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Kaizens or Kaikakus and Six Sigma projects are intended to create incremental process improvements versus breakthrough, significant improvements.
A Belt working in a supply chain environment has to make a decision to change suppliers of critical raw materials for a new product upgrade. The purchasing manager is depending on the Belt’s effort requiring that the average cost of an internal critical raw material component be less than or equal to $4,200 in order to stay within budget. Using a sample of 35 first article components, a Mean of the new product upgrade price of $4,060, and a Standard Deviation of $98 was estimated. Select the answer that best states the Practical Problem.
A ___________ is used primarily to track the stability of the average value of a metric of interest.