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Statistical Process Control for Managers by Victor E. Sower

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CHAPTER 1

The Value SPC Can Add to Quality, Operations, Supply Chain Management, and Continuous Improvement Programs

We don’t like volatility. Nobody likes volatility.

—Lionel Guerdoux Managing Partner, Capricorn Venture Partners

Uncertainty is something organizations struggle to deal with. A few examples of how organizations cope with uncertainty include pro formas, which are prepared for a variety of contingencies; forecasts that are created with confidence intervals to assess the magnitude of uncertainties; production planning, which often involves an attempt to predict the range of unpredictable possibilities that render the plan obsolete on a nearly daily basis; and order quantities that include safety stock.

Statistical process control ...

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