by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Taguchi Method of Quality Control?The Taguchi method, also referred to as robust design method or off-line quality control, refers to a quality product design or engineering technique comprised of statistical control methods usd to inform design,...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Obsolete Inventory?Inventory refers to the materials and goods that are a part of a firms stock, and are up for sale. Obsolete inventory, also known as excess inventory or dead inventory, is the inventory that remains unused when the product life cycle ends....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Bottleneck Principle?The bottleneck principle, or a bottleneck, occurs when a system of production such as facility, machine, or equipment is overwhelmed by production to the extent that it cannot meet demands for more production. When there is congestion...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Brisch Classification?Brisch is a coding or classification system used for inventory. It is based on numerical figures from 0 to 9 and usually has three blocks consisting of a total of six to eight digits. The blocks are separated by decimals and each block...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Bunker Adjustment Factor (BAF)?The Bunker Adjustment Factor (BAF) refers to a high-cost expense, payment, or surcharge to individuals shipping on ocean vessels. This is an additional charge to the base rate of ocean freight that reflects the costs of fuel...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Fair Basis Code, Booking Class, and Reference Number?A Booking class is an indicator of traveling class presented in a traveler’s fare code. A fare basis or fare code is an alphabetic letter or numbers (numeric codes) through which a fare type is...
