How to Calculate Standard Minute (SM), Produce Minute (PM) & Input Minute (IM) in RMG Secctors
How to Calculate Standard Minute (SM), Produce Minute (PM) & Input Minute (IM) in RMG Secctors– SM is defined as the time which is allowed to perform a completed a Garments Product. Normally it is expressed in SMV. The full elaboration of SMV is Standard Minute Value. SMV term is commonly used in the garments industry. SM is also known as Standard Allocated Minute (SAM). For smooth and timely shipment an export order a exporter need to proper SMV set up in garments production floor.
Professional accountant (ICMAB, ICAB, ACCA) and Industrial Engineering (IE) are both debated by Standard Minute (SM), Produce Minute (PM), Standard Minute Value (SMV), Actual Minute (AM), Imput Minute (IM).
We need some basic information to calculate SMV, SM, PM, IM, AM. Here the below information are 09 (Nine) Line Woven Bottoms Garments Industry.
|Man Machine Ratio (MMR)||1.24:1|
|Total Man Machine Ratio (TMMR)||2.32:1|
|Available Standard Minute in Lac||348|
|Total Available Minute in Lac||556|
General formula of SMV is given below-
SMV= Basic time + Allowance
General formula of Produce Minute (PM) or Actual Minute (AM) isgiven below-
PM or AM= Man*Hours*60
General formula of Input Minute (IM) or Standard Minute (SM) isgiven below-
IM or SM= SM*Actual Production