industrial engineering - EDUCATIONLEAVES

Management Information System (MIS): Learn Everything About MIS (PDF Included)

May 19, 2023 by Sushanta Maiti

A Management Information System (MIS) refers to a computer-based system that collects, processes, stores, and distribute information to support decision-making, coordination, control, analysis, and visualization within an organization. It is a crucial component of modern businesses and is designed to provide managers and other stakeholders with timely and relevant information for effective planning and decision-making.

What is Pricing? Types of Pricing Strategies, PDF

March 5, 2023March 5, 2023 by Sukanta Maiti

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.

Distribution Channel or Channel of Distribution [PDF Included] Definition, Types, Functions, Benefits, and Drawbacks

November 20, 2022November 20, 2022 by Sushanta Maiti

A route through which a product travels from the production end to the point of consumption is called a distribution channel.

What is Marketing Mix? [PDF Inside] or 4Ps of the Marketing Mix, 7 Ps of Marketing,

November 20, 2022November 17, 2022 by Sushanta Maiti

A marketing mix is a set of tools used to promote a product or service in the market. It is also known as the 4Ps (product, price, place, promotion) of a marketing strategy. Using these components, a business can maximize its profit and the chances of its product being recognized by customers.

Enterprise Resource Planning (ERP): [PDF Included] Types, Advantages, Disadvantages, Modules, Features

October 29, 2022August 11, 2022 by Sushanta Maiti

Enterprise Resource Planning (ERP) is a software-based process used by companies to manage and integrate core operations like finance, HR, supply chain, procurement, supply chain, services, manufacturing, etc.

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

August 4, 2022 by Sushanta Maiti

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.

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

August 23, 2022July 24, 2022 by Sushanta Maiti

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.

Asset VS Liability |Difference between Asset and Liability

December 23, 2024May 13, 2022 by Sushanta Maiti

Asset vs Liability: Any tangible or intangible economic resource that is owned or controlled by an individual, a company, a government or an economic entity for accounting purposes with an expectation to produce positive economic value and benefit in the future, is called an asset.

What is Kaizen? (PDF included) Definition, Principles, PDCA Cycle, 5S Framework, Advantages, Disadvantages, and Example.

February 15, 2022 by Sushanta Maiti

Kaizen is a method of creating continuous improvement based on the idea that small, ongoing, effective changes can reap significant improvements.

What is Asset Management? Definition, Asset Life Cycle, Types & Softwares

December 23, 2024January 18, 2022 by Sushanta Maiti

Asset management is a system that helps companies to keep a record of all their assets, such as instruments, machinery, and expenses. Keeping tabs on the assets helps streamline operations. The process also reduces the possibility of recording ghost assets, since all the assets are well accounted for.