Just-in-time (JIT) is an inventory management approach in which goods are received from suppliers only as they are required. The main purpose of this strategy is to decrease inventory holding costs and increase inventory turnover.
Kanban is a framework that takes place under the Agile methodology. It was formed in the late 1940s by a Japanese engineer named Taiichi Ohno. The agile Kanban Framework concentrates on visualizing the whole project on boards in order to increase project transparency and collaboration between team members.
Accounts receivable (AR) is the balance of money due to a firm for goods or services provided, but not yet paid for by consumers. Accounts receivables are recorded on the balance sheet as a current asset.
Kaizen is a method of creating continuous improvement based on the idea that small, ongoing, effective changes can reap significant improvements.
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.
Roles of financial manager : A financial manager is a person who takes care of all the important financial functions of an organization. The person in charge should maintain farsightedness in order to ensure that the funds are utilized in the most efficient manner. His actions directly affect the profitability, growth, and goodwill of the firm.
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.
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.
Entrepreneurship is starting and developing a company, delivering something new to the market, or organizing the means of production superiorly.
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.
