Business

Differentiating Between Lean Manufacturing And Six Sigma

Image by Tumisu from Pixabay  In the business world, of late, you can witness a debate going on – Lean manufacturing Vs Six Sigma – which one is the best to opt to achieve your business goals. Many people have strong opinions about both methods. However, both methods share the same goal that is cutting costs and eliminating waste. But, they use different approaches to achieve this common goal. Lean manufacturing is a systematic and well-calculated way of eliminating waste and creating flow in the production process through the adoption of lean principles. On the other hand, Six-Sigma is a set of techniques that focuses on reducing the rate of errors. What is Lean Manufacturing? Lean manufacturing technology is not new. This technology was first introduced by Henry Ford. He wanted to keep the production standards very high so that each step falls naturally into the next one, thereby reducing the waste gradually. Then another automobile giant Toyota implemented this process and founded the Toyota Production System (TPS), which became one of the most efficient systems in the world. The biggest difference between Lean and Six Sigma is that they analyze the cause of waste differently.  Lean demonstrates seven types of wastes that…

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Business, Technology

AI Integration, Amazingly the Best For Your Supply Chain

Image by Tumisu from Pixabay Have you ever given a thought to applying machine learning and other types of AI to the terabytes of transactional and sensor data being collected from the supply chain? The time is here and the amazing result you get will definitely be a much more autonomous and effective form of supply chain analytics, supply chain management, and, ultimately, an overwhelming as well as highly responsive supply chain. David Simchi-Levi, a professor of engineering systems at MIT says, “In fact, there is a lot of interest in using AI and machine learning to enhance supply chain analytics.” Where your concentration should be in the supply chain is the opportunity to be able to integrate predictive and prescriptive analytics, which in essence, translates to blending AI and optimizing technologies. The competition in the global market has become very stiff and you need to take every worthwhile opportunity that comes your way in order to continue to be relevant. The two areas you can efficiently apply AI in your supply chain are, to enable predictive analytics to understand behaviors and for prescriptive analytics, thereby, allowing optimization technologies to take input from machine learning and try to help your brand to make…

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Business

The Possible Fallouts From The U.S. And China’s Trade War

Just last June, there was a ray of hope at the G-20 meeting in Osaka, Japan with the announcement by the leaders of China and the United States that their trade war was thawing out. According to the U.S. President Donald Trump, the two countries had set negotiations “back on track.”  This led to the U.S jettisoning any idea of new tariffs on Chinese goods and also suspending the embargo placed on U.S. companies from trading with Huawei, the Chinese IT giant that the U.S has blacklisted. Nations across the globe heaved a sigh of relief, markets picked up, and the media was abuzz with “cease-fire” reports. But alas, it turned out to be a “false flag,” just like many diplomatic on and off between Beijing and Washington. The outcome of the “jigsaw puzzle” was to have the Trump administration increased tariffs on another $125 billion worth of Chinese imports in September.  It’s a war and there is no going back, China retaliated by announcing further tariffs on $75 billion worth of U.S. goods. Nobody knows how the U.S. will respond to this but there are feelers that further tariffs will be issued in December, in an attempt to possibly…

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Business

Outstanding 2020 Entrepreneur: 5 Things You Must Focus On

The Q4 of any year takes its toll on any entrepreneur for two main reasons. The first is that you have to take stock, find out all the areas you’ve underperformed, broken even, or made returns on your investments. The second is that you start preparing for Q1 of the next year in order not to be caught with your pants down. Funding is one of the major problems an entrepreneur has to contend with and according to a U.S. Bank study, an amazing 82% of businesses fail because of cash flow problems. To become an outstanding entrepreneur in 2020, you need to harness all your positive points and focus strongly on the following five things. 1. Cybersecurity About the most important thing, you should focus on as an entrepreneur in 2020, is the issue of cybersecurity. Cybercriminals are daily upping their heinous acts and don’t spare anybody, they even prefer to target businesses that will give them the least resistance. Since any attack that is directed at you may cripple your business as well as hurt your customers, vendors, contractors, and other third parties, you must not take this threat with a pinch of salt. In focusing on cybersecurity,…

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Business, Technology

How to Best Safeguard Your Customers’ Data From Cyberattackers

Your customer is the best asset you have and should be roundly protected from any form of harm. With the unceasing onslaught by cyberattackers on governments, businesses, and individuals, the least you can do is to go to any length to ensure that your customers’ data are safeguarded. A quick recap of some very ugly incidents in 2019, will bring to the front-burner why safeguarding your customers’ data must be your uppermost priority. In May, a surveillance contractor for US Customs and Border Protection suffered a breach, and hackers stole photos of travelers and license plates related to about 100,000 people.  A destructive strain of ransomware called LockerGoga has specifically been victimizing industrial and manufac­turing firms. As if that is not enough, in March, a research report from the threat intelligence firm Kaspersky, says that computer maker Asus disclosed a supply chain attack sometime in the second half of 2018 that had compromised the company’s Live Update tool to push malware to almost 1 million customers. We can go on and on as this is just the tip of the iceberg. The important thing to note here is that it’s now more necessary than ever to put serious measures in…

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Business

3 Best Ways You Can Use to Hire Content Writers

Writing is an inborn trait that comes naturally in the form of scribbling. However, the world has witnessed many incredible writers from different genera such as William Shakespeare, J.K Rowling, and Jeff Goins — a big name in content writing — who have used writing as a communication medium.  Clearly, there are many types of writings. In this internet era where everything has gone online, however, content writing has gained a huge attention. Today, people write online and instantly get noticed.  To this end, we have a mushroom-growth of content writers everywhere on the net. Some of these writers you will get to see are real quality writers, on the other hand, there is a brood of content writers you must avoid as plague. If you run a company and really want to hire some quality writers, it may prove to be quite a challenging task, you need to embark on thorough scrutiny. But you don’t need to kill yourself over this, there are some genuine ways for hiring content writers.  Some of the trusted ways are: Search in-house first This is the most common tip and you would have heard it many times, yet overlooked it all the time.…

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