An expenditure that extends the useful life of an asset, or increases the functions that it performs, beyond the life or function of the asset at the time it was acquired. An improvement is capitalized
Japanese management methodology that strives for continually improving the manufacturing process by building a team atmosphere, increasing employee satisfaction, and reviewing and improving everyday procedures. Continuous improvement seeks to reduce waste, standardize work, and employ effective quality control procedures
02-19-2013 | 06:00 PM - 08:00 PM ET
A set of improvement initiatives focused on an area of an organization with the goal of obtaining radical process improvement
Keller Award for Most Improvement. 6th Place in Warner Division
Radical improvement or transformation of an activity to reduce or eliminate waste (or “muda”)
Budgeting that incorporates the expectation of continuous improvement into the planning process, including establishment of budgetary estimates
A management concept that seeks continuous incremental improvement of an activity to create more value with less waste
A change management technique that generally involves the radical redesign of organizational processes to achieve dramatic improvements in critical measures of performance
Used to stress the importance of lean improvement being done at the place where the work is done using detailed visual observation
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