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ABC Analysis/Pareto Analysis

ABC Analysis/Pareto Analysis Pareto analysis (sometimes referred to as the 80/20 rule and as ABC analysis) is a method of classifying items, events, or activities according to their relative importance. It is frequently used in inventory management where it is used to classify stock items into groups based on the total annual expenditure for, or total stockholding cost of, each item. Organisations can concentrate more detailed attention on the high value/important items. Pareto analysis is used to arrive at this prioritisation. Taking inventory as an example, the first step in the analysis is to identify those criteria which make a significant level of control important for any item. Two possible factors are the usage rate for an item and its unit value. Close control is more important for fast moving items with a high unit value. Conversely, for slow moving, low unit value items the cost of the stock control system may exceed the benefits to be gained and simple methods of con

Working Flow Chart of Method Study

Working Flow Chart of Method Study Method Study :  Method study is the process of subjecting work to systematic, critical scrutiny to make it more effective and/or more efficient. It is one of the keys to achieving productivity improvement. It was originally designed for the analysis and improvement of repetitive manual work but it can be used for all types of activity at all levels of an organization.  Method study  is essentially used for finding better ways of doing work. It is a technique for cost reduction.  The philosophy of method study is that 'there is always a better way of doing a job' and the tools of method study are designed to systematically arrive at this better way of doing a job.  Procedure Involved in Methods Study: The basic approach to method study consists of the following eight steps. The detailed procedure for conducting the method study is shown in Fig. Working flow chart of method study 1. SELECT  the work to be studied and def

Work Measurement in Textile Industry

Work Measurement in Textile Industry Work Measurement: Work measurement is the application of techniques designed to establish the time for an average worker to carry out a specified manufacturing task at a defined level of performance (to measure the time of a work for a worker). It is concerned with the length of time it takes to complete a work task assigned to a specific job . Work Measurement in Textile Industry Objectives of Work Measurement:  1. Work study:  Work measurement is needed when we do work study.  Work study  or research can help to develop a current working procedure.   2. Comparison of alternative method:  By doing comparison better method can be found.  Example:  We have two methods and two are good, but after calculating the time we can see that one is taking less time than that of other. In that case we can select the less time select one (job). 3. Worker appointment:  By counting or measuring the works of a worker we can select
Tools and Techniques of Industrial Engineering Used in Apparel Industry Concept of Industrial Engineering (IE): Industrial Engineering  (IE) is concerned with the design, Improvement, and installation of integrated system of men, material, and machines for the benefit of mankind .It draws upon specialized knowledge and skills in the mathematical and physical sciences together with the principles and methods of engineering analysis and design to specify, predict and evaluate the results to be obtained from such systems.  IE Tools of Industrial Engineering:  The main aim of tools are to improve the productivity of the organization by optimum utilization of organizations resources: men, materials, and machines. The major tools used in industrial engineering are:  Production planning and control. Inventory control. Job evaluation. Facilitates planning and material handling. System analysis. Linear programming. Simulation. Network analysis (PERT, CPM). Queuing models.

The Strategies View of Industrial Engineering and Its Discussion

The Strategies View of Industrial Engineering and Its Discussion Introduction:  Industrial engineering  (IE) is about choices. Other engineering disciplines apply  skills to very specific areas. IE gives you the opportunity to work in a variety of  businesses. The most distinctive aspect of industrial engineering is the flexibility  that it offers. Whether it’s shortening a roller coaster line, streamlining an  operating room, distributing products worldwide, or manufacturing superior  automobiles, all share the common goal of saving money and increasing  efficiencies.  The most distinctive aspect of industrial engineering is the flexibility it offers. Whether it’s shortening a rollercoaster line, streamlining an operating room, distributing products worldwide, or manufacturing superior automobiles, these challenges share the common goal of saving companies money and increasing efficiencies.  As companies adopt management philosophies of continuous productivity and quality imp