In business, streamlining means to make a process more efficient and effective by simplifying tasks, bypassing unnecessary steps, and cutting waste. It is analogous to making water flow in a stream, smooth and with little resistance. More
An SLA is an agreement between a client and a service provider on the level of service that the provider must provide. However, the SLA isn’t usually a separate contract between the client and provider. Let’s say someone needs internet access in their new apartment so they sign a contract with an internet service provider. […] More
There are two definitions: In general, logistics is the detailed coordination of a complex operation (activity) involving many people, facilities, or supplies. In business, logistics is the commercial activity of transporting goods to customers. It involves things like transportation, inventory, packing, warehousing, etc. More
Benchmarking is the practice of comparing key performance metrics to industry standards. More
Generally, compliance means adhering to a rule, such as a policy, standard, or law. It becomes particularly important when it comes to dealing with clients you contract with. For example, if you go to a party with a client and they give you a small gift before you leave, should you keep it?
Why does a business need compliance? How does it help me to save money, grow a successful business, control business operations? In addition to providing a g…
Supply chain management includes all the processes that transform raw materials into final products. The raw materials are usually sourced from a number of different locations and then transported to a central manufacturing facility that creates the products. The finished products are then shipped to the point of sale/consumption.
The objective of supply chain management is to streamline a business’s supply-side activities to minimize production costs and maximize customer value to gain a competitive advantage in the marketplace.
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