GMS 401 Chapter Notes - Chapter 3s: Normal Distribution, Exponential Distribution

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Wally Whistance- Smith

Document Summary

Failure has far reaching effects on a firm"s: operation, reputation - are products meeting and exceeding customers" expectations, profitability equals and creates opportunities. No profits are bad profits: dissatisfied customers, idle employees, profits becoming losses, reduced value of investment in plant and equipment. The ability of a product, part, or system to perform its intended function under a prescribed set of conditions. Used in 2 ways: do not want out of carton failure: when activated (one point in time) 1: providing redundancy providing a back-up plan. Reliability: the ability of a product, part, or system to perform its intended function under a prescribed set of conditions. Failure: situation in which a product, part, or system does not perform as intended. Normal operating conditions: the set of conditions under which an item"s reliability is specified: times when products work, even outside normal operating condition robust product exceeds normal expectations. Overdesign enhance design to avoid failure (eg. use more durable material)