After reading this article you will learn about the inventory buildup and actions for avoiding it. Inventory buildup starts because of the reasons, either (i) items get ordered in excess of the requirement or (ii) they do not get used at the same rate at which they are received. To overcome the first possibility, orders should be placed after consulting [...]
After reading this article you will learn about:- 1. Concept of Management 2. Functions of Management 3. Nature 4. Importance. Concept of Management: Every business requires planning for the future to find a way to successful business for which the person in the helm of affairs has to take decisions and is responsible for the consequences for his decision making [...]
This article throws light upon the seven economic principles that strengthen managerial ability of the farm manager. The principles are: 1. The Law of Diminishing Marginal return or Law of Variable Proportion 2. The Law of Equi-marginal Relationship 3. The Law of Opportunity Cost 4. The Law of Substitution 5. The Principles of Comparative Advantages 6. Principles of Combining Enterprises [...]