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quality is the performance of the product as per the commitment made by producer to the customer it is the degree of excellence at an
the capacity of production systems as well as the nature of storage faculties considerably affects the inventory policy of an organization
the natures of the production process the product design and production planning and plant layout have signification affect on inventory
an efficient inventory control necessitates maintenance of proper inventory records because various inventory records contain information
setting different levels and recorder point just to avoid the chances of over and under investment as well as running short of an item
adequate and well organized warehouse facilities with went equipped proper handling facilities must be there it need not necessarily be
for proper inventory control standardization of materials and products as well as simplification of the production line is necessary
the inventory includes stocks of raw materials semi finished goods finished and components etc of several description in order to facilitate
1ensure timely availability of materials inventory control helps is preventing delays due to lack of materials by ensuring regular supply of
inventory control follows up to examine the work of inventory policy and effect changes as and when needed the policies depends on
this is the time gap between placement of an order and the time of actual supply the determination of lead time is a complicated matterit
the demand and supply can never be assessed exactly there is discrepancy between actual and estimated demand and supply quantities with
economic order size is that size of the order which gives maximum economy in purchasing any item of material the other terms used for
another important decision is maintaining inventory and determining the inventory level an inventory level is a quantitative limit which
inventory are the result to many interrelated decisions and policies within an organization these policies depends on company internal
stock out cost means the cost associated with not serving the customers stock outs imply shortages if the stock out is internal that is in the
also known as the loading cost or the storage cost carrying cost represents the cost that is associated with storing an item in inventory it
you should present a reflective review of the project as a whole you should make specific comments about how the project was managed what was done
you must present a complete hazop for one part of the process the hazop should be accompanied by a commentary explaining what decisions were made why
a detailed costing of the capital equipment based on individual costing for each unit operation and associated equipment this cost should be
a detailed commentary on the chemical and mechanical design of at least one process unit operation process design of other units should also be
cycle inventories are held for the reason that purchases are usually made in lots rather than the exact amount which may be needed at a point
the idea of the decoupling inventories is to decouple or disengage different parts of the production systems as we can observe easily
anticipation inventories are held for the reason that a future demand for the product is anticipated production of specialized times
buffer inventories are held to protect against the uncertainties of demand and supply an organizationgenerally knows the average demand for