by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Demurrage?Demurrage is the charges paid by the charter to the vessel owner when there is a delay in the operation of loading or unloading the vessel. It is a penalty, charged for the delay or any other violation of the agreement signed between the two...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Dock Receipt?A dock receipt is a receipt issued by a shipping company as proof of receiving the goods for shipment. A dock receipt ensures the carrier is accountable for the safe custody of the good until it is delivered to the destination. The bill of...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Porter’s Value Chain? A value chain is a model that states what activities need to be performed to deliver the value proposition to a customer, client, or end user. The value chain of companies that manufacture goods follow several steps including: ...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Operational Analysis?The next part of the feasibility analysis is operational in nature. Operational analysis regards the initial analysis of what operational aspects are required to carry on the business. This is essential for determining the feasibility of a...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Operational Plan?Planning business operations involves converting strategic goals into tactics and processes for carrying out an activity. Specifically, the operations plan contains the physical activities that one must undertake (or arrange for others to...
