BANK SEBI Grade A Phase 1 & Phase 2 Mock Test 2024 Accounting and Auditing Cost and Management Accounting
Which of the following best describes the DMAIC methodology in Six Sigma?
1
A process for defining customer requirements, measuring current performance, analyzing root causes, improving processes, and controlling future performance
2
A method for continuous improvement that eliminates waste and increases productivity
3
A strategy for implementing quality management systems compliant with ISO standards
4
A framework for benchmarking performance against industry best practices
5
A tool for forecasting demand and aligning production schedules accordingly