Definition
Statistical Process Control (SPC) is a quality management technique used to monitor, control, and improve process performance by analyzing statistical data. SPC involves collecting and analyzing process data over time to identify variations, trends, or patterns that may affect product quality or consistency. SPC tools such as control charts, histograms, and Pareto charts are used to monitor process stability, identify sources of variation, and make data-driven decisions for process improvement.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.