Category: Business

Network analysis is a managerial technique which helps to identify the interconnecting links in a single system. It is a useful tool in systems design which assists in recognizing or identifying the relationships that exist among the sub-systems.It is done by describing each segment or linkage of the system in terms of other components or activities of the system. Thus, it makes explicit the total system and the interrelationships among the parts. A network is illustrated by a flow chart or diagram. The flow of materials and/or information is measured as volume, specifications or time. Benefits: ADVERTISEMENTS: 1. It helps to reappraise existing systems and identify duplication and over-lapping that may detract from the effectiveness of the system design.2. It helps management to evaluate the sub-systems and their interconnecting networks…

The detailed procedures/steps involved in any Method Study investigation may be taken as: 1. Selection of the Job: The first step, once the Method Study idea is conceived, is the orientation and determination of objectives. The problem must be defined. Some common problems the Method Study investigator faces and is usually required to solve are:(a) Bottlenecks that disrupt smooth flow of materials or processes ADVERTISEMENTS: (b) Products that need to be produced economically by the application of cost-reducing techniques(c) Economic utilization of space, including land and buildings(d) Economic utilization of labour, material and plant(e) Elimination of idle item or non-value adding time caused by problems of flow, queues and congestion Image Source: cdn.abclocal.go.com ADVERTISEMENTS: While selecting the subjects for study, firstly, it is essential to remember that the ultimate objective…

5 Important Functions of Production Control are described below:1. Basic planning for developing policy decisions, stock holdings, delivery periods for customers, etc.2. Pre-production planning that includes capacity planning and also controlling the receiving of orders ADVERTISEMENTS: 3. Ordering of make-and-buy items including direct ordering, requirements planning and stock control4. Manufacturing control, including:(a) Shop load analysis(b) Shortage control ADVERTISEMENTS: (c) Avoidance of potential delays(d) Production scheduling(e) Maintenance of progress records5. Inventory management and store keeping Image Source: asme-dscd.org ADVERTISEMENTS: Organizations that offer competitive delivery dates to their customers are bound to attract more business and show a healthy growth. When making such offers, organizations have to take into consideration the sequence of activities associated with manufacturing and delivering the product. This production chart then needs to be matched with the quoted…

Depending on the nature of c, operations managers need to perform various managerial functions like, planning, directing, coordinating operations, decision taking, policy framing, controlling inventory, supply chain management, job scheduling, job-wise manpower allocation, etc.However, this is only an indicative list. Some organizations even assign the duties of chief executive officer to operations managers. In many organizations, we find the position of Chief Operating Officer at the operations level.The functions of a operations manager even though vary with the nature of the products or services, it can typically have following commonalities— Image Source: ceriusexecutives.com 1. Production Planning and Control: ADVERTISEMENTS: This involves deciding the course of action for actual production after the receipt of orders. Usually, Sales or Marketing Department receives or books orders from the customers and send their requisitions…

The concept of a coparcenary under the Dayabhaga system is entirely different from the one under the Mitakshara law.Hence, the distinguishing features of a Dayabhaga joint family will now be considered, whilst considering briefly the points of distinction between the two. 1. Sons do not acquire any right by birth: ADVERTISEMENTS: Under the Mitakshara law as it existed prior to the 2005 Amendment of the Hindu Succession Act, each son acquired, at his birth, an interest equal with his father, in all ancestral property held by the father, and on the death of the father, the son got this property, not as his right, but by survivorship.However, under the Dayabhaga law, the sons do not acquire any interest in the ancestral property by birth. Their rights arise, for the first…