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A business involves many people, places, equipment, material, documents, information and processes. All these components must work together in perfect [...]
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A system is a set of interrelated or interacting elements. So, a system is a collection of people, places, things, [...]
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Within a business, there may be smaller sub-systems. e.g.: • Information System (The hardware, software and people which enable our [...]
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The world has become a global village. That has given rise to an increased trade among companies across countries. Globalization [...]
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• Entering the international market should not be done in a hurry or without a proper and long term plan. [...]
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Importing goods from other countries is very popular in case of certain products and services. Success in importing requires understanding [...]
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Sourcing of Suppliers Find out which countries are allowed or disallowed by our government to import from. There are various [...]
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Finalization of terms and conditions is the most important part in importing and must be handled properly. • As stated [...]
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Production management involves the job of coordinating and controlling the activities required to manufacture a product. Production planning and its [...]
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Production planning requires creation of production capacity, which may include setting up plants, equipment and other supporting infrastructure. Plant Layout [...]
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Entire production activity is a series of processes. Starting from raw material to the production of finished product, there is [...]
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The production department must design and follow certain standards, to ensure consistency in quality, productivity, efficiency and cost. We must [...]
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Every production batch of each product to be manufactured by the company’s production facility must be carefully designed. • Each [...]
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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 [...]
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Managing production essentially means managing the 6Ms: Man, Money, Machine, Material, Method and Market. Here is what is expected in [...]
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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 [...]