Acronymn that stands for Time, Errors, Amount and Money.
When defining metrics for a process, this acronym can help you identify items to measure to determine how good your process is performing.
- Time – How long does the process take? How long is the total time (from the customers perspective)
- Examples: Cycle time, lead time, queue time, wait time, setup time, value-added time, manual touch time, processing time (non-touch time), etc
- Errors – How many mistakes were made? How often is the process done wrong? What percentage of the time is the customer happy/satisfied with the deliverables
- Examples: Defects, rejects, yield, % complete and accurate
- Amount – How many items are completed per hour, per day, per week, per month?
- Examples: Items, tasks, paperwork, widgets, lines of code, weight, volume, phone calls, emails
- Money – How much money does it cost to run once? How much does the process cost for labor, materials, expenses, etc?
A new version includes an S for Sustainability, called TEAMS.
- Sustainability – How much energy or fuel is used in this process? How much carbon emissions? How much cost or volume of chemicals are used or discarded? How much material (tons) is going to recycling, trash or the landfill? How much water is consumed or wasted?