A control chart on which the plotted value is the cumulative sum of deviations of successive samples from a target value. The ordinate of each plotted point represents the algebraic sum of the previou s ordinate and the most recent deviations from the target....
An accounting/financial term (balance sheet classification of accounts) representing the short-term resources owned by a company, including cash, accounts receivable, and inventories. See: assets, bal ance sheet....
1) The current or replacement cost of labor, material, or overhead. Its computation is based on current performance or measurements, and it is used to address today's costs before production as a revi sion of annual standard costs. 2) An asset's value based on the cost of an identical asset purchased today....
A logic-based tool for using cause-and-effect relationships to determine root problems that cause the observed undesirableeffects of the system. See: root cause analysis.