by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Project Initiation Phase? The project initiation phase might include the following major task: Identifying the business problem or opportunity Defining the Project, Comparing Options Forming a project, Appointing a project team, and Getting Approval of the...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Value Mapping? The Value Mapping method by Andrew Jack is a second generation Performance Management model.This model focuses on how performance measures are identified, integrated, communicated and acted upon.Value Mapping identifies the most important...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Vendor Managed Inventory (VMI)? Vendor Managed Inventory, also known as Continuous Replenishment and Supplier Managed Inventor, is an inventory management system where the vendor or distributor of the goods manages the inventory of those goods on behalf of the...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is Value Stream Mapping (VSM) or Value Stream Analysis? Value stream mapping is a method for analyzing the value delivery process in a business. More specifically, it is primarily used to create...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is the 5S Method of Business Process Management? The 5S Method is an approach to creating efficiency in workplace processes and activities. It is primarily used as part of business process...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is a Process Map? A process map is a depiction of the specific processes and activities within an organization. Generally, it is used to document how these activities and processes are...
