Supply chain resilience pertains to a supply chain’s capacity to recover from disruptions, such as natural disasters, economic downturns, or supplier failures, while maintaining its essential functions and delivering products or services to customers.
Scrum is a popular project management framework that helps teams work together more effectively by following its three pillars: transparency, inspection, and adaptation.
The PESTLE analysis, also known as the PEST or PESTEL analysis, is a marketing framework utilized in enterprise risk management and strategic planning procedures.
Open innovation is a concept that involves collaborating with external partners, such as customers, suppliers, and other organizations, to generate new ideas and bring innovative products or services to the market.
Lean manufacturing is a practice that maximizes productivity while minimizing wasteful activities within a manufacturing operation.
The word “kanban” is a Japanese term that means “sign” or “visual board.” In business, Kanban is a popular project management technique that advocates using visual cues to help teams track the progress of their work.
Industry 4.0 refers to the revolution that transforms manufacturing, design, and operations by combining digital and physical technologies.
An impact effort matrix, also known as an action priority matrix, is a decision-making tool used in project management to help prioritize tasks based on their level of impact and effort required.
Hoshin Planning Process is a method businesses can use to set and achieve strategic objectives. The goal of the process is to develop a shared vision and set of goals that can guide the organization’s decision-making.
The First In, First Out (FIFO) inventory management method is a system wherein the inventory brought into the storage area is also the first to be sold or used.