Quality Assurance (QA) ensures that proper processes and standards are in place to prevent defects during production.

While,

Quality Control (QC) focuses on identifying and correcting defects in the final product to ensure it meets quality specifications.

Quality Assurance (QA) vs. Quality Control (QC) -…

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What is Quality?
“It refers to the degree of excellence or superiority of something, often concerning its intended purpose or function. Further, it is a measure of how well something meets its specifications or requirements, and how well it satisfies the needs and expectations of its users or stakeholders.”

Understanding the Concept…

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Economic Order Quantity (EOQ)
– used to determine the quantity of supplies to order one at a time. The EOQ model is applied when the inventory item is ordered from a third party, thus the company itself is not producting the item under consideration.

however,

Economic Order Point (EOP)
– is simply the optimal point in which inventory should be…[Read more]

“Materials management involves the sourcing, procurement, storage and utilisation of direct or indirect materials (see below) used in the manufacturing process. By strictly managing this area of activities, organisations are able to ensure that they always have their required supply of materials delivered to the right place, at the right time, in…[Read more]