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Time Study: Definition, Procedure and Methods

Meaning and Definition of Time Study: When a customer wants to purchase some products, then he usually compares the prices with those of similar products, which are being manufactured by other producers. Therefore, to give competitive quotations, estimation of accurate labour cost is very essential as it has got large effect on the price. If […]

Standard Data: Meaning, Uses and Methods

After reading this article you will learn about:- 1. Meaning of Standard Data 2. Methods for Determining Standard Data 3. Uses 4. Advantages. Meaning of Standard Data: Generally large number of man hours is spent in setting the time standards by using stop­watch time study. Further management is anxious to have the time standards before […]

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