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Cast iron is a ferrous alloy that is made by re-melting pig iron in a capola furnace until it liquefies. The molten iron is poured into molds or casts to produce casting iron products of the required dimensions. Consisting of iron with more than 2% carbon, cast iron is a versatile metal that’s used in […]

There are two opposite types or schools of negotiation: integrative and distributive. Distributive Bargaining Basics It’s a one-time-only occurrence. Except for the deal itself, there is no real benefit in investing in the relationship. So, we are generally less concerned with how the other person perceives us or how the other person might view our […]

What is Fact Based Negotiation? Fact-based negotiation is the practice of focusing supplier negotiations on mutually beneficial data on cost structure rather than gamesmanship.

A should cost model is a documented calculation of an estimated price that you create by researching all material costs, labor costs, overhead costs, and profit margins that would apply to an item. Essentially, you are behaving as if you were responsible for manufacturing the item yourself. Application When buying a custom item that only […]

List of the 7 QC Tools Cause and Effect Diagram Control Chart Pareto Chart Check Sheet Histogram Scatter Diagram Stratification Cause and Effect Diagram Cause and Effect Diagram also known as Fishbone Diagram helps in identifying the potential causes of an effect or a problem. In addition to sorting ideas in respective categories, it also […]

Ductile cast iron is a type of cast iron that is melted with elements such as magnesium or cerium to cause the formation of free graphite nodules or spherulites. The name of ductile iron means that this form of cast iron has a certain degree of ductility. The key characteristic of this substance is the […]