Asset management is a system that helps companies to keep a record of all their assets, such as instruments, machinery, and expenses. Keeping tabs on the assets helps streamline operations. The process also reduces the possibility of recording ghost assets, since all the assets are well accounted for.
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Operations management is an area of management involved in planning and conducting the process of production and redesigning business operations in the production of goods or services. It requires the responsibility of ensuring that business operations are efficient to use as few resources as needed and effective in satisfying customer requirements.
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Lean Six Sigma is a process improvement method planned to eliminate problems, remove waste and errors, and enhance working conditions to provide a better response to customers’ needs.
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We can define lean manufacturing as a production process based on an ideology of maximizing productivity while simultaneously minimizing waste within a manufacturing operation.
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financial management refers to the diplomatic planning, organizing, directing, and supervising of financial undertakings in an organization. It also comprises applying management principles to the financial resources of an organization, while also playing a significant part in economic or budgetary management.
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Crisis management is the approach of anticipating crises at the corporate level and planning how to deal with them effectively to prevent any threat to an organization.
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Strategic management is the process of planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its aims and objectives.
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Three-way matching of vendor invoices is an essential internal control process. Using this process, a company can bypass profit drains from making erroneous, duplicates, or fraudulent payments. It is a method for processing a vendor invoice to ensure that payment is complete and accurate. The primary objective of this process is to save businesses from overspending or paying for an item that they didn’t receive.
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Forecasting is a technique for making predictions of the direction of future trends based on the analysis of past and present data. Businesses use forecasting to determine how to allocate their budgets or plan for expected expenses for an upcoming period of time.
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s forecasting is an essential business practice. Sales forecasts allow business leaders to make wiser decisions about setting up goals, budgeting, hiring, and other things involving cash flow.
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