Products may be classified as:- 1. Convenience Goods 2. Shopping Goods 3. Specialty Goods 4. Industrial Goods. Type # 1. Convenience Goods: Convenience goods such as cigarettes, candy bars, blades, magazines etc. All these items are found clustered around the checkout stand of food stores, and food, of course, is usually a convenience good. Convenience goods are placed so that [...]
After reading this article you will learn about line balancing and its methods. Line Balancing: Line balancing means balancing the line, for example balancing the production line or an assembly line. Suppose there are three machines (work stations) A, B and C, which can process 5, 10 and 15 pieces per unit time respectively and the pieces flow from A [...]
This article throws light upon the sixteen main factors affecting plant location. Some of the factors are: 1. Nearness to Raw Material 2. Transport Facilities 3. Nearness to Markets 4. Availability of Labour 5. Availability of Fuel and Power 6. Availability of Water 7. Climatic Conditions 8. Financial and Other Aids 9. Land 10. Community Attitude and Few Others. 1. [...]