Financial Management: Accounts Receivable & Inventory Control
Accounts Receivable Management
Accounts receivable refers to the money owed to a company by its customers for goods or services delivered. These are typically documented through invoices. This financial area provides the scope for credit-based operations.
Establishing a Billing Policy
- The company should send invoices and statements of accounts to customers the day after the period ends.
- Sales with large amounts should be billed immediately.
- Billing should be sent when processing the order, not delayed.
Data Reduction Techniques for Data Mining & ML
Understanding Data Reduction in Data Mining & Machine Learning
Data reduction is a crucial technique in data mining, designed to decrease the size of a dataset while preserving its most important information. This process is highly beneficial when datasets are too large for efficient processing or contain significant amounts of irrelevant or redundant data.
Key Data Reduction Techniques
Several distinct data reduction techniques are employed in data mining:
- Data Sampling: This technique involves
Essential Business and Technology Concepts Defined
Service Level Agreement (SLA)
Is a formal contract between
Adhocracy
Task force organization that
Agency Theory
The firm is viewed as a “nexus
Android
Is an open source operating
Apps
Small pieces of software that
Autonomic Computing
Is an industry-wide effort to develop
Benchmarking
Involves comparing the efficiency
Best Practices
Are usually identified by consulting
Blade Servers
Computers consisting of a circuit board
Business Ecosystem
Is another term for these loosely
BYOD
Is one aspect of the consumerization of
Read MoreMastering Project Management: Core Concepts and Processes
Defining a Project: Core Concepts and Lifecycle
A project is a temporary effort (because it has a definite beginning and ending) to create a product, service, or result. Projects are undertaken to fulfill objectives by producing deliverables.
- Objective: An outcome toward which work is directed, a strategic position to be produced, or a service to be performed.
- Deliverable: Any unique and verifiable product, service, or result to be produced to complete the project. Deliverables may be tangible or intangible.
Key Methodologies for Process and Quality Improvement
5S Methodology
Definition:
5S is a systematic method for organizing a workplace for efficiency and effectiveness by identifying and storing items, maintaining the area, and sustaining improvements.
The 5S Steps:
- Seiri (Sort) – Remove unnecessary items from the workplace.
- Seiton (Set in Order) – Arrange tools and materials in order.
- Seiso (Shine) – Clean the workplace regularly.
- Seiketsu (Standardize) – Set standards for a clean and organized workplace.
- Shitsuke (Sustain) – Maintain and review
Systems Engineering and Soft Systems Methodology: A Comprehensive Approach
Jenkins Systems Engineering Methodology
Objectives of Systems Engineering
A system is defined as a complex grouping of people and machines with a defined objective. Systems Engineering is not a new discipline; it’s rooted in industrial engineering practice. However, it emphasizes overall system performance, as opposed to individual component performance. A key feature is the development of quantitative models to optimize system performance.
In Systems Engineering, “Engineering” refers to designing,
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