Pareto

Quality Tools (Brain Storming, nominal group technique, pareto chart, fishbone diagram and process chart).

Brainstorming is an activity used to generate creative ideas. It can be done individually or as a group.Brainstorming should not be used for analysis or DECISION MAKING. Brainstorming combines an informal approach to problem-solving with lateral thinking, which is a method for developing new concepts to solve problems by looking at them in innovative ways. … Read more

Market Price

The Dance of Supply and Demand: Understanding Market Price Dynamics The market price of a good or service is a fundamental concept in economics, reflecting the dynamic interplay between supply and demand. It acts as a signal, guiding producers and consumers in their decision-making processes, ultimately determining the allocation of resources within an economy. This … Read more