Current Event 1
Six Sigma is a business strategy and systematic methodology, use of which leads to breakthrough in profitability through quantum gains in product, service quality, customers satisfaction and productivity. Moreover, one of the keys to the success of the six-sigma program is the step by step approach or road map using define, measure, analyze methodology. The definition phase entails the definition of the problem and the definition of critical quality characteristics which are most important to customers. For instance, in the measure phase organizations must select the most appropriate output quality characteristic to be improved and establish what is unacceptable performance or a defect for such characteristics.
In addition, when the measure phase is done, gather preliminary data to evaluate current process performance and capability. In the analyze phase, we need to analyses the root causes of defects or input variables. In the improvement phase, firms need to reduce the defect rate, or number of defects using simple but powerful statistical tools techniques. Last, in the control phase firms need to sustain the improvement that has been achieved from the improvement phase. Finally, Six Sigma seeks to improve business processes by removing the causes of errors that lead to defects in a product or service.
Current Event 2
Apple v Samsung
Over the past 8 years Apple and Samsung have been in trial to determine if Samsung copied Apple's iPhone too much. Apple is claiming that Samsung violated their copyrights and are seeking damages. Last week, a judge ordered another trial to determine if $399 million is a payment both sides can agree on. The original award to Apple was $1 billion and in the past 8 years has come down to the $399 million mentioned before. Are there other examples out there in the technology world that you can think of that compare to this? Do you think Samsung is responsible for damages in the first place? Is there a way to prevent a similar situation from happening in the future?
Current Event 3
Order Fulfillment as a competitive Advantage
Amazon is one of the leading company when it comes to the fulfillment process and customer services. Amazon has raised the standard by offering next day to same delivery for their customers. In order for a retailer to keep that competitive edge, they must improve their fulfillment process cycle. Although Amazon is leading the way some retailer have to discover ways to enhance the fulfillment process by increasing their customer base, processing orders at a lower cost and reducing inventory. Companies are rethinking their network, transportation and making huge changes to the distribution centers in order to conduct a faster fulfillment process and by doing so retailer are beginning to cut down the odds while increasing their profit.