krkeerthi111

First In, Still Here (FISH) inventory is a method of inventory management that prioritizes using the oldest items in inventory before using newer items. This approach is in contrast to the First In, First Out (FIFO) approach, which uses the newest items in inventory first. The FISH inventory method can have a significant impact on the effectiveness and efficiency of inventory management and supply chain operations. Some of the key benefits of using the FISH approach include: Reduced waste: Using the oldest items in inventory first can help reduce waste by ensuring that items do not expire or become obsolete before they can be used. Improved inventory turnover: By using the oldest items first, FISH can help improve inventory turnover, which can help free up space and improve cash flow. Improved product quality: By using the oldest items first, FISH can help ensure that products are of the highest quality and have not been degraded or damaged over time. However, there are also some challenges associated with using the FISH inventory approach. Some of the key challenges include: Increased complexity: Managing inventory using the FISH method can be more complex than using the FIFO method, as it requires tracking the age of each item in inventory. Increased risk of stockouts: Using the oldest items first can increase the risk of stockouts, as it may not be possible to restock inventory quickly enough to meet demand. Increased risk of obsolescence: Using the oldest items first can increase the risk of obsolescence, as items may become obsolete before they can be used.

Competency mapping will do the based on individual strength and weakness. The intention is for better understanding of the team members. Also it will help the business to create a new opportunities. Basically its performed during TNA.

Thanks a lot

it’s a hierarchical one and misses several crucial aspects of knowledge and the new data and information and misses several crucial aspects of knowledge and the new data and information.

Hi All, I have some confusion. Pareto and Pie chart both are giving same details the only thing is design is different. Please clarify what is difference between Pareto chart and pie character except design.

Exactly both are different. Decades ago the industries only had QC as a department. This department was responsible for inspecting defects or errors in the “PRODUCT”. However this started costing a lot to the organisations on hiring inspectors, higher lead time etc. That is when the Quality Assurance emerged. Now this department is responsible for identifying deviations or errors in the “PROCESS”. So QA is a proactive activity where you prevent the defect from happening by attacking in the process itself. For example a leading mobile manufacturing company spending lot of time to identify the defects and they are correcting the defects on qc process. So they implement the qa to identity the root cause and based on root cause they idenfity that, there is deviation on process. So they fixed the process deviation and prevent the errors.