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Operating Policies and Procedures

Information Flows

Jan 19, 2011

Forecasting

The business function that attempts to predict sales and use of products so they can be purchased or manufactured in appropriate quantities in advance. Source: http://www.apics.org/ (10th ed.)

Jan 19, 2011

Statistic Quality Control

See: Quality Programs

Jan 19, 2011

Demand Management

The function of recognizing all demands for goods and services to support the market place. It involves prioritizing demand when supply is lacking. Proper demand management facilitates the planning and…

Jan 19, 2011

Scheduling

Scheduling involves taking decisions regarding the allocation of available capacity or resources (equipment, labor and space) to jobs, activities, tasks or customers over time. Scheduling thus results in a time-phased…

Jan 19, 2011

Currency Conversions

Issues with currency conversion add complexity to the global sourcing process. The absence of fixed exchange rates can be a problem. Fluctuations in exchange rates can have a significant impact…

Jan 19, 2011

Promotions

One of the four P’s (product, price, place, and promotion) that constitute the set of tools used to direct the business offering to the customer. Promotion is the mechanism whereby…

Jan 19, 2011

Cost System Design

An intelligent cost system design is one that is simple while still providing managers with information they need to make decisions. As most manufacturing processes were labor intensive at the…

Jan 19, 2011

Order management

Order management involves the seamless integration of orders from multiple channels with inventory databases, data collection, order processing including credit card verification, fulfillment systems and returns across the entire fulfillment…

Jan 19, 2011

Cost Management

In terms of activity-based cost accounting, cost management involves control of activities to eliminate waste, improve cost drivers, and plan operations. This process should influence the organization’s strategy setting process.…

Jan 19, 2011

Operating Policies and Procedures

Definitive statements of what should be done in the business, and a formal organization and indexing of a firm’s procedures. They are usually outlined in manuals which are printed and…