Management science (MS) is the broad interdisciplinary study of problem solving and decision making in human organizations, with strong links to management, economics, business, engineering, management consulting, and other sciences. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to improve an organization's ability to enact rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems. Management sciences help businesses to achieve goals using various scientific methods.
Service management in the manufacturing context, is integrated into supply chain management as the intersection between the actual sales and the customer point of view. The aim of high performance service management is to optimize the service-intensive supply chains, which are usually more complex than the typical finished-goods supply chain. Most service-intensive supply chains require larger inventories and tighter integration with field service and third parties. They also must accommodate inconsistent and uncertain demand by establishing more advanced information and product flows. Moreover, all processes must be coordinated across numerous service locations with large numbers of parts and multiple levels in the supply chain.
In organizational studies, resource management is the efficient and effective development of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT) and natural resources.
Manufacturingresource planning is defined as a method for the effective planning of all resources of a manufacturing company. Ideally, it addresses operational planning in units, financial planning, and has a simulation capability to answer "what-if" questions and extension of closed-loop MRP.
Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in terms of meeting customer requirements. Operations management is primarily concerned with planning, organizing and supervising in the contexts of production, manufacturing or the provision of services. It is concerned with managing an entire production system which is the process that converts inputs into outputs, as an asset or delivers a product or services. Operations produce products, manage quality and creates service. Operation management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources. The operations function requires management of both the strategic and day-to-day production of goods and services.
The demand chain is that part of the value chain which drives demand.
Workforce planning is a continual process used to align the needs and priorities of the organization with those of its workforce to ensure it can meet its legislative, regulatory, service and production requirements and organizational objectives. Workforce planning enables evidence based workforce development strategies.
Employee scheduling software automates the process of creating and maintaining a schedule. Automating the scheduling of employees increases productivity and makes many secretarial and manual scheduling positions obsolete. Such software will usually track vacation time, sick time, compensation time, and alert when there are conflicts. As scheduling data is accumulated over time, it may be extracted for payroll or to analyze past activity. Although employee scheduling software may or may not make optimization decisions, it does manage and coordinate the tasks. Today's employee scheduling software often includes mobile applications. Mobile scheduling further increased scheduling productivity and eliminated inefficient scheduling steps.
Revenue management is the application of disciplined analytics that predict consumer behaviour at the micro-market levels and optimize product availability and price to maximize revenue growth. The primary aim of revenue management is selling the right product to the right customer at the right time for the right price and with the right pack. The essence of this discipline is in understanding customers' perception of product value and accurately aligning product prices, placement and availability with each customer segment.
Petrolsoft Corporation (1989–2000) was a supply chain management software company with a focus on the petroleum industry. Petrolsoft Corporation was founded at Stanford University in 1989 by Bill Miller and David Gamboa as Petrolsoft Software Group. It was later incorporated in 1992. Petrolsoft introduced demand-driven inventory management to the petroleum industry.
Inventory optimization is a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.
SolveIT Software Pty Ltd is a provider of advanced planning and scheduling enterprise software for supply and demand optimisation and predictive modelling. Based in Adelaide, South Australia, 70% of its turnover is generated from software deployed in the mining and bulk material handling sectors.
Trade Promotion Forecasting (TPF) is the process that attempts to discover multiple correlations between trade promotion characteristics and historic demand in order to provide accurate demand forecasting for future campaigns. The ability to distinguish the uplift or demand due to the impact of the trade promotion as opposed to baseline demand is fundamental to model promotion behavior. Model determination enables what-if analysis to evaluate different campaign scenarios with the goal of improving promotion effectiveness and ROI at the product-channel level by selecting the best scenario.
Demand modeling uses statistical methods and business intelligence inputs to generate accurate demand forecasts and effectively address demand variability. Demand modeling is becoming more important because forecasting and inventory management are being complicated by the increasing number of slow-moving items, the so-called “long-tail” of the product range, many of which have unpredictable demand patterns in which the typical “normal distribution” assumption used by traditional models is totally inadequate. In these scenarios, successfully managing forecasts and inventories requires advanced demand and inventory modeling technologies in order to reliably support high service levels.
A human resources management system (HRMS) or human resources information system (HRIS) is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payrolls, recruitment processes, benefits administration, and keeping track of attendance records. It ensures everyday human resources processes are manageable and easy to access. It merges human resources as a discipline and, in particular, its basic HR activities and processes with the information technology field, whereas the programming of data processing systems evolved into standardized routines and packages of enterprise resource planning (ERP) software. On the whole, these ERP systems have their origin from software that integrates information from different applications into one universal database. The linkage of its financial and human resource modules through one database is the most important distinction to the individually and proprietarily developed predecessors, which makes this software application both rigid and flexible.
ino ERP is an open-source php based Enterprise Resource Planning (ERP) application that can be used with MySQL, MariaDB or Oracle 12c database. The objective of inoERP is to provide a dynamic pull based system where the demand /supply changes frequently and traditional planning systems are incompetent to provide a good inventory turn.
