What is Research and Development (R&D)?

For a new business initiative it is essential to recognize the development stages through which the enterprise is likely to pass, and prepare for the issues and challenges which will be faced. For a business unit within a corporate it is important to recognize that the same development process applies — often with the same challenges! However, these challenges are sometimes eased by the protection of an established corporate parent able to soften the impact of negative cash flow and poor profitability at the relevant stages. Creativity becomes the responsibility of Research and Development (R&D), which is staffed by specialists in visualizing and realizing marginal or major product changes. Ever since companies such as Dupont and Bell Labs first took, and successfully traveled along, this road, setting up a separate R&D group has been a popular way to enhance value at the concept stage. There are many ways of distinguishing Continue reading

Elements of a System

The word System is derived from Greek word Systema, which means an organized relationship between any set of components to achieve some common cause or objective. A system is an orderly grouping of interdependent components linked together according to a plan to achieve a specific goal. Systems are often complex, with many parts working together to achieve the common goal. In order to understand how a system works, it is often necessary to study its individual components and how they interact. Elements of a System The important elements of a system are; Output and Inputs Processor(s) Control Feedback Environment Boundaries and Interface 1. Outputs and Inputs A major objective of a system is to produce an output that has value to its user. Whatever the nature of the output, it must be within the line with the explanations of the intended user. Inputs are the elements that enter the system Continue reading

Job Production – Meaning, Characteristics and Importance

Job production is characterized by the manufacture of one or few numbers of a single product designed and manufactured strictly to customer’s specifications, within, the given period and wit/tin the price fixed prior to tile contract. Some typical examples of industries engaged in jobbing production are: general repair shops; special purpose machine tool manufacturers; workshops to manufacture jigs and fixtures for other units; building contractors; tailoring shops manufacturing made-to-measure suite of clothes; manufacturers of ships, cranes, furnaces, turbo-generators, pressure vessels; and others manufacturing articles made to customers orders. Characteristics of Job Production Job production plays a crucial role in meeting the demands of customers who seek personalized, high quality products that cannot be mass produced. By focusing on customization and attention to detail, businesses engaged in job production can differentiate themselves in the market and cater to niche markets that value exclusivity and uniqueness. Job production also allows for greater Continue reading

Dispatch Function in Production Management

Meaning of Dispatch Function Dispatch function in production management executes planning function. It is concerned with getting the work started. Dispatching ensures that the plans are properly implemented. Dispatching is the physical handing over of a manufacturing order to the operating facility (a worker) through the release of orders and instructions in accordance with a previously developed plan of activity (time and sequence) established by the scheduling section of the production planning and control department. Dispatcher transmits orders to   the various shops. Dispatch function determines, by whom the job shall be done and it co-ordinates production. It is the key point of a production communications system. It creates a direct link between production and sales. A dispatcher is familiar with the productive capacity of each equipment. He always keeps an eye over the progress of orders which move at different speeds on different routes. Dispatch Procedure The product is Continue reading

Green and Sustainable Supply Chain Management

Environmental changes across the world have generated a movement to identify the causes of global warming and develop solutions to end it before it is too late. In an effort to achive this, many countries are creating laws and regulations with the specific aim to reduce carbon emissions and greenhouse gas effect. The truth is that environmental change is upon us. Not only do we have climate problems but we are also dealing with a resource depletion issue. With economies like India and China growing at near double digit rates, the population of the world continues to grow creating shortages of many resources that we use to take for granted. Many consumers, stakeholders and businesses are becoming more involved in the growing green movement. Influenced by customer loyalty shifting towards environmentally friendly products, businesses are trying more and more to make their supply chains greener by introducing sustainability strategies throughout Continue reading

Case Study: Hospital Management System (HMS)

XO Hospital Management System XO Infotech Ltd. has developed a core package — Hospital Management System that addresses all major functional areas of Hospital. The development environment ensures that XO HMS has the portability and connectivity to run on virtually all standard hardware platforms, with stringent data security and easy recovery in case of a system failure. XO HMS provides the benefits of streamlined operations, enhanced administration and control, improved response to patient care, cost control, and increased profitability. Some of the Subsystem Modules in XO HMS: Reception: The reception module handles various enquiries about the patient’s admission and discharge details, bed census, and the patient’s movements within the hospital. The system can also handle fixed-cost package deals for patients as well as Doctor Consultation and Scheduling, Doctor Consultancy Fees and Time Allocation. OPD, IPD Registration and Admission: This module helps in registering information about patients and handling both IPD Continue reading