Tips

How to Use the Theory of Constraints?

The Theory of Constraints is a method of process improvement that can be applied to manufacturing, supply chain, marketing, sales, finance, or any other area of business. This guide will give you the basic toolkits to get started with TOC.

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Statistical Process Control – A Manufacturer’s Guide

Statistical Process Control is a method of process and quality monitoring that uses a statistical approach in order to detect inconsistencies in production. It can be an invaluable tool when trying to ensure product conformance, enhance productivity, and reduce waste. You can also listen to this article:

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Shopify Inventory Management Basics for SMEs

Setting up a business in Shopify is an easy thing to do. Properly managing that business, however, takes work. Here are some techniques and apps for effective Shopify inventory management. You can also listen to this article:

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How to Calculate the Cost of Goods Manufactured (COGM)?

Calculating the Cost of Goods Manufactured is a good way to get an overview of production costs and how they relate to the bottom line of your business. It allows management to identify cash drains, to adjust prices, and to track the development of the business. You can also listen to this article:

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Bill of Materials (BOM) – An Essential Guide for Manufacturers

Regardless of the size of the manufacturing operation, a Bill of Materials (BOM) is vital for production. Companies across the globe utilize them as the guide and shopping list for their final product and as such, they are tied into manufacturing, maintenance, scheduling, purchasing, and other areas of the organization.

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What is Cycle Time in the Manufacturing Process?

Cycle time is often confused with throughput time and takt time, but it is nevertheless a separate manufacturing performance indicator used to measure the duration of specific production processes and to get vital insight into your production efficiency.

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What is Cost of Quality and How to Calculate It?

The Cost of Quality is the sum of the costs related to providing a quality product and the costs related to not providing a quality product. While an effective measure to identify cash drains, it can also be used to balance the price and quality relationship of your products.

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