This article throws light upon the six steps involved in method study. The steps are: 1. Select 2. Record 3. Critical Examination 4. Develop 5. Install 6. Maintain. Step # 1. Select: Select the work worth studying and define the objectives to be achieved. An objective may be to reduce the manufacturing cost, or to reduce bottlenecks or to reduce [...]
This article throws light upon the top seven techniques used for measuring work. The techniques are: 1. Analytical Estimating 2. Predetermined Motion Time System (P.M.T.S) 3. Method-Time-Measurement (M-T-M) 4. Work Factor 5. Activity Sampling, Ratio-Delay Study or Work Sampling 6. Use of Time Study Data in Wage Incentive and Collective Bargaining 7. Ergonomics. Technique # 1. Analytical Estimating: Setting the [...]
Laws of Returns occupy a central position in production. It has been seen that an entrepreneur increases the quantity of various factors of production in order to increase the output of his factory so as to earn higher profits. The returns due to these additions in the factors of production are not always fixed. Sometimes returns increase due to increase [...]