Standardization and simplification of inventories, Business Management

Assignment Help:

For proper inventory control standardization of materials and products as well as simplification of the production line is necessary standardization refers to limiting of a production line to define types sizes and characteristics which are considered to be standard by which a comparison on evaluation can be made. Specification for components should also be fixed. it will ensure the quality or products manufactures. Simplification in inventories refers to the elimination of excess types and sizes of items. It leads to reduction in inventories and carrying cost.


Related Discussions:- Standardization and simplification of inventories

Explain the importance of communication at work, QUESTION 1 (a) Explain...

QUESTION 1 (a) Explain the importance of communication at work (b) Identify some major barriers to communication at work QUESTION 2 Explain how information technolog

Enumerate five key functions of management, QUESTION (a) Enumerate five...

QUESTION (a) Enumerate five obstacles to effective time management (b) Enumerate five key functions of management (c) Explain briefly Maslow's Hierarchy of Needs (d) W

Business ethics, what is utilitarianism and what are its benefit in busines...

what is utilitarianism and what are its benefit in business

Describe stress management programs, Describe stress management programs: ...

Describe stress management programs: Q. The Director of Nursing at Smalltown General Hospital claims that several nurses are experiencing job burnout. Describe the three compo

Impact of climate change on the automobile industry, Question 1: (a) E...

Question 1: (a) Explain the impact of climate change on the automobile industry. (b) The reliance on emerging technologies in the age of information is undeniable. Using e

Explain the vision of an entrepreneur, Explain the Vision of an Entrepreneu...

Explain the Vision of an Entrepreneur. Vision: An entrepreneur has visualizes the methods and means to get dream. In doing the same he visualizes, that: Market Demands, Soic

Decision making, Fred, a 17-year employee with Sam''s Sauna, was fired for ...

Fred, a 17-year employee with Sam''s Sauna, was fired for poor job performance and poor attendance, after accruing five disciplinary penalties within a 12-month period under the co

Monetary policy, Indicate how each of the listed variables(GDP, consumption...

Indicate how each of the listed variables(GDP, consumption and interest rates change in each of the following separate events. Briefly explain. a. The recent strengthening of t

introduction to business, The Four Seasons Corporation The Four Seasons ...

The Four Seasons Corporation The Four Seasons Corporation is a new firm to the market that is established recently. Since the garment industry is growing in a pace rate worldwide

Determine the minimum amount of capital, Question: A reinsurance compan...

Question: A reinsurance company writes a book of catastrophe reinsurance contracts to an expected combined ratio of 60%. It estimates that its aggregate claims distribution is

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd