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 [...]
Two techniques or decision processes employed for planning and absorbing fluctuations in demand are as follows:- 1. Graphic Technique 2. Linear Programming Method. 1. Graphic Technique: The graphic technique is simple and shows clearly the fluctuations in production demand. However, it simply compares different alternative plans and by itself does not generate optimum plan. Moreover it is a static technique. [...]
After reading this article you will learn about:- 1. Definition and Concept of Inspection 2. Purposes or Objectives of Inspection 3. Kinds. Definition and Concept of Inspection: An item or component or product which is manufactured is required to perform certain functions. The act of checking whether a component actually does so or not is called Inspection. In other words, [...]