Manufacturing Resource Planning (MRP II): [PDF Inside] Elements, Advantages, Disadvantages, MRP I VS MRP II

Manufacturing Resource Planning (MRP II) is a technique for the effective planning of all manufacturing resources of a company. It enables manufacturers to develop a precise production schedule for the future that minimizes expenses and maximizes the utilization of available resources.

Read more

ABC Analysis: Example, Benefit, Drawbacks, Implementation, [PDF inside]

ABC analysis is an inventory management approach that controls the value of inventory items based on their usefulness to the business. ABC usually ranks items on demand, price, and risk data, and inventory managers group items into classes based on those principles so that business leaders can understand which products or services are most crucial to the financial profit of their business.

Read more

What is Scrum? [PDF] Definition, Roles, Pillars, Events, Artifacts, Advantages & disadvantages

 A scrum is an iterative method, consisting of sprints that normally last 1 to 4 weeks. This method ensures that your team provides a version of the product regularly. it was created using a software model that follows a set of functions, duties, responsibilities, and meetings.

Read more

What is Just-In-Time? [PDF] | Definition, Process, Benefits, Disadvantages, and Example

Just-in-time (JIT) is an inventory management approach in which goods are received from suppliers only as they are required. The main purpose of this strategy is to decrease inventory holding costs and increase inventory turnover.

Read more

Kanban- Definition, Process, Principles, Practices, Kanban Board, Advantages and Disadvantages [PDF Inside]

Kanban is a framework that takes place under the Agile methodology. It was formed in the late 1940s by a Japanese engineer named Taiichi Ohno. The agile Kanban Framework concentrates on visualizing the whole project on boards in order to increase project transparency and collaboration between team members.

Read more