After reading this article you will learn about the control charts for variables and attributes. Control Charts for Variables: A number of samples of component coming out of the process are taken over a period of time. Each sample must be taken at random and the size of sample is generally kept as 5 but 10 to 15 units can [...]
After reading this article you will learn about:- 1. Introduction to Make or Buy Decision 2. Factors Considered for Make or Buy Decision 3. Criteria 4. Analysis 5. Procedure and Personnel Involved 6. Checklist. Introduction to Make or Buy Decision: Make or buy is a valid consideration in any cost reduction or product improvement programme. Advantages and disadvantages of possible [...]
After reading this article you will learn about value analysis as the best cost reduction technique:- 1. Definition of Value Analysis 2. Types of Values 3. Functions of a Product in Value Analysis 4. Steps 5. Un-Necessary Costs and Value Analysis 6. Value and Cost 6. Team Approach 7. Objectives 8. Stages 9. Requirements of a Product 10. Questionnaire 11. [...]