Why are learning curves important to study?
Expert Answer
Learning curves are important to study due to following reasons:
a. It helps to determine the work schedule so that the timelyprocurement are meet without creating any interruptions in theproduction.
b. Working capital requirements during planning process can bedetermined due to learning curve and while raising the funds.
c. Rework or rejection of the work can be minimized due to studyof learning curve.
d. Management control over the overall process can beimproved.
e. Instructing the workers is a timely process, due to learningcurves time required will be less.