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Glossary

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TIMWOODS in Lean Six Sigma - 8 Types of Waste

In the world of Lean Six Sigma, there are 8 types of loss/waste. You can remember them using the acronym TIMWOODS.

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TISAX

TISAX stands for Trusted Information Security Assessment Exchange and is used to demonstrate that a supplier (especially Tier 1 and Tier 2) to the automotive industry meets stringent information security requirements. TISAX was created by the German Automotive Industry Association VDA.

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TOC

TOC, or Theory of Constraints, offers a universal analytical method for managing and improving business operations. Its core objective is identifying and leveraging system bottlenecks to maximize outcomes, focusing on the weakest link for optimal benefits. Without constraints, a system would achieve goals limitlessly.

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TPM

TPM, or Total Productive Maintenance, aims to optimize manufacturing equipment efficiency. Key principle: engage all, from operators to management, for ongoing process and equipment enhancement, fostering shared knowledge and ownership.

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TPS

TPS is a set of principles that emphasize the elimination of waste and continuous process improvement to improve the efficiency, quality and flexibility of their production processes, reduce waste and empower employees.

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Transparency

It is a state in which the information published is, to the maximum extent possible, comprehensible, verifiable and regularly published. It means that financial and business activities are conducted in an open manner.

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