Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
Many economists have argued that profit maximization has brought about many disparities among consumers and manufacturers. In case of perfect competition it may appear as a legitimate and a reward for efforts but in case of imperfect competition a firm’s prime objective should not be profit maximization. In olden times when there was not too […]
Any individual who strives hard to accomplish goals and objectives of a particular organization is called as employee. Employees are hired to perform specific duties as per their specialization, interest areas and previous experiences. Employees earn their salaries in exchange for their hard work, labour, knowledge and expertise. It is rightly said that the success […]
Increasing Importance of Culture in Corporate Decision Making The Indian Information Technology (IT) bellwether and the market leader in software services, Infosys, announced that it was appointing Salil Parekh as the CEO or the Chief Executive Officer following the resignation of Vishal Sikka, a few months ago. When the announcement was made, the company emphasized […]
In the previous few articles, we have studied how reinsurance contracts work. We now have a deep understanding of the type of relationship between the ceding insurance company as well as the reinsurer. We now know about the various types of clauses which are commonly included in the reinsurance contract as well as the financial […]
Harshad Mehta was the son of a peon. He was born in abject poverty and when he migrated to Mumbai, he had a mere Rs 40 i.e. less than $1 in his pocket. However, over the years Harshad Mehta rose meteorically to become one of the most influential and powerful brokers on the Bombay Stock […]
For an organization to have an effective and efficient manufacturing unit, it is important that special attention is given to facility layout.
Facility layout is an arrangement of different aspects of manufacturing in an appropriate manner as to achieve desired production results. Facility layout considers available space, final product, safety of users and facility and convenience of operations.
An effective facility layout ensures that there is a smooth and steady flow of production material, equipment and manpower at minimum cost.
Facility layout looks at physical allocation of space for economic activity in the plant. Therefore, main objective of the facility layout planning is to design effective workflow as to make equipment and workers more productive.
A model facility layout should be able to provide an ideal relationship between raw material, equipment, manpower and final product at minimal cost under safe and comfortable environment. An efficient and effective facility layout can cover following objectives:
An organization can achieve the above-mentioned objective by ensuring the following:
Facility layout designing and implementation is influenced by various factors. These factors vary from industry to industry but influence facility layout. These factors are as follows:
Principles which drive design of the facility layout need to take into the consideration objective of facility layout, factors influencing facility layout and constraints of facility layout. These principles are as follows:
There are three techniques of design layout, and they are as follows:
There are six types of facility layout, and they are as follows:
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