AI and Automation in Procurement: Transforming Supply Chain Efficiency Introduction The integration of Artificial Intelligence (AI) and automation in procurement is revolutionizing the way businesses manage their […]

PPAP stands for “Production Part Approval Process.” It is a standardized procedure used in the automotive and other manufacturing industries to ensure that a supplier’s production process can consistently produce […]

FMEA stands for “Failure Modes and Effects Analysis.” It is a systematic and structured approach used in various industries to identify potential failures, their causes, and their potential effects on a process, […]

The Theory of Constraints (TOC) is a management philosophy and methodology developed by Eliyahu M. Goldratt in his book “The Goal,” published in 1984. It is a systematic approach to identifying and addressing the […]

Just-In-Time (JIT) is a manufacturing and inventory management philosophy that aims to produce and deliver goods or services at the exact moment they are needed in the production process or by the customer. The […]

ABC analysis, also known as Pareto analysis or the 80/20 rule, is a widely used inventory management technique that categorizes items based on their relative importance in terms of value or frequency of […]

Inventory management refers to the process of efficiently and effectively overseeing the acquisition, storage, tracking, and utilization (ASTU) of an organization’s goods or products. It involves maintaining the […]

Some of us avoid negotiation, some fear negotiation because they equate it with conflict. They consider it as a clash of the wills, they see it as a fight to the finish, where the biggest bully wins all the […]

Iron Ore

Magnetite (Fe3O4, 72.4% Fe)

Hematite (Fe2O3, 69.9% Fe)

Fed directly into iron-making blast furnaces.

Pig Iron

Iron ore is the raw material used to make pig iron,

An intermediate p […]

Forecasting Models – Forecasting models are one of the many tools businesses use to predict outcomes regarding sales, supply and demand, consumer behavior and more.

Four common types of forecasting […]

A few ways by which a vendor can be evaluated are listed below-

Categorical MethodWeighted point MethodCost Ratio Method

Vendor-ratingDownload

Difference between EN8 and MS material

EN8 has higher tensile strength than MS material and bit costly.

Difference between EN8 and EN8d material

EN8 is through-hardened medium carbon steel. It used to […]

1. Identify the inefficient processes/bottleneck in your organizations procurement cycle and work to remove them2. Rationalize your supply base. Some place you have to increase vendor; some places you have […]

Safety stock describe a level of extra stock that is maintained to mitigate risk of stock-outs. It acts as a buffer stock in case sales are greater than planned and/or the supplier take more time to deliver […]

Export Promotion Capital Goods (EPCG) scheme allows import of capital goods including spares for pre production, production and post production at zero duty subject to an export obligation of 6 times of duty […]

Procurement refers to the process of identifying, shortlisting, selecting, and acquiring, (ISSA) suitable goods or services from an outside source. Activities like contract management, receiving & storing, […]

FCL stands for full container load. In FCL shipping, our goods in the container don’t have to share space with shipments from other traders. We pay the total container price, whether or not your goods have o […]

China accounting for more than 30% of all global manufacturing share. Before starting to work with Chinese supplier it is most important to ensure that they are legitimate and will be able to produce and supply […]

8D – The 8 disciplines of problem solving – 8 steps to solve difficult, recurring or critical problems.

The eight disciplines (8D) model is a problem solving approach. The purpose of the 8D methodology is […]