Yield management is a pricing strategy through which you can maximize your revenue. It is a famous variable pricing strategy that is primarily based on…
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an…
Production Planning – Definition, Objectives, Need, Types, Importance
Definition Production planning is defined as the planning of production models in an organization or an industry. To serve different customers, it makes use of…
Total Productive Maintenance – Definition, Meaning, Objectives
Definition Total productive maintenance is also popularly known as TPM and is defined as an approach towards equipment maintenance. Its objective is to attain one…
Mass Production – Definition, Meaning, Understanding, Advantages
Mass production is defined as a production method of standardized products in large quantities. Automation technology or assembly lines are often used in the manufacturing…
Difference Between Cycle Time And Lead Time – Cycle Time & Lead Time
Optimization of the production process is always on the mind of a manager. Lesser the production time of a product means more items can be…
Process Improvement: Meaning, Tips, Role, Steps, and Phases
When it comes to successfully running a business, we can say that it is not r an easy process for sure. However, with the help…
Process Control: Meaning, Objectives, Types, Importance, and Advantages
Process control is defined as an activity that ensures a process is steady, predictable, and constantly operating at the set level of performance with the…
Quality Circle: Meaning, Features, Objectives, Structure, and Techniques
Quality circle is a participant management method in which a team of employees works towards solving and defining a problem that is related to the…
Cycle Time: Meaning, Significance, Production Process and Formula
Cycle time can be defined as the total time required for completion of a job, task, or activity. In other words, cycle time can be…
Capacity Planning: Meaning, Strategies, Importance and Procedure
Capacity planning is defined as a method to gauge the production capacity needed to meet the changing product demands of an organization. Two terms of…
Operating Cycle: Meaning, & How to Reduce the Longer Operating Cycle?
Operating cycle is defined in terms of the average time an organization takes between spending money for operational activities and later collecting the amount of…
Operational Efficiency: Meaning, Examples, and 15 Tips
Operational efficiency is defined as the ability of a business entity to deliver products and services cost-effectively while ensuring its high quality. It is also…
Operational Plan: Meaning, Limitations, Types, and how to Develop one?
An operational plan is defined as a plan that is set in motion to establish, increase, and improve the daily operations of a business entity….
Continual Improvement: Meaning, Benefits, Disadvantages, & Applications
Continual improvement is defined as a process that includes ongoing and continuous effort to improve the standard of processes, services, or products. It is always…
