Globalization and digitalization have intensified competition in manufacturing. Some companies are using Bayesian hypothesis testing to optimize processes and make informed decisions. For example, a production manager could use it to improve the engine-cylinder-head-machining process.
Reliability analysis helps manufacturers predict and prevent product failures, improving overall quality and performance through systematic assessment and data-driven improvements.
In situations where resources are limited to gathering real data would be too expensive or impractical, Monte Carlo simulations can help forecast results and probabilities.
Testing potential improvements can get complicated when working with multiple suppliers in different steps of a process. Using a Monte Carlo Simulation can help illuminate the results you’d like to see.
Every organization can benefit from continuous improvement. In this blog, we’ll highlight 3 simple Lean tools for process improvement, why they’re important and how Minitab Engage can help you successfully leverage these tools across your organization. Let’s get started!
Continuous improvement is essential for business success. These five principles of CI will help you ensure that the improvements you’re striving for are constant, improve all areas of your organization, and deliver value to your customer.
