Quality control (QC) and quality assurance (QA) are terms used interchangeably in the consumer goods industry.

Quality control is all about inspecting products to check if they meet the brand’s quality standards and specifications before they leave the factory. Quality control is focused on a particular point in time, typically towards the end o…[Read more]

Economic Order Quantity vs Economic Order Point

Economic order quantity (EOQ) is a formula that allows inventory managers to calculate their ideal order size. By comparing the cost of holding and selling goods with annual demand, businesses can determine the quantity they should order their materials in, and how frequently they should do this…[Read more]

Material management is the process of planning, organizing, directing and controlling the flow of materials within an organization. In the manufacturing field, material managers perform a vital role in purchasing, obtaining and maintaining raw materials to use in production processes.