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Resources in general means, men, machines, materials and working capital. Constant and required amount of these materials help the projects to be completed at the earliest period of time. On the other hand Scarcity of these resources may hamper the project and cause delay in completion. Besides the availability of required resources, cost of such resources should also be given due consideration. Scarcity of resources may likely to be required high cost. For the speedy completion of the project, such scarce resource ought to have been paid high payment.
Time also plays an important role in hiking the project costs. Longer the duration of the project, higher is its cost. On the whole resource should be managed in such a way; the project should be completed within the shortest time at low cost.
There exist four major stages in scheduling resources and their effective management they are:
And resource leveling
Resource definition: It means the defining of various resources such as men, material and working capital that are needed for the successful completion of the project. There should be a smooth be unhindered flow of resources moreover resource manager should determine the unit's requirements of the different resources. In a nutshell, resource definition denotes the creation of resource profiles. These resource profiles will clearly indicate availability of units of resources for the project, at any given period time. This is not an easy task in the ca se of multi project situations. There will be parallel use of resources in such multi projects.
Resource Allocation: The next stage to resource definition is the resource allocation. Care must be taken to neither see that the resources are allocated in such a way that they should, be high nor low. Excessive allocation of resources of one activity may affect the other activity.
Resource Aggregation: It is also called resource loading. It is a table or chart that shows summation of resource allocate from period to period. Resource leveling is an easy task, if such resources are measured in terms of hours or days. This hourly or daily measurement would help us to know whether an activity has be completed in a shortest possible time with many different resources, or an activity is finished in the long period by utilizing fewer resources. In re source leveling, the techniques that are applied are network and CPM a limited resource consideration, the availability of resources is lesser than the requirement and that would cause the delay in successful completion of a project. Resource smoothing is a part of resource leveling. By resource smoothing, peaks and troughs are eliminated.
In this process, resource manager concentrates in having minimum slack, fixing smallest duration and having lowest identification number.
Computerised resource scheduling: From the days of industrialization to this day, resource scheduling and allocations have been done manually by hand. But the present d ay world is the computer world wherein computer is the pivot. Hence resource scheduling and allocation are done in the most efficient way by the computers. One can get the necessary data and required informations within a shortest possible time with much accuracy.
Advantages of resource scheduling: Resource schedule helps the business in many ways.
Completion of the project or an activity within the planned period becomes possible.
Delay in starting and ending the project can be avoided.
It provides required information for the preparation of budgets for the time phased work.
It enables the introduction of flexibility wherever necessary.
Project management by Dennis Lock - page 308
Supply chain management: Week 6 Q.1
The term "supply chain management denotes the management of supply of raw materials to work in process, to finished products and ultimately to consumers. In accordance to the definition of APICS Dictionary, it means, "design, planning, execution, control and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally".
Supply chain management is a traditional concept that deals with systematic, strategic co-ordination of various functions. In a nut shell supply chain management denotes management of set of organizations and such set of organizations are to be connected directly by either a downstream or upstream of products finances and services. In brief managing a supply chain is the supply chain management. (Minter et.at.)
Advantages of supply chain management
It helps in competing with the global markets
The concept of globalisation and the proliferation of multinational companies, development of joint ventures,
business alliances all contributed to the development of supply chain management. These factors were complemented with the concepts such as Just In Time, lean manufacturing" and "Agile manufacturing" practices. Technological changes together with dramatic fall in the costs of information and communication have made the supply chain management a popular strategic tool for the growth of the business and achievement of their objects.
Components of supply chain
When we term the word as supply chain it means the chain of different components that have been used in the business process to achieve a well defined objective and attain the maximum growth at all levels. Such different components are
1. Planning and control
2. Work structure
3. Organisation structure
4. Product flow facility structure
5. Information flow facility structure
6. Management methods
7. Power and leadership structure
8. Risk and reward structure
9. Culture and attitude structure
All these components should fit in such a way that the supply chain management should ensure the smooth flow of the activities from one component to another without having any hindrance and fricative. Moreover it should ensure the avoidance of wastages of time, men and material so as to supply 100 percentage quality products at the end.
supply chain management by John T. Mentzer
Essentials of supply chain management by Michael H. Hugos
2. Enterprise Resource Planning: Week 10 ,Q2
How does such a system impact on the business in term of infra structure as well work practices.
Enterprise resource planning is a term based on computer that helps in managing internal and external resources. Internal resources are all tangible assets, materials and human resources. The main objective of ERP is to facilitate the smooth and constant flow of information between various departments of the organisation internally and to have smooth and solid relationship with all stakeholders externally. ERP has a centralized data base and such centralized data base works as a common computing platform. It ensures uniformity in all business operations and creates an environment within the enterprise which is wide system oriented. Enterprise resource planning will have a centralized server. All communications would be done on local area network.
Enterprise resource planning is very much required in large organizations. The advantages of ERP are:
A particular software in ERP helps in accurate forecasting
It maintains inventory level at the maximum efficiency
It develops product designing
It concentrates on order tracking that is ERP sees through the fulfillment and execution of order from the initial stages.
The software of revenue cycle in ERP process the invoice through cash receipts.
A three way match has been developed, by which purchase orders, inventory receipts and costing are matched with one another perfectly
ERP also undertake by means of accounting software to track the revenues cost and profits
ERP consolidates the finance, marketing, and sales, human resource and manufacturing applications.
It controls the business process
It shortens the production lead time and delivery time
Ultimately the vision and mission of the enterprise are focused at healthy growth of the organisation that would play a beneficial role in the society.
Bidgoli, Hossein, (2004). The Internet Encyclopedia, Volume 1, John Wiley & Sons, Inc. p. 707
BI Business Intelligence Week 9.Q.3
Perform Detailed Functional Evaluation of Such System
Business intelligence is purely computer based. It analyses various business data such as sales revenue, costs and net income. It analyses the sales revenue, cost and net income on product wise, and department wise. The common functions of business intelligence are:
Online analytical processing
Managing business performance
Undertaking the analysis of prediction that is predicting the future course of business activities
Business intelligence techniques help the enterprise to take apt and correct decisions at suitable times. It is otherwise known as business support system.
Business intelligence techniques have been used to enhance the value of t he business. The technique that has been used for increasing the value of the business is (MARCKM)
M- Measurement - it helps in performance appraisal
A - Analytics - It builds quantitative process for the process. It accumulates as much of business knowledge by collecting informations from different sources. The functions of this particular division are
Business process modeling
R-Reporting - the functions that are performed under this division are:
Executive information system. It helps in developing strategic reporting system which in turn is greatly useful for the strategic management of the business.
C- Collaboration - It sets up a platform for different areas to collaborate in achieving the objective of the organization. The functions undertaken by this division are: (1) Data sharing (2) Electronic Data Interchange.
K-Knowledge Management - This term knowledge management denotes the management of knowledge that had been obtained through the practices and adaptation of strategies. Thorough and deep business knowledge of a person was to lead the business to the greatest height. Thus business intelligence techniques are used to achieve the overall growth of the business enterprises.