One of the six Sigma phases of quality. It consists of the following steps: (a) define performance objective, (b) identify independent variables, and (c) analyze sources of variability. See: design-me asure-analyze-improve-control process....
Any series of firms or individuals that participates in the flow of goods and services from the raw material supplier and producer to the final user or consumer. See: distribution channel.
A ratio of total measurable benefits to the initial capital cost. This might be used in deciding which projects to pursue in a continuous improvement effort.