After reading this article you will learn about the control charts for variables and attributes. Control Charts for Variables: A number of samples of component coming out of the process are taken over a period of time. Each sample must be taken at random and the size of sample is generally kept as 5 but 10 to 15 units can [...]
After reading this article you will learn about:- 1. Meaning of Acceptance Sampling 2. Role of Acceptance Sampling 3. Quality Indices. Meaning of Acceptance Sampling: Sampling is the tool or technique of statistical quality control. Webster defined a sample as a product to represent the quality of the whole lot. Frequently, we in our daily life come in contact with [...]
Material cost is a main component in the total cost of the product (varying from 25 to 70%). Therefore, in order to control the cost, it is necessary to pay maximum attention for controlling material cost in following way: Way # 1. Control Over Abnormal Losses: These are avoidable losses and are wastage which should be controlled. These losses arise [...]