Whois & Analysis for stitchlabs.com

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.

It is concerned with managing the process that converts inputs (in the forms of raw materials, labor, and energy) into outputs (in the form of goods and/or services).

Operations management is concerned with managing the operations function in an organization.

Operations is one of the major functions in an organization along with marketing, finance and human resources.

The operations function requires management of both the strategic and day-to-day production of goods and services.

Inventory or stock means to the goods and materials that a business holds for the ultimate goals to have a purpose of resale (or repair).

A technology demonstration or Demonstrator model is a prototype, rough example or an otherwise incomplete version of a conceivable product or future system, put together as proof of concept with the primary purpose of showcasing the possible applications, feasibility, performance and method of an idea for a new technology.

They can be used as demonstrations to the investors, partners, journalists or even to potential customers in order to convince them of the viability of the chosen approach, or to test them on ordinary users.

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore.

In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.

In this case, money is the input that is gone in order to acquire the thing.

This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer.

Usually, the price also includes a mark-up for profit over the cost of production.

Commerce is the activity of buying and selling of goods and services, especially on a large scale.

The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country or internationally.