After reading this article you will learn about systems concept and value analysis. Systems Concept: The society and the industry is more complex today than it was ever before. More and more persons are acquiring higher education and technical skills, newer materials and information’s are being rigged up and under such situations, rules of thumb cannot be highly relied upon. [...]
Several common methods used for evaluating proposals for capital expenditures and for comparing and selecting alternative machines or equipment involving capital assets are discussed:- 1. Total life average method, 2. Annual cost method, 3. Present worth method, 4. Rate of return method, 5. MAPI method, and 6. Approximate MAPI solution. 1. Total Life Average Method: Steps Involved: (i) Add the [...]
After reading this article you will learn about:- 1. Introduction to Foreman 2. Duties and Responsibilities of a Foreman/the Supervisor's Job 3. Qualifications 4. Qualities. Introduction to Foreman: A Foreman generally designated by Supervisor (in most of the industries) is a person in charge of, and coordinator of, the activities of a group of workers engaged in one type of [...]