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The following terms are in everyday use in financial regions, such as commercial business and the management of large organisations such as corporations. Noun phrases [ edit ]
Business process re-engineering (launched by Michael Hammer in 1993 [34]): a business management strategy focusing on the analysis and design of workflows and business processes within an organization. BPR seeks to help companies radically restructure their organizations by focusing on the ground-up design of their business processes.
Business management tools are all the systems, applications, controls, calculating solutions, methodologies, etc. used by organizations to be able to cope with changing markets, ensure a competitive position in them and improve business performance.
Fleet Management is a function which allows companies which rely on transportation in business to remove or minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs, providing 100% compliance with government legislation (duty of care) and many more. These ...
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
An equipment manager is the person in charge of equipment used by a business or organization. Their duties include purchasing, maintenance, repair, inventory, transportation, storage, cleaning, and liquidation of equipment. They are responsible for providing the proper equipment for the job, either on-site or off-site.
Overall equipment effectiveness [1] (OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run. It identifies the percentage of manufacturing time that is truly productive.
Inventory management also involves risk which varies depending upon a firm's position in the distribution channel. Some typical measures of inventory exposure [definition needed] are width of commitment [definition needed], time of duration [definition needed] and depth [definition needed]. [20]