Forecasting with Examples
In today’s business scenario, different business decisions are aimed at satisfying various needs and desires of society by determining future demand. Also, there is a …
Economics
Operations Strategy with Examples
Introduction Organizations rely upon different strategies to achieve their business goals and survive in today’s competitive business environment. These strategies are planned for the long-term …
Competitive Priorities in Operations with Examples
Types of Competitive Priorities Competitive priorities are categorized broadly in the below categories: 1. Expertise in Product or Service Organizations can become the market leaders …
Location Strategies with Examples
Introduction Location is termed as a specific site where organizations set up their business or manufacturing plant and location planning includes selecting an optimum or …
Just-In-Time with Examples
Introduction Just-In-Time (IT) is considered inventory management and problem-solving approach used for the purpose of re-filling or scheduling material, labor, and goods in the manufacturing …
Economics: Definition, Types, Examples & Importance
Definition Types Economics can be studied under the two broad categories- Macroeconomics and Microeconomics. Let’s understand both the categories: Microeconomics This branch of economics deals …
Enterprise Risk Management with Examples
Introduction All organizations face risk while making different business decisions and do risk management to prevent risk. Risk management is considered an essential component of …
Operations Scheduling with Examples
Introduction In manufacturing or production, operations are considered processes performed on machines in order to obtain the desired output. In scheduling, work is assigned to …
Production Management with Examples
Production activities come under the core area or main activities of all types of organizations. Whether it’s a manufacturing concern or a service industry, all …
Forecasting Methods with Examples
The two main types and further sub-types of forecasting methods are as under: Qualitative Methods 1. Market Survey This is considered a direct and very …
Productivity With Examples
Productivity or System Productivity Productivity examines or measures the effective management of specified resources in order to obtain timely goals that are laid down in …