by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Acceptance Sampling?Acceptance Sampling is a method used in the industry for quality control. This method uses statistical sampling to inspect or test a random sample for determining whether the quality of a batch of product or service is acceptable or not....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Bill of Lading (B/L)?A bill of lading is a receipt that is issued when cargo is accepted for transportation. This receipt is issued to the shipper by a carrier or his agent to mark a contract for the carriage of goods. When taking delivery of the cargo at...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is A/B testing?A/B testing is a comparison method that is used to compare two versions of an app or webpage against each other to identify the version that performs best. The method is also known as “bucket testing” or “split...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Acceptance Criteria?Acceptance criteria is a set of pre-established requirements or standards that a project or product must meet. It comprises of sentences structured to encourage a definite accepted or rejected response which establish both practical and...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Acknowledgment Code (ACK)?Acknowledgment Code, or ACK, refers to a service that is offered by mail companies to inform the sender of a letter that the recipient has received the delivery. It is usually a form signed by the receiver and then delivered to the...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an ABC Analysis?ABC analysis is a system of inventory classification that separates products into different categories based on priority and value. This system enables managers to easily identify important data, so they can react to trends and make...
