by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Stress Testing?Stress testing refers to a computerized process of testing the ability of companies (primarily financial institutions) and investment portfolios to maintain a level of efficiency in unfavorable future financial or economic situations....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Uniform Bill of Lading?A uniform bill of lading refers to a contract or an agreement between two consenting parties which states how a property, goods, or cargo will be transported. The exporter and the carrier are the two parties involved in the contract....
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a SIPOC Diagram?SIPOC is an acronym for: S – suppliers I – inputs P – process O – outputs C – customers A SIPOC diagram is a tool used for the identification of all the elements of a business. It is commonly employed in six sigma...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Carriage of Goods by Sea Act?The Carriage of Goods by Sea Act, referred to as COGSA, is a U.S. based set of statutes that regulates the authority and duties of cargo shippers and ship-owners with regard to sea shipments made from and to the U.S. See 46...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Operations Management?Operations management concerns the management of business process for the efficient utilization of materials, equipment, technology, human resources, etc., within an organization It emphasizes on efficient conversion of materials and...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Backlog?A backlog refers to a pile-up or accumulation of work that is yet to be done. For example, a backlog could be an accumulation of unfilled sales orders. A services company may experience a backlog in the ability to carry out request orders in a...
