Bills of Materials Used in Manufacturing, Operations and Delivery Bill of materials is required in the manufacturing business of a product or service and will consist of raw materials, parts, ingredients, components and also the amounts of each one. Every line in the BOM or bill of materials includes item number of the product, explanation, … Read more
Example of Business Analysis Tools and Techniques Free Business Analysis Tools and Techniques: We all know how important business analysis can be for any corporation. It helps us to track and analyze our business’s day to day processes. It then enables us to spot areas that need improvement to make our internal processes perform more … Read more
What is Business Model Generation Canvas? Business Model Generation Canvas: Gone are the days when we used to spend sleepless working for weeks to create a 50 page business plan to show to investors just to get funding. Business plans are still necessary but the way how we structure and present it have changed. If … Read more
Quick Overview of the Business Analysis Body of Knowledge Business Analysis Body of Knowledge: As a professional business analyst or someone who is interested to learn business analysis. The business analysis body of knowledge (BABOK) can give you the necessary skills you need. That will help in taking your business analyst knowledge to the next … Read more
Examples and Tools for Quality Improvement in Lean Manufacturing Processes and Organizations Quality Improvement Examples: Lean manufacturing is manufacturing concept which stresses the elimination of waste in any form. Costs which do not help the benefit of the product or service will be not economical within a lean manufacturing setting. Any time waste reduction is … Read more
3 Major Types of Manufacturing Costs Direct Materials Costs Cost of raw materials utilized in the production process is actually one of the most typical production costs businesses measure. You need to always try to deal with suppliers to obtain the best prices for direct materials, and you need to start quality control techniques to … Read more
Top Cost Accounting Practices Used in Profitable Service Companies Within very competitive marketplace, service providers tend to be frequently trying to control their costs and also improve productivity. Even though cost accounting has been initially designed in the production industry, they have proven valuable within the service business likewise. Cost accounting offers correct snapshot … Read more