Leveraging AI for improving efficacy of Supply chain & Strategic Management

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The global supply chain is filled with several variables that add to its complexity: government regulations, ever-changing customer demand, rising transportation costs, and international events such as pandemics. Any innovation that helps improve the supply chain’s efficiency can help increase your bottom-line profit. Artificial intelligence (AI) is one such innovation that helps optimize the supply chain by better forecasting customer preferences and cutting costs by automating some repetitive manual tasks. Businesses can leverage artificial intelligence (AI) to optimize their supply chain management by enhancing efficiency, visibility, accuracy, and decision-making across various supply chain processes. Here are several ways AI can be applied to achieve supply chain …

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Fiscal policies undertaken in Interim Budget

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Summary Fiscal policy tools are implemented through the annual budget, which outlines the government’s revenue and expenditure plans. India employs various tools of fiscal policy to achieve its economic objectives. While major policy announcements are not expected due to vote on account budget, but at the same time, Government strives to maintain the growth momentum achieved and will set the path ahead on a strong foot forward. Fiscal policy in India refers to the government’s use of taxation and public spending to influence the overall economy. It is a tool for economic management and involves government revenue and expenditure decisions to achieve specific economic objectives. Fiscal policy is employed alongside monetary policy (controlled by central banks) to achieve macroeconomic stability and promote economic growth. Objectives of fiscal policy in India The primary objectives of fiscal policy in India include: Tools of fiscal policy in India Fiscal policy tools are implemented through the annual budget, which outlines the government’s revenue and expenditure plans. India employs various tools of fiscal policy to achieve its economic objectives. These include: Government receipts Government receipts are the funds received by the government from …

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Usefulness of Cost Audit Annexures

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There are eight main annexures to cost audit report with their respective explanations. The annexures are: 1. General 2. Cost Accounting System 3. Process of Manufacture 4. Quantitative Details 5. Break- Up of Cost of Input Materials Imported during the Year 6. Power, Fuel and Utilities 7. Salaries and Wages 8. Repairs and Maintenance. Annexure # 1. General: The name and address of registered office of the company, and that of the Cost Auditor; Reference No. and date of the Government’s Cost Audit Order; …

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