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.

costs in Inventory
Inventory

Types of Inventory Costs

Lata Agarwal

There are mainly three types of Inventory costs : (i) Holding cost (ii) Shortage or stock-out cost (iii) Set-up cost … […]

Develop an Inventory Model, deterministic and probabilistic models in inventory
Inventory

How to Develop an Inventory Model

Lata Agarwal

The sequence of basic steps required for developing an inventory model may be organized as follows: Use ABC or VED classification which provides a basis for selective control of inventories through the formulation of suitable inventory… […]

Objectives of Inventory Management
Inventory

Objectives of Inventory Management

Lata Agarwal

To ensure continuous supply of materials spares and finished goods so that production should not suffer at any time and the customers… […]

Inventory, introduction and definition of inventory, objectives of inventory control
Inventory

Introduction of Inventory Management

Lata Agarwal

The purpose of inventory management is to keep the stocks in such a way that neither there is over-stocking nor under-stocking… […]

What is Inventory Decisions in Management
Inventory

What is Inventory Decisions in Management

Lata Agarwal

The decisions made for every item in the inventory are, How much amount of an item should be ordered when the inventory of that item is to… […]

Classification of Inventory control
Inventory

Classification of Inventory control

Lata Agarwal

The term inventory may be classified into two main categories. 1- Direct Inventories, 2- Indirect Inventories, … […]

Inventory, introduction and definition of inventory, objectives of inventory control
Inventory

Objectives of Inventory Control

Lata Agarwal

To protect against inflation since the prices of materials are constantly increasing. Thus it is important to invest in the inventories… […]

Inventory, introduction and definition of inventory, objectives of inventory control
Inventory

Introduction and Definition of Inventory

Lata Agarwal

In a broad sense, inventory may be defined as the stock of goods, commodities or other economic resources that are stored or reserved… […]

Examples of Network Diagram
Mathpedia

Example of Network Diagram

Lata Agarwal

Activity G has E and F as predecessor activities. This is possible only if nodes 6 and 6′ are one and the same. So, rename node 6′ as node 6. […]

Limitation or Disadvantages of PERT Technique
Mathpedia

Disadvantages or Limitations of PERT

Lata Agarwal

Because PERT is a time-focused method, completing projects or activities on time is very important. If this does not occur, a problem may arise. […]