Month: February 2022

This is the strategic use of resources to perform activities traditionally handled by international staff and their resources. An alternative definition is the buying in of components, sub – assemblers finished products and service from outside suppliers rather than supplying Read More …

Some firms make and buy critical nonstandard items to ensure that a reliable second source is available in case of difficulty with the supplier. Such a policy also provides data that are useful in reviewing internal production and management efficiency. Read More …

The Strategic issues “What kind of an organization do we want to be?” This issue is the first, and perhaps most critical, to be addressed. Pride or purely emotional reasoning plays a major part in many decisions. Pride in Self-sufficiency Read More …

Many chief executives consider the make-or-buy decision to be among the most critical and most difficult confronting their organizations. Not only are billions of dollars needlessly wasted if the wrong decision is made, but scarce management resources frequently are stretched Read More …

When ever published standards are available from outside sources the same can be applied. The frequency distribution of demand for each type and size of an item in terms of quantity of materials purchased/used /or products sold, would be an Read More …

The task force, responsible for standardization must follow procedure to get the items standardized. They should get all relevant facts from the concerned executive. They should develop standards which are easy to understand and to implement. There should be a Read More …