by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Open Platform and Closed Platform?In the world of software computing, an Open Platform is a software program that has provision for: open application programming interfaces (API), flexible scope to use the software for purposes other than as it was...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Office Of Export Licensing (OEL)?OEL (Office of Export Licensing) is responsible for issuing licenses to any organization that is exporting certain goods that require permission to be exported. International standards concerning importing and exporting...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an International Standard Book Number (ISBN)?The International Standard Book Number (ISBN) is a unique numeric identification code for published books. Affiliates of the International ISBN Agency sell ISBNs to publishers.How does an ISBN Work?Every edition and...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Ocean Bill Of Lading?An Ocean Bill of Lading (OBL), also known as a cargo receipt, is a contractual document used to evidence the transport goods to any overseas destination. The bill is issued to the shipper by the ocean carrier. The shipper must present...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Operational Efficiency?Operational Efficiency is the ratio of productive output to operational inputs. Restated, the degree of operational efficiency is determined by how much productive output results from the effort or resources invested in the operational...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Just In Time (JIT) Inventory System?Just-in-time inventory system (JIT) is an operations management strategy of ordering raw materials/goods, and receiving those raw materials/goods only as they are needed to keep the production process running to meet actual...
