Term of the Day Lean Six Sigma

Term of the Day

Lean Six Sigma

management approach for problem solving and process improvementbased on a combination of the different tools of Six Sigma and Lean Manufacturing.
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Usage Example
After researching what type of methodology to use to complete the task we decided using Lean Six Sigma would be the best since it forced us to work as a team while eliminating waste throughout the process.
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Term of the Day contract

Term of the Day

contract

  1. binding agreement between two or more parties for performing, or refraining from performing, some specified act(s) in exchange for lawfulconsideration.
  2. The unit of trade for a financial or commodity future.
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Usage Example
After one party failed to meet the terms of the contract, the other party took the issue to court to be resolved.