Answer the following in brief (2 marks each)
What is quality?
Quality means that the products meet and exceed all requirements, standards and specifications. For example, certain industry products may need to meet specific standards and specifications for legal or medical reasons.
State, two essential features of scientific management.
- Higher Productivity: Increase in the rate of production by use of standardized tools, equipment’s, methods and training of the workers.
- Cost Reduction: Reduction in the cost of production is done by rational planning and regulation, and cost control techniques.
What is meant by productivity?
Productivity is commonly measured in output per worker or output per worker per hour. For a manufacturing company, a measure of productivity might be the number or value of the finished products each worker can produce within a given time.
State the difference between "feed-forward" and "feedback control".
- Feedback Control System : Feedback control system is basically a control system where the output depends on the generated feedback signal.
- Feed forward Control System : Feed forward control system is a system which passes the signal to some external load.
What is corrective maintenance?
Corrective maintenance (CM) involves the replacement or repair of equipment after it fails. CM tasks identify the failure (it may be an equipment component or equipment item) and rectify the failure so that the equipment can be reinstated and the facility production restored.
State an example of all-units multiple price discount
A multiple discount is defined as two or more discounts offered that can be combined to create a bigger discount.
What are the types of inventory?
Inventory is generally categorized as raw materials, work-in-progress, and finished goods.
- Raw materials are unprocessed materials used to produce a good. Examples of raw materials include: aluminium and steel for the manufacture of cars, flour for bakeries that produce bread, crude oil held by refineries
- Work-in-progress inventory is the partially finished goods waiting for completion and resale.
- Finished goods are products that go through the production process, and are completed and ready for sale.
What are the five objectives of an effective MIS?
These are some goals of an MIS :
- Capturing Data
- Processing Data
- Information Storage
- Information Retrieval
- Information Propagation
What is a break-even point?
The break-even point is the point at which total cost and total revenue are equal, meaning there is no loss or gain for your small business.
What is a control chart?
The control chart is a graph used to study how a process changes over time. Data are plotted in time order. A control chart always has a central line for the average, an upper line for the upper control limit, and a lower line for the lower control limit.
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