After reading this article you will learn about:- 1. Meaning of Product Development 2. Procedure for Product Development 3. Principles. Meaning of Product Development: A product is an article obtained by the transformation of raw material and is marketed/sold by the manufacturer, i.e., a product is a salable item. It may be a consumer product such as cigarettes, televisions or [...]
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, [...]
Sales forecasting techniques may be categorized as follows:- 1. Historic Estimate 2. Sales Force Estimate 3. Trend Line (or Time Series Analysis) Technique 4. Market Survey 5. Delphi Method 6. Judgmental Techniques 7. Prior Knowledge 8. Forecasting by Past Average 9. Forecasting from Last Period's Sales 10. Forecasting by Moving Average and Few Others. Technique # 1. Historic Estimate: This [...]