DRIFT Theory
DRIFT (Doing it right the first time) is a
theory from managerial accounting that relates to just-in-time (JIT) inventory
(where a company only receives goods as they are needed to cut down on inventory
costs) and production management. The idea behind DRIFT is that management wants
all of the processes that make up the JIT philosophy to be done correctly and
efficiently so there are no delays in the production process.
Philip
Crosby promoted the principle of �doing it right the first time� (DRIFT)
and he dissected this into four major principles:
- Quality is conformance to requirements
- The management system is prevention
- The performance standard is zero defects
- The measurement system is the cost of
quality
The importance of DRIFT arises from the fact
that a JIT production system is heavily reliant on the movement of parts and
information along the production process. Subsequently, if there is the
slightest error at one of the stages of production the whole production process
will be affected. By "doing it right the first time" a company is able to run a
smooth production process without needing to carry excessive inventory and
greatly diminish the costs of production.
References
http://www.investopedia.com/terms/d/drift.asp
http://www.mangurus.com/sections/gurus/?article_id=philip_b_crosby&selected_seq_num=13
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