How to Understand Sales Pattern in Retail Business?

It is difficult to make predictions, especially about the future. – NEILS BOHR, Danish physicist What is Sales Pattern? The sales pattern is a collection of data about the sale of a particular product or group of products in the business for a given period and displaying it graphically to understand it’s behavior. These sales… Read More

‘5 Whys Analysis’ a Step-by-Step Guide for Beginners

5Whys Analysis is one of the simple and best tools to identify the root causes of a problem.In this article, we will explore the detailed structure of 5 Whys Analysis, Pre-requisites, Correct usages and its Limitations.  What is the purpose of 5 Whys Analysis? Any problems can be addressed with corrections and corrective actions. While… Read More

MSMEs Major Weaknesses and Remedial Measures

Following are identified as the major weaknesses of Indian Micro, Small and Medium Enterprises  In efficient human factor Faulty and irregular supply of raw material Lacl of machinery and equipment  Absence of credit facilities Absence of Organized marketing facility Competition from Large Scale units and imported articles Old and Orthodox designs High degree of obsolescence… Read More