per Indian Standard Time. Questions launched on Tuesdaya are open till Friday and questions launched on Friday are open till Tuesday. The best answer is always shown at the top among responses and the author finds honorable mention in our Business Excellence dictionary at https://www.benchmarksixsigma.com/forum/business-excellence-dictionary-glossary/ along with the related term
  20. Hi Vivek, Unless something is proven against China, I do not think the world will look for alternatives of China. This was a thought process when the COVID 19 started. At this time, China seems ready and safer than other countries who have a long fight ahead. The scenario is changing fast. We need to wait and see.
  21. Hi Barath, One needs to carry out statistical analysis if it is needed. If you knew the solution and you implemented it, and it is working well, are you trying to relate it with DMAIC or Six Sigma? The idea behind learning Lean Six Sigma (or Business Excellence approaches) is to have the wisdom to understad what works in a given situation and how to modify our approach, if needed. Before you use a statistical tool, you should have an objective to use it. I am not sure if you have gone through a DMAIC based program. If not, please go through a training and you will learn about sequences that make business sense.
  22. Hi, The link you have provided does not relate to inventory management. It leads to "Understanding lifetimes and failure modes of defective washing machines and dishwashers". Please provide the correct link.
  23. You are right Amitabh. We should not be using the terms interchangeably. We are forecasting most of the time here (using time series). However, some discussions are about predictions. My questions are about judgements that people may make (prediction). Thanks for pointing that out.
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