ey produce a low-volume, premium product used by those who race go-karts. In total, they produce d sell around 300 go-karts per year. They offer five different models, although some further astomization can be added upon request. They sell their products directly to the consumer, who can isit their small showroom at their manufacturing plant if they are in the area. However, the majority of go-kart orders are placed via their website or the phone, and are then shipped to the customer. Over the goods inventory is substantial, at any one time they have between 250-300 finished go-karts on hand. This is because they want to have an inventory of all five go-kart models on hand at any point in time, and they produce each model in a batch of 50 units at a time. They also have substantial work in process inventory, as well as raw materials inventory. A few years ago, they had a problem with a supplier of the wheels for their go-karts, causing production to cease for 2 weeks. After that, they started keeping years, SGK has ran into a number of problems. First is their inventory levels. Their finished
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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