Sukanta Maiti 
Managerial Economics can be defined as the branch of economics which deals with the application of various concepts, theories, and methodologies of economics to solve practical problems in business management.
Pricing is a process of setting the value that a manufacturer will receive in the exchange of services and goods. If manufacturers set prices too high, they miss out on valuable sales. Set them too low, and they miss out on valuable revenue.
Product Packaging is the art and science of preparing goods or product for transport and sale. Packaging is the means of ensuring safe delivery of the product to the ultimate customer in sound condition at a minimum overall cost.
Sales Promotion is a marketing activity that boosts sales, creates brand awareness, and increases customer loyalty. It involves offering discounts on some products or providing incentives for customers to engage with your brand.
Supply and demand form the most fundamental concepts of economics. Whether you are an academic, farmer, pharmaceutical manufacturer, or simply a consumer, the basic premise of supply and demand equilibrium is integrated into your daily actions. In any market transaction between a seller and a buyer, the price of the good or service is determined by … Read more
Material Requirements Planning (MRP) is a basic digitally operated supply planning technique to help manage inventory. An MRP system enhances production process efficiency through proper estimation of needed materials and just-in-time delivery.
Planned maintenance is a proactive approach to maintenance in which maintenance work is scheduled regularly. The fundamental goal of planned maintenance is to maximize equipment performance by keeping it working as long as possible while remaining safe.
Reliability-centred maintenance (RCM) is the best possible maintenance strategy for optimizing a company’s or facility’s maintenance process. The execution of the specific maintenance plan on each of the facility’s assets is the end result of an RCM process.
Accounts receivable (AR) is the balance of money due to a firm for goods or services provided, but not yet paid for by consumers. Accounts receivables are recorded on the balance sheet as a current asset.
Budgeting is the process of looking at a business’s estimated incomes and expenses over a specific period in the future. It allows a business to see if they will be able to continue operating at their predicted level with these projected incomes and expenditures.
