Product Design Principles: Standardization, Customization, and Quality
The Importance of Product Design
Product design is the process of creating and developing a new product that is useful, attractive, cost-effective, and satisfies customer needs.
- Customer Satisfaction: A good design ensures that the product is useful, comfortable, and attractive, which increases customer demand.
- Cost Reduction: Proper design helps in selecting suitable material and processes, which lower manufacturing cost without affecting quality.
- Market Competitiveness: Innovative and unique design
Facility Location, Layout and Lean Manufacturing Answers
Facility Location and Process Strategy Quiz Answers
Question 1
1. Which of the following statements is true?
Answer: c) The location of the facilities can be driven by innovation strategy.
Question 2
2. Why would a company change the location of its production facilities?
Answer: d) To react to changes in political or economic conditions.
Question 3
3. What is the right order of the following phases of the procedure to decide on a new location?
Answer: a) Preliminary analysis; Search for alternatives; Evaluation
Gratuity, Pension Tax Rules and Residential Status in India
Q. 4. Give a Detailed Note on the Following
(i) Gratuity
Gratuity is a monetary benefit paid by an employer to an employee in recognition of past service. It is generally paid at the time of retirement, resignation, death, or termination, provided the employee has completed a specified number of years of service.
The taxability of gratuity under Section 10(10) of the Income Tax Act depends on the type of employee:
A. Government Employees (Central / State / Local Authority)
- Gratuity received by a government
Workplace Health and Safety Committees and Law 16744
Decree 54: Joint Health and Safety Committees
Decree 54: To approve the regulations for the establishment and operation of joint committees on health and safety.
Article 1
In any company, task or working branch with more than 25 people, joint committees on health and safety must be organized.
Article 10 — Representative Requirements
Representatives of workers must meet these requirements:
- Be over 18 years of age
- Be literate
- Have at least 1 year of service
- Have completed a risk prevention course
Article
Management Information Systems (MIS), SDLC, DBMS & EIS
Management Information System (MIS)
An MIS is a computer-based system that provides managers with the tools to organize, evaluate, and efficiently manage departments within an organization. It transforms raw data (like daily sales numbers) into meaningful information (like a monthly trend report) so that managers can plan and control business operations.
Three Pillars of MIS
- Management: Refers to the people who use the system to make decisions (top, middle, and operational levels).
- Information: Refers
Project Cost Estimation Techniques Comparison
Project Cost Estimation Techniques
Analogous Estimating
You use this technique when limited project information is available. This technique does not provide a highly reliable estimation. The benefits of this technique are a quick result with less effort.
You estimate the cost of the project by comparing it with any similar project in the past. You will look into the organization’s historical records. Then, you will use your expert judgment to find your project’s cost estimate. If your organization
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