lower specification limit
Definition
The lowest level of process performance or product quality that is within the acceptable range defined by customer standards and measurements of defects in the process or product itself. Control charts for process improvement approaches such as Six Sigma typically include a lower specification limit, and may include an upper specification limit as well.
Related Articles
- Basic Bonds Terminology *
- Types of Accounts Typically Offered by Banks *
- Information on the Less Commonly Used Types of Insurance *
- Overview of Online Banking and Related Issues *
- Figuring out the Best Car Type for You *
- An Overview of Credit Regulations *
- Being a Savvy Investor AND a Small Business Owner *
- Types of Stock Mutual Funds *
Related Videos
http://www.businessdictionary.com/definition/lower-specification-limit.html
