Discover how quality control charts help track product standards, pinpoint issues, and ensure processes meet specifications with this essential tool for quality assurance.

Discover how efficiency variance reveals the gap between expected and actual inputs in production and its impact on labor, materials, and costs.

Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

Many finance teams treat variance analysis as a box-checking exercise: Set a threshold, flag the swing, move on. That’s why so many controllers spend days chasing noise while risks slip through. It’s ...

Some connections are established, by elementary and intuitive paths, among the following statistical techniques: Shewhart control charts, analysis of variance, and chi-square tests.