Category: material managment

Certificate of Incorporation

When all the formalities necessary for the formation of a company are complied with and the Registrar is satisfied, the company is entitled to be registered under the Act. The Registrar shall retain and...

Kinds of Companies

Kinds of Companies Note- Chartered Company and Statutory Company are always public companies. The classification of companies is done from the study facility point of view. This classification is appendedbelow: ● On the basis...

Definition of Consideration Economics

Definition of Consideration Economics In ordinary language, the term ‘consideration’ means anything given in exchange (specially the money) for procuring some other thing. Hence, it is so believed that the measurement of consideration is...

Ethics, Fair Treatment, and Justice

Ethics, Fair Treatment, and Justice Managing human resources often requires making decisions in which fairness plays a role. You hire one candidate and reject another, promote one and demote another, pay one more and...

Strategic Compensation Management

Strategic Compensation Management The strategic use of rewards to regulate behaviour and performance has led to the concept of compensation management’ or ‘reward systems’- terms, which belong in the HRM, rather than the Industrial...

Value analysis

What is value? In dealing with the technique of Value Analysis, it is important to understand the meaning of the term ‘value’ as used in this context. Value must not be confused with cost...

Material Handling

Materials Handling Many types of materials, viz., raw materials, purchased components, materials-in-process (i.e. semi-finished goods), finished goods, packaging materials, maintenance and repair supplies, scrap and waste and rejects or rework are used and handled...