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CIFMS
Continuous Improvement and Focused Monitoring System is a process management and quality management concept, which offers companies "quick wins" benefits, which enable them to produce high quality products with shorter lead-time. A CIFMS is not a general software application that can be readily used for any given manufacturing company, it is a uniquely designed system specifically tailored to a given company guided by a method. Therefore the most crucial process in developing and implementing an efficient CIFMS is selecting a design method which brings forth a multi-criteria decision analysis Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings ... (MCDM) problem with varied degrees of interdependencies among the decision components.NB : the MCDM problem can be formulated so as to minimize ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process Management (computing)
A process is a program in execution, and an integral part of any modern-day operating system (OS). The OS must allocate resources to processes, enable processes to share and exchange information, protect the resources of each process from other processes and enable synchronization among processes. To meet these requirements, the OS must maintain a data structure for each process, which describes the state and resource ownership of that process, and which enables the OS to exert control over each process. Multiprogramming In any modern operating system there can be more than one instance of a program loaded in memory at the same time. For example, more than one user could be executing the same program, each user having separate copies of the program loaded into memory. With some programs, it is possible to have one copy loaded into memory, while several users have shared access to it so that they each can execute the same program-code. Such a program is said to be re-entrant. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-criteria Decision Analysis
Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). Conflicting criteria are typical in evaluating options: cost or price is usually one of the main criteria, and some measure of quality is typically another criterion, easily in conflict with the cost. In purchasing a car, cost, comfort, safety, and fuel economy may be some of the main criteria we consider – it is unusual that the cheapest car is the most comfortable and the safest one. In portfolio management, managers are interested in getting high returns while simultaneously reducing risks; however, the stocks that have the potential of bringing high returns typically carry high risk of losing money. In a service industry, customer satisfaction and the cost of providing service are fundamen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder (corporate)
In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR). The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholders model" or a false analogy of the obligations towards shareholders and other interested parties. Types Any action taken by any organization or any group might affect those people who are linked with them in the private sector. For examples these are parents, children, customers, owners, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
