Taken from the Japanese words “kai” (change) and “zen” (good). The popular meaning is continual improvement of all areas of a company and not just quality. A business philosophy of continuous cost, quality problems, and delivery time reductions through rapid, team-based improvement activities. Also see: Continuous Process Improvement
Kaizen Blitz:
A rapid improvement. This is a focused activity on a particular process or activity. The basic concept is to identify and quickly remove waste.
Japanese word for "visible record", that loosely translated means card, billboard or sign. Popularized by Toyota Corporation, it uses standard containers or lot sizes to deliver needed parts to the assembly line "just in time" for use. Empty containers are then returned to the source as a signal to resupply the associated parts in the specified quantity.
See: Knock-Down
A set of companies with interlocking business relationships and shareholdings. It is a type of business group with a common set of objectives similar to a consortium.
Key Custodians:
The persons, assigned by the security administrators of trading partners, that send or receive a component of either the master key or exchange key used to encrypt data encryption keys. This control technique involves dual control, with split knowledge that requires two key custodians
Key Performance Indicator (KPI):
A measure which is of strategic importance to a company or department. For example, a supply chain flexibility metric is Supplier On-time Delivery Performance which indicates the percentage of orders that are fulfilled on or before the original requested date. Also see: Scorecard
Light assembly of components or parts into defined units ahead of production issue or customer shipment. Kitting reduces the need to maintain an inventory of pre-built completed products, but increases the time and labor consumed at shipment. Also see: Postponement
Knock-Down (KD):
A flat, unformed cardboard box or tray. Knock-downs, also known as KDs, are constructed and glued in the recoup or packaging areas and used for repacked product. Many KDs are provided by the customer for their recouped products.
Knowledge Management Systems:
Generally an IT based system for managing knowledge in organizations for supporting creation, capture, storage and dissemination of information.
See: Key Performance Indicator