P

P-Value
The P-Value is the probability that your data could occur by random chance if the null hypothesis is true. P-value is precisely the largest significance level at which a null hypothesis cannot be rejected.

Pareto Principle
A principle developed by an Italian economist that states that the vast majority of the end results are determined by a small percentage of the group; also known as the “80/20 rule”.

PDCA
Plan, Do, Check, Act.
This is method or sequence of actions used to identify and plan important accomplishments and changes that are desirable; also known as the Deming Wheel or Shewhart Cycle.

Poka-Yoke
Refers to mistake-proofing.

POU ( Point of Use)
A Lean technique used to ensure that the correct part or tooling is at the right place and at the right time.

Process Capability
The measure of the ability of a process to produce products that fall within specification limits or within agreed upon customer requirements.

Product Segmentation
Grouping of parts based on similar characteristics or manufacturing process steps; facilitates flow.

Production Instruction Kanban
A production instruction kanban authorizes parts to be made; it operates between supermarket and upstream processes.
Pull System
A pull system produces parts only in response to actual customer demand. In a pull system, parts are produced only in the amount that has been consumed by the downstream process.

Push System
A system that produces parts according to a forecast of customer demand. The forecasted demand is usually either greater than or lesser than actual demand. In the push system, each process in the value stream operates as an “isolated island”, producing parts according to a forecast-based schedule received from production control without regard to the actual demand of downstream processes.