Tag: Business Management

Business efficiency, Business Management

Business efficiency and productivity

Efficiency and productivity are the terms mostly used together but they have different meanings. Productivity is the quantitative measure of efficiency; efficiency can increase productivity. Productivity: the ratio of input and output Productivity focuses on the quantity of output; it is the rate at which goods are produced. It is defined as output per unit…

Business planning, planning cycle

What can happen within a planning cycle?

Identification of resources, role assignments, implementation of tasks and evaluation are important parts of the planning cycle.
It is an iterative process; organisations can reconsider or repeat any step to find the most suitable alternatives.

IBP, supply chain managemet

Adapting to the current business environment

The unfortunate COVID-19 outbreak has affected every aspect of our lives. Major economies around the world are under lockdown to prevent the spread, and every country is feeling the aftershocks of this global tragedy. Businesses providing essential goods and services are dealing with the surging demand and supply challenges while the businesses providing non-essential products…

Integrated Business Planning IBP explained

Integrated Business Planning (IBP)

IBP is best practice methodology within the manufacturing supply chain and business management and is all about managing the gap between the ‘Top-Down Business Strategic Target’ and the ‘Most Likely Bottom-Up Outcome’.