by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Hub and Spoke Structure?Hub and spoke structure is an operational structure. The primary business center is the central hub. The spokes are lines of business or operations that extend out from the central hub. For example, an airline might center its...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Knowledge Process Outsourcing (KPO)?Knowledge process outsourcing (KPO) is a type of outsourcing in which a different company or subsidiary in the same organization (which may be based offshore to save on taxes or other resources) conducts knowledge and...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Assemble To Order?Assemble to order (ATO), also known as make to order or assemble to order, is a production model used by manufacturers where goods are produced from scratch when an order is made by a customer. The parts needed to produce a good are already...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Capacity?Capacity is the ability, based upon the need for resources (such pastime, people, systems, equipment, etc.) to carry out an objective (such as, serve customers, process information, or make products) to the extent required.What is Capacity...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Retail Inventory Method?The retail inventory method is an accounting method used in calculating the total inventory or merchandise held by a store. To determine the retail value of the merchandise of a business, the total retail value of the beginning...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Institute for Supply Management?The Institute for Supply Management (ISM) is an association that trains and educates individuals in the supply management profession. This institute is the oldest and largest supply management association in the world with...
