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Explain Performance Appraisal.
It is a systematic and impartial assessment of an employee's performance on the assigned job, along with a view to discovering how well or worse is the job being performed through her/him and also unearthing her/his potential for further development. It is concerned with measuring differences among particulars as far as their job-performances are relates. The methods used in performance appraisal of workers are ranking method, Graphic Rating Scale, Paired Comparison Technique, Forced Distribution Method, and Checklist Method, Critical Incident method, Forced choice-Description Method and Field-Review Method and Confidential Report Method.
A large supplier of electronic components has decided to control the inventory of a certain item by a periodic review, order up to R policy. The mean demand rate for this item is 5
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