Takt Time
Takt time is the rate at which the customer buys a product or the rate at which you need to produce a part based on your customer’s order rate for a given period of time.

Total Productive Maintenance (TPM)
TPM is productive maintenance with the involvement of all employees. The Goal of TPM is to restore equipment so that it is in a like-new condition and to keep it in a like-new condition to ensure maximum machine availability.

Type I Error
The error in rejecting H0 when it is in fact true, or in saying there is a difference when in fact, there is no difference.

Type II Error
The error in failing to reject H0 when it is in fact false or in saying there is no difference when there really is a difference.