Value creation is a business term. Company create value to facilitate the customers of goods or services and also for the owner of the business to raise profitability. Profitability of a company depends on three factors: (1) the value customers place on the company’s products; (2) the price that a company charges for its products; and (3) the costs of creating those products. When a company raise its products value, it can increase the product price to reflect the value or reduce the price
Production planning entails the organisation of an overall manufacturing process to manufacture the end product. In garment industry, different activities involved in production planning are designing the end product, determining the machinery required and capacity planning, plant layout and material handling , establishment of sequence of operations for a style and nature of the operations to be carried out and specification of certain production quantity and quality levels. Production planning
of Spenncon the emphasis is on volume uncertainty, behavioral uncertainty and asset specificity. Volume uncertainty is the "inability to accurately forecast the volume requirements in a relationship" (Geyskens et al 2006). This will end with the supplier experience unexpected production costs or excess capacity. Because of the cyclical nature of the industry we can conclude that Spenncon has high volume uncertainty. Spenncon's behavioral uncertainty is also high. This has to do with difficulties
need a new creation of machines that can work much faster than the current which often use injection moulding. This is important because the existing AM is not up to speed with the present technologies. The common classes of materials that additive manufacturing currently use are those of plastics and industrial metals like Nickel, Steel and Aluminum. These materials have not failed in providing the desired results, however, they have been marked with several demerits that include high cost of the
success is expensive. VARIOUS DEFINITIONS OF LOGISTICS MANAGEMENT Logistic management encompasses all materials flows management, from the inflow of purchased materials into works (i.e. materials planning of raw materials components and other products, transport of materials from suppliers to works, receiving and inspection and storage of materials) materials flow through manufacturing processes (i.e. materials issues and materials handling) and material (flow to customers (physical distribution
name itself says, Value Creation, is a simple term defined as increasing the company value product by working on its relational factors. There are many factors in the company which influence the value of the product and is directly proportional to the profits with proper marketing and sales etc. Practically when a business is earning profits then there is a value in the products developed. Value creation is dependent on various aspects like quality, innovation, type of product etc. Price and cost are
prospects in economic terms for large-scale firms. The idea behind robots and their uses has been a compilation of thoughts stewing in the minds of engineers and physicists from as early as the 1700. The first representations of these creations was in the textile production industry; i.e. Hargreaves’ spinning jenny around 1770 and Cropmton’s mule spinner that came around 1779. Once these ideas were put into action, the robot development seed was planted and its roots spread into the minds of many potential
utility that add value to a product or service are: form, time, place, and possession. Form utility is created by manufacturing activities, time and place utility
of learning models. The traditional learning curve, initially developed for airplane production, proved to be impractical for many other engineering processes since it implies that all units produced are of acceptable quality. Seeking a link between learning curve tools and quality control, many authors attempted to overcome these limitations and quantify learning through the quality performance of a production process. Fine (1986) was one of the first authors to link previous disjoint literature
economy, as it employs 70% of its workforce, accounts for 42% of Gross Domestic Product and 30% of export revenue (Encyclopaedia of the Nations » Africa » Cameroon). The country has rich soils and a good climate to promote the production of diverse products. Between 1990 and 2005, agricultural yields had improved considerably, leading to an increase in the agricultural gross domestic product by 4%. Its agricultural products include coffee, cocoa beans, oil seeds, banana, cassava, grains, livestock and