After reading this article you will learn about:- 1. Definition and Concept of Inspection 2. Purposes or Objectives of Inspection 3. Kinds. Definition and Concept of Inspection: An item or component or product which is manufactured is required to perform certain functions. The act of checking whether a component actually does so or not is called Inspection. In other words, [...]
After reading this article you will learn about the process and machine capabilities. Process Capabilities: A process capability study is a determination of the total spread of the process as determined by measuring the product produced under controlled conditions. The process capability is independent of the specification but is determined by: (i) The condition of the machine, (ii) Operator skill, [...]
Sales forecasting techniques may be categorized as follows:- 1. Historic Estimate 2. Sales Force Estimate 3. Trend Line (or Time Series Analysis) Technique 4. Market Survey 5. Delphi Method 6. Judgmental Techniques 7. Prior Knowledge 8. Forecasting by Past Average 9. Forecasting from Last Period's Sales 10. Forecasting by Moving Average and Few Others. Technique # 1. Historic Estimate: This [...]