Q 14 Identification of a new project is a complex problem. Project selection process starts with the generation of project ideas. In order to select the most promising project‚ the entrepreneur needs to generate a few ideas about the possible project one can6 undertake. The project ideas as a process of identification of a project begins with an analytical survey of the economy (also known as pre-investment surveys). The surveys and studies will give us ideas. Generation Of Ideas• Most of
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supplying fresh product to the stores. It minimizes storage‚ inventory and overhead costs. Delivery of raw materials is scheduled based on the needs of production‚ such that materials arrive just as they are needed. A strong relationship with raw material suppliers and strict monitoring of material levels is essential to this inventory process b. Risk: This policy has a risk of production stoppage; if materials needed for production do not arrive in a timely manner‚ production may be delayed or halted until
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second quarter of the year. The following information is made available for this purpose. 1. Its expects to sell 50‚000 bags of during the second quarter at a selling price of Rs 9 per kg 2. Each bag of P Requires 2.5 kgs of raw material Q and 7.5 kgs of raw material R. 3. Q costs Rs 1.20 per kg‚ R costs 20 paisa per kg and empty bag costs 80 paisa each 4. It requires 9 minutes of direct labour time to produce and fill one bag of P. Labour cost is Rs 5 per hour. 5. Variable manufacturing
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SPARTAN HEAT EXCHANGERS INC. On June 10‚ Rick Coyne‚ materials manager at Spartan Heat Exchangers Inc. (Spartan)‚ in Springfield‚ Missouri‚ received a call from Max Brisco‚ vice president of manufacturing: “What can materials department do to facilitate Spartan’s new business strategy? I’ll need your plan in next week.” SPARTAN HEAT EXCHANGERS Spartan was a leading designer and manufacturer of specialized industrial heat transfer equipment. Its customers operated in a number of industries such
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into4 broad divisions: 1. To make available a balance flow of raw materials‚ components‚ tools‚equipments and any other materials necessary to meet operationalrequirements.2. To provide maintenance materials‚ spare parts and general stores asrequired.3. To receive and issue finished products.4. To accept and store scrap and other discarded material as they arise Definition & Scope of Materials Management Material management is an approach for planning‚ organizing‚ and controlling
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INTRODUCTION 1.1 INDUSTRY PROFILE: The cotton textiles industries have a unique place in the economic of our country. It is contribution to industrial development‚ employment opportunities export earnings is very significant. Production of superior quality yarn required selected and use of the right quality cotton and the cotton selection is complex process particularly in India where it is largely grown on rain field. Spinning industries are under the small scale
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Question and discussion As complete as possible‚ sketch the supply chain for Zara from raw materials to consumer purchase. Raw material – High tech automated cutting facilities – Small workshops – Ware houses – Stores – customers – Stores – Commercial managers Raw material Zara makes 40 percent of its own fabrics and produces more than half of its own clothes (maximize time efficiency) Cuts fabric in-house As it completes designs‚ Zara cuts fabric in-house. The cutting is done in Zara’s own
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department or for each production centre‚ there should be one purchase department. Upon the following factors the decision shall primarily depend:- a. the distance between the production centers & the central godown‚ b. the nature of the materials used i.e. whether the material is bulky‚ heavy‚ fragile etc. ‚ c. the cost & risk involved in transport‚ d. the firm’s policy in this respect; & secondarily upon the comparative advantage & disadvantage of the two systems. Where for the purpose of purchasing
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meet these demands by our customers “Superior Medical Devices‚ Inc‚ (SMD)” is to be able to subcontract a reliable suppliers‚ complete production engineering process at a timely manner‚ verification of product quality assurance‚ and planning both materials and resources. On another note‚ there are some concerns that might occur during this business transaction that may delay or slow down the production process as to getting these medical devices into hospitals hands. Some of the issues may be communication
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definition also defines that supply chain as the flow and management of resources across the enterprise for the purpose of maintaining the business operations profitably. Managing resources is an activity of 4M on which it comprises the management of materials‚ manpower or people‚ money and physical assets such as machines or buildings. It flows across the enterprise through nodes of supply chain operations as it involves the planning and execution processes across several functions. These processes include
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