Autobiography of a Corporate Slave

Heat Number is an identification coupon number that is stamped on a metal plate after it is removed from the ladle and rolled at a steel mill. Industry standards requires materials to be tested at the manufacturer's and the result to be submitted through a report, also called the Mill Sheet/ Mill Certificate/ or Mill Test Certificate. A Heat Number is a unique identification code that a technician stamps on a metal plate to provide information about it's origins.  Heat Number is the only way to trace a metal plate back to it's Mill Sheet, and therefore is a very important part of quality assurance and control. There may be three/ four or five segments in a Heat Number. 1) The first digit indicates which furnace is used to prepare the batch of molten metal.  2) The next two digits tells about the year of casting. 3) The next two/ three digits describes the number of casting that year by the furnace. (Batch No.) 4) Heat number can have more segments to provid...

Materials Management Materials Management is an approach for planning, organizing, controlling, all those activities, principally concerned with the flow of materials into an organisation. It is a business function of planning, purchasing, movement, storage and distribution of materials in an optimum way which help the organisation to minimize the various costs like inventory, purchasing, materials handling and distribution costs. 5 R's of Materials Management 1) Right Quality 2) Right Quantity 3) Right Price 4) Right Place 5) Right Time Key objectives of Materials Management To buy at lowest price, consistent with desired quality and service. To maintain high inventory turnover, by reducing excess storage and employing methods like JIT. To reduce inventory carrying costs and inventory losses occurring due to deterioration, obsolescence and pilferage. To maintain continuity of supply, preventing interruption of the flow of materials and servi...

Modified Distribution (MODI) Method The MODI method is another way of evaluating the initial solution of a transportation problem and finding a more optimal solution with much less iterations compared to the Stepping Stones method. It allows us to compute improvement indices much quickly for each unused square without drawing all of the closed paths. MODI provides new means of finding the unused route with the largest negative improvement index. Once the largest index is identified, we are required to trace only one closed path. We can then decide the maximum number of units that can be shipped along that unused route. We begin with an initial solution obtained by the Northwest Corner Rule. Transportation Matrix for Bengal Plumbing From \ To Warehouse E Warehouse F Warehouse G Factory Capacity Plant A 100 Rs.50 Rs.40 Rs.30 100 Plant B ...