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Rummler & Brache (1995) use a definition that clearly encompasses a focus on the

organization’s external customers, when stating that

”a business process is a series of steps designed to produce a product or service. Most

processes (…) are cross-functional, spanning the ‘white space’ between the boxes on

the organization chart. Some processes result in a product or service that is received by

an organization’s external customer. We call these primary processes. Other processes

produce products that are invisible to the external customer but essential to the effective

management of the business. We call these support processes.” Read the rest of this entry →

Project management is the discipline of planning, organizing, securing, managing, leading, and controlling resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables),^[1] undertaken to meet unique goals and objectives,^[2] typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations),^[3] which are repetitive, permanent, or semi-permanent functional activities to produce products or services. In practice, the management of these two systems is often quite different, and as such requires the development of distinct technical skills and management strategies.

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Many people are uncertain about the difference between a project and a program (also please refer to note on spelling conventions used on ICB.com).

Management consultants are regularly involved in supporting clients through periods of complex change and consequently clarity on the basic definitions of a project and a program, and the difference between a project and a program are important Read the rest of this entry →

Risk is real for any company or organization. Don’t kid yourself. Things happen when you least expect them to happen. Are YOU ready for the unimaginable, the unexpected, the unwanted? As an executive, have you put your head in the sand around risk? Do you pretend that all is well, and nothing will change? If so, it’s time to face reality: data gets lost, buildings burn, people resign. When any of these occur, your organization is at risk for malfunction, inefficiency, chronic struggle, revenue loss, and even total failure. Is this the path you want to go down? Read the rest of this entry →

Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.  Read the rest of this entry →

No customer or contractor wants its contract plagued by disputes.  Resolving disputes absorbs valuable resources, frequently sours the present contractual relationship and could affect future business relationships between the parties.  Ironically, some of the leading causes of disputes are the easiest to minimize through careful contract negotiation and administration.  Three of these are discussed below with simple, but often overlooked, precautions that can help to avoid them. Read the rest of this entry →

The make-or-buy decision is the act of making a strategic choice between

producing an item internally (in-house) or buying it externally (from an outside

supplier). The buy side of the decision also is referred to as outsourcing. Make-or-

buy decisions usually arise when a firm that has developed a product or part–or

significantly modified a product or part–is having trouble with current suppliers,

or has diminishing capacity or changing demand. Read the rest of this entry →

Contract is a binding agreement between two or more parties. Once signed, this agreement can be enforced by either a court of law or binding arbitration. Because legal contracts cannot be signed under duress, there is the “mirror image” standard of binding agreement. This simply means that each party must be as willing to sign the agreement as the other. The concept of “breach of contract” is recognized by state and federal laws and is a valid reason for litigation. Read the rest of this entry →

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(i) ethics in retailing

Manchester’s hosting of the International Co-operative and Mutual Insurance Federation’s biennial conference was a great success. But amidst the presentations from chief executives of some world’s largest life and non-life insurers, arguably the stand-out contribution came from Nigel Waite, a consultant with the Canford Centre for Customer Development. He has been a marketing director with Lloyds and Barclays and is honorary professor of marketing at Nottingham University. Read the rest of this entry →

Securing the retail store computing environment has never been more important, or more necessary, than it is today. Store technology is shifting from closed, proprietary systems to open, flexible systems that allow greater and more meaningful interaction with the customer, headquarters, and partners, as well as better control and understanding of store operations. This shift is evidenced by the introduction of retail store technologies such as wireless networking, store Internet access, multifunction point-of-sale (POS) devices, multi-channel selling, customer kiosks, handheld devices, Voice-over-IP (VOIP), remote frequency identifiers (RFIDs), and so on. Generally speaking, these technologies require more effort around security, due to the nature of the applications they introduce and the functionality they expose. Additionally, technology is providing lower cost operational alternatives, such as store-to-corporate network connectivity, that leverage public networks that expose retailers to additional security threats, such as cyber-attacks. Read the rest of this entry →

Inventory control (also known as inventory management) refers to the systems and strategies businesses use to ensure that they have adequate supplies of raw materials for production and finished goods for shipment to customers, while also minimizing their inventory carrying costs. Storing excess inventory is costly, because the space and financial resources invested in the goods can often be put to better use elsewhere. At the same time, however, inadequate inventory stores can result in costly production shutdowns or delays in filling customer orders. Inventory control systems help companies to find the delicate balance between too little and too much inventory. Read the rest of this entry →

Retail is the business of selling goods. The goods can be anything from food to clothes to books to toys but it is done from a fixed location – usually a shop.

Retailing is extremely important to everyone because without retailers we would not have access to everyday products that we need. Our lives would be very different if we could not ‘pop to the shop’ and buy virtually anything we could want.

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A.2 Developing the category strategy

Footfall: Retailers adopt this strategy when the category requires communicating the price awareness and promote frequent purchase. In this strategy retailer‟s focus will be on increasing the traffic to the retail store.

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To ensure sales, companies go to great lengths to make sure that their products are visible in stores and are presented in an appealing, ‘sellable’ way. This is called merchandising, which includes product packaging, placement, promotions and pricing to appeal to the target market. == Answer == One definition of Merchandising is a marketing practice in which the brand or image from one product or service is used to sell another. It is most prominently seen in connection with films, usually those in current release and with television shows oriented towards children.  Read the rest of this entry →

A retail merchandiser determines what products will end up on the shelves of which store. She may work at a high-end fashion boutique, in a toy store or in any other retail outlet, picking which items to display in the store and determining how much of an item the store should have on hand to meet demand. Read the rest of this entry →

Closed-circuit television (CCTV) is the use of video cameras to transmit a signal to a specific place, on a limited set of monitors.

It differs from broadcast television in that the signal is not openly transmitted, though it may employ point to point (P2P), point to multipoint, or mesh wireless links. Though almost all video cameras fit this definition, the term is most often applied to those used for surveillance in areas that may need monitoring such as banks, casinos, airports, military installations, and convenience stores. Videotelephony is seldom called “CCTV” but the use of video in distance education, where it is an important tool, is often so called.^[1][2] Read the rest of this entry →

The importance of information technology in retail stems from the importance of data. Data is nothing but information that aids decision making. The right data, in the right form to the right setoff people at the right time, is one of the greatest tools in the hands of the retailer. Information is always with reference to a particular time frame. Read the rest of this entry →

A supply chain is a network of retailers, distributors, transporters, storage facilities, andsuppliers that participate in the production, delivery, and sale of a product to the consumer. The supply chain is typically made up of multiple companies who coordinate activities to set themselves apart from the competition.

A supply chain has three key parts: Read the rest of this entry →

Definition of Supply Chain Management

If you go to a Supermarket and pick up a few items of the shelf from electronics and white goods or even clothes and look at the labels, chances are that you will find them having been manufactured in China or Mexico. The coffee pods you buy to use for your every day use comes from Africa. Computers have been shipped out of South American Factories and Soft furnishings on the shelves are from India and Hong Kong. Read the rest of this entry →

1. Web Design Tools: Design for the Web is one of the most significant areas that are emerging in the development of websites. Web design refers to the task of developing a Web page or the user interface of the Web page. The design of a Web page acts as a medium between people and information. The major intention of Web design is in the development of attractive Web pages that reside on Web servers. Web design tools concentrates more on the presentation of contents using hypertext, images, videos, and so on. Read the rest of this entry →

Browser components

Now let us learn the architecture of a Web browser with the help of reference architecture. This reference architecture is the basic architecture for Web browsers and helps you to easily understand the various components that exist in the Web browser. Read the rest of this entry →

Answer:  Technology Generation:

We will start our discussion with the meaning of technology generation.

Technology generation and development is often identical with the term “Research and Development (R&D)”. However, technology generation involves R&D efforts, while technology development involves further stages of translating R&D efforts into marketable products, processes and services. Basically, we can consider the R&D process as having four distinct stages as shown in figure Read the rest of this entry →

The following factors like non technical in nature, that must be consider while designing the electronic payment system for the retail company to automate the payment system:

Privacy. A user expects to trust in a secure system; just as the telephone is a safe and private medium free of wiretaps and hackers, electronic communication must merit equal trust. Read the rest of this entry →

Electronic Commerce Framework

A framework can be defined as a structure for supporting or attaching something else, particularly a support that is used as the foundation for something being created. Hence, an e-commerce framework comprises the set of infrastructure required for carrying out the e-commerce business. This set of infrastructure typically includes the network requirements and the different software applications that are for e-commerce. Read the rest of this entry →

Answer: –

Technology is derived from the Greek word “technologia” in which “techne” means craft and “logia” means saying. On the whole, technology means having the knowledge of making something.

The term ‘technology’ refers to knowledge, processes or products of technological activities, according to the context in which it is used, and the term management refers to the act of getting people together to achieve a specific goal. Management refers to the process of planning, organising, staffing, directing, and controlling the activities in an organisation.

Thus, we can say that management of technology/technology management includes the factor of technology in all the activities like planning, organising, resourcing and leading the organisation. 

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Web ERP has become a necessity for businessmen to be aware of their stock and inventory from anywhere, at anytime. Web ERP is an absolute web-based ERP system that requires only a web browser and PDF reader. It has now become an open source application and is offered as a free download. Read the rest of this entry →

6 Ans:

The evolution of warehouse management systems (WMS) is very similar to that of many other software solutions.  Initially a system to control movement and storage of materials within a warehouse, the role of WMS is expanding to including light manufacturing, transportation management, order management, and complete accounting systems.  To use the grandfather of operations-related software, MRP, as a comparison, material requirements planning (MRP) started as a system for planning raw material requirements in a manufacturing environment.  Soon MRP evolved into manufacturing resource planning (MRPII), which took the basic MRP system and added scheduling and capacity planning logic. Eventually MRPII evolved into enterprise resource planning (ERP),  Read the rest of this entry →

The achievement of outstanding performance demands delivery of quality products expeditiously and economically. Organisations simply cannot achieve excellence with unreliable equipment. The approach towards maintenance management has changed as a result of quick response manufacturing. Just-in-Time (JIT) reduction of work in process inventory and the elimination of wasteful manufacturing practices. Before breakdown in machine and idle time for repair was once an accepted practice. Times have changed. Today, when there is a break down in a machine, it can shut down the production line and the customer’s entire plant. The Preventive Maintenance (PM) module provides an integrated solution for supporting the operational needs of an enterprise-wide system. The Plant Maintenance module includes an entire family of product; covering all aspects of plant/equipment maintenance. It becomes vital to the achievement of process improvement. The major subsystems of a Plant Maintenance module are: Read the rest of this entry →

Ans:-

Assemble-to-Order (ATO)

A business production strategy where products ordered by customers are produced quickly and are customizable to a certain extent. The assemble-to-order (ATO) strategy requires that the basic parts for the product are already manufactured but not yet assembled. Once an order is received, the parts are assembled quickly and sent to the customer. Read the rest of this entry →

3Ans:

Here is the comparison between Commercial and Open Source ERP software systems. This study has been made considering different parameter. Study concludes commercial erp softwares are suitable only for big corporations and open source business software should be the choice of small and medium scale industries.Know what is open source ERP before proceeding with this study.  Read the rest of this entry →

2 Ans:

A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm.  Read the rest of this entry →

1Ans :

A flexible ERP system can bring consistency and profitability to your company. A flexible ERP system allows your business to respond rapidly to any changing condition – it lets your business provide any company department or employee with the data required to improve decision-making, regardless of whether data is needed from one or several systems.  Read the rest of this entry →

The primary market intermediaries are the merchant bankers, underwriters to issue and brokers to issues. The merchant bankers are the issue managers who bring the issues to the primary market investors. Issue management is a tedious job and is closely regulated by SEBI. In many countries, the regulators implement a licensing mechanism for issue management. Read the rest of this entry →

Treasury management is the process of planning, organising and managing the organisation’s holdings, trading’s, corporate bonds, currencies, financial futures, associated risks, options, derivatives, and payment systems. It handles all the financial matters including external and internal funds for business, complex strategies, and procedures of corporate finance to optimise interest and currency flows. It helps in planning and executing communication programmes to enhance investors’ confidence in the organisation. Read the rest of this entry →

Thus, they play a pivotal role as a financial intermediary in an economy.

Around banking system is, therefore, extremely essential for the development of a nation.

As in case of any other business, the soundness of the banking business can be analysed through the bank’s profit and loss account and its balance sheet Read the rest of this entry →

Financial intermediaries are those entities with “low-cost” money (banks, credit unions, savings & loan associations, mutual and pension funds and insurance companies) that act as providers of money (as loans or investments) to those needing funding. They have developed a sophisticated network to allow them to have these funds available and deliver them as quickly and efficiently as electronically possible. Read the rest of this entry →

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