The following article is reprinted with permission from The Conversation, an online publication covering the latest research [dropcap]I[/dropcap]n a globalised and dynamic economic system, there is a powerful and controversial organisation that has the economic firepower to bail out entire countries: the International Monetary Fund. The IMF plays an important role in the world but recent events have divided its members and weakened its potential to fulfil its role, threatening its very existence. The creation of the IMF and the World Bank, two distinct but complementary organisations, was signed off at a conference in Bretton Woods in July 1944. That…
Author: Faraz Anwar Shah
[dropcap]T[/dropcap]he term Genchi Genbutsu literally translates from Japanese as ‘going to the source’. In order to solve the problem within an automotive industry or any other related field, the best way to understand the root cause of the problem is to physically go to the source or Gemba (place of occurrence) to analyze the root cause. Without proper root cause, it is practically impossible to come up with a proper and permanent fix to the problem. We must analyze the point of occurrence in order to get as much clues as possible. A proper diagnosis cannot be made if we…