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Forecasting notes from production planning and control -MECHANICAL

Forecasting Definition and its Methods, FORECASTING INTRODUCTION The growing competition, frequent changes in customer's demand and the trend towards automation demand that decisions in business should not be based purely on guesses rather on a careful analysis of data concerning the future course of events. More time and attention should be given to the future than to the past, and the question 'what is likely to happen?' should take precedence over 'what has happened?' though no attempt to answer the first can be made without the facts and figures being available to answer the second. When estimates of future conditions are made on a systematic basis, the process is called forecasting and the figure or statement thus obtained is defined as forecast. In a world where future is not known with certainty, virtually every business and economic decision rests upon a forecast of future conditions. Forecasting aims at reducing the area of uncertainty that s...
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ME -PRODUCTION PLANNING AND CONTROL Notes-MECHANICAL

THIS BLOG IS ABOUT PRODUCTION PLANNING AND CONTROL. Production planning and control is a tool available to the management to achieve the stated objectives.Thus, a production system is encompassed by the four factors. i.e, quantity, quality, cost and time. Production planning starts with the analysis of the given data, i.e., demand for products, delivery schedule etc., and on the basis of the information available, a scheme of utilization of firms resources like machines, materials and men are worked out to obtain the target in the most economical way.Once the plan is prepared, then execution of plan is performed in line with the details given in the plan. Production control comes into action if there is any deviation between the actual and planned. The corrective action is taken so as to achieve the targets set as per plan by using control techniques. Thus  production planning and control can be defined  as the “direction and coordination of firms’ resources towar...
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What is Heat Transfer ? Thermodynamics? ,Heat and Temperature ? conduction ,convection ,radiation -MECHANICAL

Heat transfer / Heat v/s Temperature/Modes of Heat transfer ..... BASICS OF HEAT TRANSFER While teaching heat transfer ,one of the first questions students commonly ask is the difference between heat and temperature .Another common questions concerns the difference between the subjects of heat transfer and thermodynamics . Let me begin this unit by trying to address these two questions.also three modes of heat transfer ,conduction convection and radiation. What is Heat? Heat is a form of energy. It derives its origins at the molecular scale. Molecules of a  substance vibrate at their positions either fixed or not when energy is supplied to them. As  they vibrate they transfer their energy to the surrounding molecules causing them to vibrate as well.   What is Temperature? The temperature of a body is the measure of the amount of heat content possessed by it. It is measured in degree Celcius (°C) or Kelvin(°K). The temperature of a substance is...
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