by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT Just-In-Case Inventory Management Just in case (JIC) is an inventory management strategy in which a company stores a large inventory to prevent running out of stock. It is most useful when a company...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT The Balanced Scorecard as a Performance Management System The Balanced Scorecard is a Performance Management system developed in the early 1990s by Robert Kaplan and David Norton. The Balanced...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is the Performance Prism? The Performance Prism (PP) is a further development of the Balanced Scorecard. Basically, unlike the balanced scorecard, it employs a stakeholder approach to developing...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is Quality Assurance? Quality assurance is a management system designed to provide confidence that a product or service meets expected quality standards. Said confidence is relevant to managers...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT Process Value Analysis Process Value Analysis (PVA) is the evaluation of a company process or procedure to determine whether it provides adequate value to the customers. The objective is to make...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT 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...
