K

Kaizen Taken from the Japanese words kai and zen where kai means change and zen means good. The popular meaning is continuous improvement of all areas of a company not just quality.

Key Performance Indicators KPI refers to the short list of measurable parameters that will indicate how well the business is doing at attaining its goals. In a manufacturing quality scenario, this may be the amount of scrap or rework that gets metered. In a service quality scenario, such as an insurance company, this may be the open inventory of unprocessed claims. In brand management, market share in itself and in comparison with competing brands is sure to be relevant. In logistics, on time deliveries, empty return loads, or missing items are candidate indicators.

KJ method Another name for the affinity diagram, after its inventor, Kawakita Jiro.

Knowledge Management The leveraging of collective wisdom to increase responsiveness and innovation.