Steps list for control material
pritamkurrey111 The main stages of control are as follows (a) Determination of order points – Order points are indications of the quantity of content control that act as insurance against the…
Business Ideas
Demand forecast
Business managers need various forecasts. They need to forecast demand, supply, price, profit, cost and investment. A more emphasis can’t be given on the importance of demand or sales forecast.…
Just in time system – Seven waste
Shigio Shingo, a Japanese JIT authorities and engineer- Toyota Motor Company has identified seven waste that are aims for continuous improvement of production processes. A attention is improved by paying…
just in time philosophy
JIT Darshan The roots of the JIT system can probably be discovered in the Japanese environment. There are underlying limits of location deficiency and lack of natural resources in Japan.…
Demand function
In a given market in a given time period, the demand function for a commodity may be defined as “the relation between the various quantities of the commodity demanded and…
Importance of demand forecast
1. Management Decision- An efficient demand forecast helps management make suitable decisions regarding plant ability, raw material requirement, location and building needs and availability of labor and capital. Production program…
Material control
1. Should be proper cooperation and cooperative- coordination among the departments involved in the purchase. Obtaining and inspecting, storing, selling, producing and accounting so as not to have inadequate availability…