After reading this article you will learn about:- 1. Meaning of Flow Pattern 2. Factors Governing Flow Pattern 3. Types. Meaning of Flow Pattern: "Flow Pattern" means the system to be adopted, for the movement of raw materials, from the beginning and up to the end of manufacturing. The overall-objective of the 'Flow Pattern' is to plan for the economical [...]
After reading this article you will learn about the management of spare parts for equipments. Machines worth crores of rupees are idle for want of spares, on the other hand huge stores are lying which perhaps may not be used. Thousands of crores of rupees are locked in obsolete items. This emphasize the need of paying more attention on management [...]
Following are some of the important methods which are used for equipment replacement studies: 1. Pay-Back Period Method 2. Total Life Average Method 3. Annual Cost Method 4. Present Worth Method 5. Rate of Return Method 6. M.A.P.I. Method. 1. Pay-Back Period Method: This method of equipment replacement studies determines as to how long it will take (in years) to [...]