Ongoing cycles of modifying business processes for optimal effectiveness and efficiency.
Process improvement is a method that is used to enhance the end product. It is used to hone business processes to give the best possible outcome within constraints. Usually, process improvement cycles are used to raise the quality of the product or to meet new objectives. The process involves identifying the areas for improvement followed by analysis of the same. Finally, changes are implemented and then checking for tangible changes in results. It is the cycle of ‘plan, do, action and change’. Tangible changes can include measuring of parameters like product quality or customer satisfaction or return of investment and many others.