Tag Archives | Production Management

Probability: Concept and Its Application

After reading this article you will learn about the concept of probability and its application. Concept of Probability: The basic idea in the theory of probability is the law of large numbers. Probability concept states that certain mass phenomenon have a tendency towards regularity in behaviour i.e. if sample is drawn from the mass of universe (population) without any bias, [...]

By |2016-11-02T05:59:44+05:30November 2, 2016|Production Management|Comments Off on Probability: Concept and Its Application
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Travel Chart: Meaning and Uses | Materials Handling

After reading this article you will learn about the meaning and uses of travel chart. The chart which gives an estimate about the amount of materials handling between various work stations is known as "Travel Chart". The aim in the construction of Travel Chart is to decide such a layout where overall materials handling function is performed at a minimum [...]

By |2016-11-02T05:59:44+05:30October 27, 2016|Materials Handling|Comments Off on Travel Chart: Meaning and Uses | Materials Handling
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