What is Business Analytics? Definition, Benefits, and Types
Business analytics is a statistical approach to solve real business problems and optimise operational performance by analysing and interpreting large datasets. The insights thus generated
Category: Business Management
What is Material Requirements Planning (MRP)?
What is MRP? Material requirements planning (MRP) is a system that calculates the materials needed to manufacture a product and meet consumer demand. Manufacturing companies
What Is Material Handling? | Meaning, Types And Principles
Definition: Material handling refers to the efficient movement and handling of materials from procurement and production to warehousing and dispatch. What Is Material Handling? Material handling
India’s Growing Defence Industry & Emerging Capabilities
India is fast emerging as a global defence superpower, and going through a transformative change in recent years. From being a defence importer to an
What are Overhead Costs? Definition & Meaning
A business has to spend money to make money, that’s how it works. In the business landscape, there is a term called overhead costs. It
What is a Periodic Inventory System and How Does It Work?
Inventory is an integral part of the business where all the goods and raw materials are stored to sell later to the consumers. A periodic
What is Operating Profit Ratio?
Every day businesses deal with numbers and ratios to measure performance in terms of finances, operations and efficiencies. One such measure to measure all these
What is FEFO Method? Definition and Example
FEFO Definition: FEFO stands for First-Expired, First-Out, a method for managing inventory where the items close to the expiry date are given a priority and
What is Operating Income?
Operating Income can be located in the income statement listed as the business’ mainstream revenue. It is the value that calculates the profit left after
What is Manufacturing Lead Time?
Manufacturing lead time is a concept well-known to all businesses. We know the importance of delivering the product on time, and customers remember the brands