What is moving range in SAP MFG-DM-ME - Digital Manufacturing Execution?

SAP Term: moving range

• Component: MFG-DM-ME

• Component Name: Digital Manufacturing Execution

• Description: The range for the set of chart points that includes the current point and the preceding points.

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• Key Concepts: 
  Moving range is a term used in SAP's Digital Manufacturing Execution (MFG-DM-ME) component. It is a measure of the variability of a process over time. It is calculated by subtracting the current value from the previous value in a series of data points. The moving range is used to identify trends and patterns in data, and to detect changes in the process. 
  
  How to use it: 
  The moving range can be used to identify changes in a process over time. It can be used to detect trends and patterns in data, and to identify areas where improvement is needed. The moving range can also be used to compare different processes or products, and to identify areas where further investigation is needed. 
  
  Tips & Tricks: 
  When using the moving range, it is important to remember that it is only an indication of variability, not an absolute measure of performance. It should be used in conjunction with other measures, such as mean and standard deviation, to get a more complete picture of the process. 
  
  Related Information: 
  The moving range is related to other measures of variability, such as mean and standard deviation. It can also be used in conjunction with other statistical methods, such as control charts, to identify areas where improvement is needed.