Virtual University of Pakistan Video Lectures, Handouts, PPT, Quizzes, Assignments & Papers
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QUALITY CONTROL – I
Breadth of Scope
- Raw Materials and Piece Parts Inspection.
- Vender Relation.
- Process Control.
- Motivation of Employees.
- Reliability
What is Quality?
Quality is Conformance to Given Requirement or Specifications on a Product or Service.
The term quality by itself does not necessarily mean high quality. It means uniformity, consistency and conformity to what user wants.
Two Aspects of Quality.
- Design Quality.
- Manufactured Quality.
Design Quality
- Design Quality Covers (materials, form, appearance, functions )
- When Reference is made to “high cost of quality” such Reference is Almost Associated with Design Quality.
Manufactured Quality
Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. It is a large branch of industry and of secondary production. Some industries, like semiconductor and steel manufacturers use the term fabrication.
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PROBLEMS FACED BY NEWLY ESTABLISHED COMPANY
This lecture will continue with the previous lecture problem and then chapter deals with the teething problem that a newly established company faces.
Cash Flow Analysis
If the projected sales associated financial requirements and available financial resources are known, the anticipated cash flow can easily be determined.
Cash Flow (Projected)
| Cash Flow and Financial Transactions | Period 1 | Period 2 |
| 1) Cash flow | ||
| Initial expense | ||
| Fixed investment | ||
| Operating expense | ||
| Total cash outflow | ||
| 2) Cash inflow | ||
| Cash sales | ||
| Account receivables | ||
| Total operating inflow | ||
| 3) Net cash flow (2-1) | ||
| 4) Desired minimum cash balance | ||
| 5) Total amount of funds required [3 (if negative + 4)] |
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