Industrial engineering - EDUCATIONLEAVES

Three-Way Matching: Definition, Components, Objectives, Advantages & Disadvantages |PDF

December 23, 2024September 22, 2021 by Sushanta Maiti

Three-way matching of vendor invoices is an essential internal control process. Using this process, a company can bypass profit drains from making erroneous, duplicates, or fraudulent payments. It is a method for processing a vendor invoice to ensure that payment is complete and accurate. The primary objective of this process is to save businesses from overspending or paying for an item that they didn’t receive.

What is Forecasting? methods, process, PDF

April 9, 2022August 19, 2021 by Sukanta Maiti

Forecasting is a technique for making predictions of the direction of future trends based on the analysis of past and present data. Businesses use forecasting to determine how to allocate their budgets or plan for expected expenses for an upcoming period of time.

What is Sales Forecasting? | Sales Forecasting Method, Types, Importance, and Elements | Sales Forecasting PDF

May 10, 2023August 11, 2021 by Sushanta Maiti

s forecasting is an essential business practice. Sales forecasts allow business leaders to make wiser decisions about setting up goals, budgeting, hiring, and other things involving cash flow.

What is 5S methodology? History, benefits,PDF

October 2, 2021July 29, 2021 by Sukanta Maiti

5-S is a system for organizing spaces so work can be performed efficiently, effectively, and safely.

What is Inventory?

July 22, 2021July 22, 2021 by Sukanta Maiti

Inventory or stock is the term refers to the goods and materials that a business holds for the goal of resale, production or utilisation. In a manufacturing industry, inventory is not only the final goods manufactured and ready to sell, but also the raw materials used in manufacturing and the semi-finished goods in the warehouse or on the factory floor. … Read more

What is Total Productive Maintenance (TPM)? 8 pillar of Total productive Maintenance, PDF

July 17, 2021 by Sukanta Maiti

Total productive maintenance or TPM is the process of using machines, equipment, employees and supporting processes to maintain and improve the stability of production and the quality of systems.

What is Predictive maintenance? Process, Advantages and disadvantages, pdf

May 10, 2023July 6, 2021 by Sukanta Maiti

Predictive Maintenance (PdM) refers to the use of data-driven, proactive maintenance methods that analyze the condition of equipment and help to predict when maintenance should be performed.

What is Supply Chain Management (SCM)? – Working, Importance, example, PDF

June 26, 2021 by Sukanta Maiti

We can define supply chain management as “Design, planning, execution, control, and monitoring of supply chain activities to create net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally“. What is Supply Chain? A supply chain is a combined network of individuals, organizations, resources, activities, and technologies involved in the … Read more

What is Total Quality Management (PDF): Definition, Principles, Advantages, Disadvantages, & Implementation

May 22, 2024June 12, 2021 by Sushanta Maiti

The term ‘total’ defines the entire organisation—all parties, departments and functions are involved in quality management. The system refers to the managerial and technological approaches to obtain quality requirements and business objectives throughout an entire organisation.

What is Change Management (PDF inside): Types, Principles & Importance

May 23, 2024May 30, 2021 by Sushanta Maiti

Change management is the systematic approach which deals with the transition or transformation of different organisational objectives, processes, core values, or technologies.