What is Supply Chain Management? Supply Chain Management is a process ensuring a smooth flow of goods and information along the chain from the supplier/producers’ end to the customers’ end. The process is an integrated whole of various business functions including customer orders, distribution, logistics, and delivery of goods, alongside the flow of information pertaining
Types of Salespeople A salesperson acts as an ambassador of their company for the external world. Other people form an opinion of a company basis their interaction with the salespeople. Salespeople are usually diplomatic in their approach and have better interpersonal skills compared to others as they interact with a variety of people in diverse
What is Automation? Automation entered into operations management with computerization of operations in 1954 when the first computer was installed in General Electric Appliance Park. The purpose of automation through computerization was to decrease the amount of manual labor and costs involved in preparing salary and accounting statements. In the 1960s, with the help of
What is Process Design? Product-focused design is also known as a line flow production system. This type of processing system is used mostly in production departments that are organized according to the type of product or service being produced. Products or services usually flow along linear paths. A vital decision for an organization is to
What is Production Management? The set of interrelated management activities, which are involved in manufacturing certain products, is called Production Management. If the same concept is extended to services management, then the corresponding set of management activities is called Operations Management. The production and operations management is directly responsible for providing the product; its role
Commercial Banking in India At the time of Independence, India had a fairly well-developed banking system with more than 645 Banks having more than 4800 branch offices. These banks although developed could not conform to the social needs of society. These banks generally catered to the needs of industries and that too, big ones. (Other
Functions of Commercial Banks As shown in the figure, the functions of commercial banks can be broadly classified into three parts: Primary Functions of Commercial Banks The primary functions of commercial banks are also known as the ‘acid test’ functions of commercial banks. The following are the primary functions of a commercial bank: Accepting Deposits
Other things being the same, rates of interest also differ according to the term to maturity of the debt. The resulting is called the term structure of interest rates and the curve showing the relationship between yield and term to maturity is called the yield curve. Low short-term interest rates and high long-term rates indicate
Destruction of Credit Banks create credit by granting loans (i.e. by creating derivative deposits) to the public. Similarly, the banks can destroy by reducing loans. The extent of the destruction of credit depends upon the cash reserve ratio. The higher the cash-reserve ratio, the greater will be the destruction, of credit; the lower the cash-reserve
What is Barter System? The direct exchange of one commodity for another without the mediation of money is called barter. This system of exchanging goods for goods continued to prevail before the invention of money. Because of certain uses of the barter system, it still prevails in certain backward parts of India and other underdeveloped
