Benchmark Six Sigma is Accredited training Provider of Exemplar Global (previously RABQSA), a member of ASQ family. Exemplar Global provides global recognition for our Green Belt, Black Belt and Master Black Belt programs
Q1: What is Theory of Contraints (TOC)?
The Theory of Constraints is a management approach that emphasizes the importance of identifying the “system constraint” or bottleneck. It defines a set of tools that project teams can use to manage constraints, thereby increasing profits.
Q2: Who developed Theory of Constraints (TOC)?
The Theory of Constraints (TOC) was developed by Dr. Eliyahu Goldratt (Eli Goldratt) and was introduced in his landmark book “The Goal.”
Q3: What is the difference between Lean and Theory of Constraints (TOC)?
While, TOC focusses on contraints (the “weakest links” in the system), Lean thinking focuses on the notion of value. The objective of both continuos improvement methodologies is to increase profit. Lean is aimed at cost reduction by eliminating waste and steps that do not add value to the customer. TOC on the other hand attempts to move away from cost reduction by focussing on throughput improvement. Throughput is the rate at which the organization generates money through sales.
Q4: What is Drum Buffer Rope?
Drum Buffer Rope (DBR) is a scheduling and planning tool which considers that any system has at least one contraint. This constraint controls the output for the entire system. It’s the drum, setting the beat for delivery. Buffers of time protect the drum from disruption. The rope ensures that all other resources are timed and scheduled to support the drum.
Q5: What is throughput accounting?
Througtput accounting is accounting based on TOC principles. It differs from traditional accounting in that it views accumulating inventory as a bad behavior, and cutting costs as less important than selling goods. The primary focus is to maximize throughput while minimizing inventory and operating expenses.
This is one of the key learning which will definitely improve our connection with senior leaders. These kinds of topics shall narrow down the focus area and identify the potential projects/improvement in projects quickly. The MBB contents (BVA) are designed based on current leadership needs and expectations. I highly recommend taking this course and be connected with leadership team and achieve more.
I have found the session to be well organized and detailed.
An amazing and very relevant session for the Master Black Belt course
All concepts are very well explained by VK
The exercise-related to all concepts are well structured
Many thanks for bringing up the topic of Business value Analyst in the MBB course