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Explain the terms - maintenance and improvement
Maintenance; under the maintenance function, the management must first establish policies rules directives and standard operating procedures (SOPs)and then work towards ensuring that everybody follows sop the latter is achieved through a combination of discipline and human resource development measures.
Improvement: under the improvement function management works continuously towards revising the current standers once they have been mastered and establishing higher once improvement cab be broken down between innovation and kaizen. Innovation involves a deasic improvement in the existing process and requires large investments. Kaizen signifies small improvement as a result of coordinated continuous efforts by all employees.
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SENSITIVITY ANALYSIS OF EOQ MODEL Sensitivity Analysis is regarded with the manner in which those results of solutions change in response to change in model parameters.
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Adm2341 manufactures and sells four different products. The following data are extracted from the most recent financial statements: Products
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