Abstract
Longer lead time in small and medium enterprises results in direct impact on delivering the project at the stipulated time period, hence resulting in more costs involved. The reason for the delay in the lead time is because of the various ‘waste’ factors which can be analyzed by using Failure Mode Effective Analysis (FMEA). The paper discusses on the steps used in FMEA right from listing of potential failure modes to taking necessary actions in eliminating or reducing the high-risk failure modes.
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