Mathematics & Statistics

Mathematics & Statistics – Explore the world of maths with our comprehensive coverage of research and resources. Your one-stop resource for maths and statistics study. We offer comprehensive Mathematics & Statistics articles to help you improve your math and stats skills, including Operation Research, LPP, Inventory, Network Analysis, Graph Theory, Sequence, Set Theory, Mathematical Induction, Business Statistics, Data, Information, Measure of Central Tendency, Measure of Variations, Classification, Tabulation of data, Time Series, Index Numbers, etc.

Inventory

Just in Time (JIT) Inventory Management

Lata Agarwal

In JIT, a firm keeps only enough inventory on hand to meet immediate production needs. The JIT system reduces inventory carrying… […]

Aging Schedule of Inventories
Inventory

Aging Schedule of Inventories

Lata Agarwal

Managers can aware by monitoring the average age of inventory, what their pricing strategy should be. The average age of inventory… […]

Inventory turnover ratios
Inventory

Inventory Turnover Ratio in Business

Lata Agarwal

The Inventory Turnover Ratio is also known as stock velocity is normally calculated as “sales/average inventory” or “cost of… […]

VED Analysis
Inventory

VED Analysis

Lata Agarwal

VED Analysis: The VED analysis employed in inventory control is used generally for spare parts. It is an important, necessary and desirable analysis. The requirements and urgency of spare parts is different from that of […]

ABC analysis in Inventory
Inventory

A-B-C Analysis in Inventory Management

Lata Agarwal

A-B-C analysis helps to concentrate more efforts on category A since greatest monetary advantage will come by controlling… […]

Economic Order Quantity (EOQ)
Inventory

Economic Order Quantity (EOQ)

Lata Agarwal

Economic order quantity is the point at which inventory carrying costs are equal to order costs. EOQ is that order quantity or… […]

determination of safety stocks in inventory management
Inventory

Determination of Safety Stock in Inventory Management

Lata Agarwal

The stock-out can prove costly by affecting the smooth working of the concern. In order to protect against the stock out arising… […]

Determination of Stock Levels in Inventory Management
Inventory

Determination of Stock Levels in Inventory Management

Lata Agarwal

When the quantity of materials reaches a certain figure then fresh order is sent to get materials again. The order is sent before… […]

Tools and Techniques of Inventory Control Management
Inventory

Tools and Techniques of Inventory Control Management

Lata Agarwal

Inventory holds a significant amount of capital, if not the majority of a company’s capital. As a result, it is critical to control… […]

Why Inventory is Maintained
Inventory

Why Inventory is Maintained?

Lata Agarwal

Due to the absence of stock, the company may have to pay high prices because of piece-wise purchasing. Maintaining inventory… […]