The production department must design and follow certain standards, to ensure consistency in quality, productivity, efficiency and cost. We must [...]
Every production batch of each product to be manufactured by the company’s production facility must be carefully designed. • Each
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Proper management of production requires a lot of data. Proper data can help us in taking a lot of decision
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The production department must prepare and execute schedules for production and maintenance. Production Schedule The company must have a process
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The production team must be watchful and ensure that the production activity is progressing as per the schedule. Focused supervision [...]
Managing production essentially means managing the 6Ms: Man, Money, Machine, Material, Method and Market. Here is what is expected in
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Production managers must strive to increase productivity. In doing so, our efforts must be targeted on the following: • Information:
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At any moment of time, every company holds some stock of various items. These items collectively make up the inventory
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The methods used to control inventory focus on • Classification of inventory • Setting up minimum stock levels and ordering
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Reorder Level To maintain a satisfactory level of inventory for every material, a specific quantity is fixed as the reorder
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Different companies have different ordering methods, depending upon their product mix, warehouse and store locations, production or sales cycles, supplier
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• Inventory can hold a lot of money in investment for any manufacturing or trading company. It is an important
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A business requires various types of goods and services as its input. For a manufacturing unit, a lot of raw
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To facilitate proper coordination of purchase process, purchase department needs a Purchase Requisition for every purchase they are told to
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• For every occasional purchases of a significant value, a quotation is received from the supplier. • Generally, to have
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• Many a times, particularly in Export-Import business, before sending the goods, the seller sends an abridged or estimated version
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• To streamline the purchase process, a standardized Purchase Order (PO) should be issued by the buying company. • A
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• At the time of receiving the goods ordered through a Purchase Order, the buyer issues a confirmation through Goods
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