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Explain Line and Staff Organisation.
Line and Staff Organisation: When the industry grew in size and complicated, the line executives could not perform appropriately all other functions as R and D, planning, distribution, public relations and legal. It necessitated the employing of particular executives to assist line executives and they were identified as Staff as they were recruited to perform staff or specialist functions. The line executives keep supervisory authority and control over the work of their subordinates while the staff executives relieve the line executives of specific specialized work and advise them on matters referred to them. The given figure demonstrates the line and staff organization:-
Explain Inventory Procurement Cost and Inventory Carrying Cost. Inventory Procurement Cost and Inventory Carrying Cost: Inventory is a detailed list of such movable items which
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