Definition of Product Quality Before nosotros give-up the ghost on to understand, “ what is product quality ? ” First, let's focus on the definition of quality. It is non tardily to define the tidings Quality since it is perceived differently past times the dissimilar laid of individuals. If experts are asked to define quality, they may give varied responses depending on their private preferences. These may live similar to next listed phrases. According to experts, the tidings lineament tin live defined either as; Fitness for utilization or purpose. To create a correct affair at outset time. To create a correct affair at the right-time. Find together with know, what consumer wants? Features that come across consumer needs together with give client satisfaction. Freedom from deficiencies or defects. Conformance to standards. Value or worthiness for money, etc. Dr. Joseph Juran coined a brusque definition of lineament as; “Product's fitness for use.” Juran's defi

What is Scheduling? Definition The definition of scheduling every bit quoted past times eminent scholars are every bit follows: production command which rates the piece of work inwards the guild of its priority together with hence provides for its unloose to the constitute at the proper fourth dimension together with inwards the right sequence. Thus, it is concerned alongside when piece of work shall hold out performed on a production or part.” This definition is referred from a volume titled ‘Industrial Organization together with Management,’ showtime published inwards 1945. This volume is a collective piece of work of Franklin S. Atwater, Lawrence L. Bethel, Harvey A. Stackman (Jr) together with George H. E. Smith. 4. According to Leon Alford together with Henry Beatty , “Fitting specific jobs into a full general time-table hence that orders may hold out manufactured inwards accordance alongside contracted liability, or inwards volume production, hence that each constituent may br

Meaning of Inventory Let's notice out, What is inventory? Inventory is the stock of goods held for doing business . It is unremarkably required to bear on the concern together with its allied activities. Important points roofing the important of inventory is depicted below. production process. Work inwards progress (WIP). For example, semi-finished goods. Captive consumable goods are goods produced together with used past times producer. Finished goods which are available for sale. Inventory besides includes investment made inwards raw-materials together with their parts inwards accordance amongst the inventory policy established past times the management . Definition of Inventory Inventory tin live on defined inwards many ways w.r.t unlike prespectives. Following selected statements volition assistance yous to larn a wide agreement of its concept. demand together with furnish inwards the market together with tin live on easily realized inwards cash .” Examples

Meaning of Production Standards Production measure is a criterion or yardstick or benchmark. It is used for measure the production of the company. Production standards are fixed for raw materials, production process, tools in addition to equipment, workers, weather condition of work, speed of work, quantity of output, character of output, etc. Production standards are to a greater extent than oftentimes than non expressed inwards quantitative terms. That is, it is expressed inwards terms of units of output, units of time, kilograms, flora capacity, thus on. Production standards give administration in addition to guidance to the production department. It is also used for controlling the production activities. That is, the actual production tin last compared amongst the production standards, in addition to the divergence tin last found out in addition to corrected. It is a signal of reference. It helps to uncovering out whether the function was done as per plan. Image credits © Prof.

Definition of Fixed Capital In general, the definition of fixed capital tin last stated every bit under. “Fixed working capital alphabetic quality is a compulsory initial investment made past times the entrepreneur to offset upwards the activities of his business .” Fixed working capital alphabetic quality is a mandatory erstwhile investment made at the introductory stage of a trouble concern establishment. Fixed working capital alphabetic quality is non alike working capital, which is required on a continuous reason to operate (run) the ordinary course of teaching of production together with distribution of goods together with services. land , building, mechanism together with other assets having a relatively permanent existence.” Fixed working capital alphabetic quality is a permanent investment made to consider the longer-term needs (requirements) of the trouble concern activities. Thus, fixed working capital alphabetic quality has a permanent beingness inward the business. It

Definition of Productivity The definition of productivity according to management proficient Peter Drucker. “Productivity agency the remainder betwixt all factors of production that volition hand the greatest output for the smallest effort.” Productivity is expressed or measured equally a mathematical segmentation of 2 of import parameters (functions) viz., output as well as input. The concept of productivity is depicted inward the next illustration. Image credits © Prof. Mudit Katyani. Meaning of Productivity Productivity is a human relationship betwixt output as well as input. It is expressed or measured equally a ratio of output as well as input. In other words, it equals output divided past times input. Some examples of productivity criterion are equally follows: Productivity of a manufacturing unit of measurement tin live on measured inward damage of the release of goods produced inward closed to fixed sum of fourth dimension (usually inward hours). Generally, productivity o

What is Inventory Control? Definition 1. According to Gordon Carson , " Inventory command is the physical care for where past times the investment inwards materials together with parts carried inwards stocks is regulated, inside pre-determined limits railroad train inwards accordance amongst the inventory policy established past times the management ." This definition of inventory command is taken from a mass titled ' Production Handbook ' published inwards 1958 together with edited past times Gordon B. Carson. Definitions of inventory command w.r.t dissimilar perspectives are quoted below. level of management of a company. It requires a strategic conclusion to live on taken for its effective implementation. Its proper implementation is the responsibleness of the shop manager." 4. In an Academic perspective, "Inventory command is a method to position those stocks of goods, which tin live on used for the production of finished goods. It shall live on su

Definition of Work Measurement According to International Labour Organization “Work measurement is the application of techniques designed to constitute the fourth dimension taken for a qualified worker to acquit out a specified chore (task) at a defined marking (rate) of performance.” International Labour Organization ( ILO ) stated this of import definition of locomote measuring inwards its publication. Now let's locomote along to know the important of locomote measurement. Meaning of Work Measurement The important of locomote measuring is mainly based on 3 telephone commutation steps. Work measuring agency to: Find out the dissimilar elements (parts) of the production physical care for (job). Find out the fourth dimension taken yesteryear each element. Fix the measure fourth dimension for performing the production process. For example, publishing a mass is a production process. There are many elements, which are involved inwards the publication of a book. In other word