A process can be effective without being efficient.
The standard fixed-time-period model assumes that inventory is never counted but
determined by EOQ measures.
Hub-and-spoke systems combine the idea of consolidation and that of cross-docking.
Logistics is a term indicating transportation choices for goods produced internationally
but consumed domestically.
The objective of strategic capacity planning is to provide an approach for determining
the overall capacity level of labor-intensive resources.
The learning curve states that the more experience you have in a particular activity; the
less surprised you will be when something goes wrong.
By following a straddling strategy, firms can broaden their capabilities and effectively
compete with more focused firms in markets requiring low cost for success.
At the Mayo Clinic, SPARC is an acronym for ‘see, plan, act, refine, and communicate,”
in a clinical innovation lab that operates like a design shop.
Methods Time Management (MTM) and Most Work Measurement System (MOST) are
proprietary examples of predetermined motion-time data systems (PMTSs).
Britain’s Florence Nightingale’s approach, called “evidence-based medicine,” underlies
current approaches to medical practices.
Functional products include staples that people buy in a wide range of retail outlets,
such as grocery stores and gas stations.
General management consulting often recommends changes in attitudes and culture,
which are relatively easy for the client to attain.