Bank or brokerage house departments not directly involved in selling or trading. The back office sees to accounting records, compliance with government regulations, and communication between branches.
A dispatcher in the transportation industry is an organizer responsible for maintaining the route schedule and informing workers of their schedules and tasks. They play a crucial role in ensuring efficient operations and communication within transportation services.
Fixed Capital refers to the amount of an organization's capital that is invested in its fixed assets, such as buildings, machinery, and equipment, which are essential for ongoing operations and production.
The front office refers to the offices of the major executives within a company; it is the nucleus of the operational management center, often located near the entrance of the organization.
Line and staff organization delineates the organizational authority between management personnel (staff) with planning and direction responsibilities and operational personnel (line) with direct job performance responsibilities. The staff functions in an advisory capacity to the line function.
Line function refers to activities or roles that directly contribute to the primary output of an organization. In service organizations, line functions typically encompass areas like operations and sales.
A Management Information System (MIS) is a structured system providing comprehensive organizational information to management for decision making in areas such as control, operations, and planning. It relies heavily on a robust data management system, including a database that assists in accurate and rapid decision-making.
Plant and equipment, often referenced as property, plant, and equipment (PP&E), are long-term assets essential to manufacturing, production, and operations. It includes real estate, machinery, vehicles, and significant fixtures integral to the business.
Production refers to the processes and methods employed to transform inputs (like raw materials, labor, and machinery) into finished products or services. The volume of production can be quantified in units, direct labor hours, machine hours, or direct labor costs.
The planning, coordination, and controlling of an organization's resources to efficiently facilitate the production process, encompassing key issues such as location, labor, transportation costs, and production forecasting.
A section of an organization in which production is carried out, focusing on transforming raw materials into finished goods through various processes and workflows.
A queue is an organized list where elements are processed in a specific order, often used in both real-world scenarios like waiting lines and in computing contexts such as data structures and print jobs.
A superintendent is a person who has oversight and charge of a department in an organization, often serving as a senior manager to ensure efficient and effective operations.
A transaction is an external or internal event that causes a change affecting the operations or finances of an organization.
Turnaround time refers to the period required to complete a task or fulfill an order once it has been initiated.
The value chain is a series of processes involved in the production, distribution, and marketing of a good or service, each adding value for the consumer.
A form issued by a using department requesting the completion of specified work. It serves as a request for work to be completed by an issuing department.
