Strategic thinkingStrategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization. It can be done individually, as well as collaboratively among key people who can positively alter an organization's future.
Inventory controlInventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction.
Shelf lifeShelf life is the length of time that a commodity may be stored without becoming unfit for use, consumption, or sale. In other words, it might refer to whether a commodity should no longer be on a pantry shelf (unfit for use), or no longer on a supermarket shelf (unfit for sale, but not yet unfit for use). It applies to cosmetics, foods and beverages, medical devices, medicines, explosives, pharmaceutical drugs, chemicals, tyres, batteries, and many other perishable items.
HierarchyA hierarchy (from Greek: ἱεραρχία, from hierarkhes, 'president of sacred rites') is an arrangement of items (objects, names, values, categories, etc.) that are represented as being "above", "below", or "at the same level as" one another. Hierarchy is an important concept in a wide variety of fields, such as architecture, philosophy, design, mathematics, computer science, organizational theory, systems theory, systematic biology, and the social sciences (especially political science).
WarehouseA warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial parks on the outskirts of cities, towns, or villages. Warehouses usually have loading docks to load and unload goods from trucks. Sometimes warehouses are designed for the loading and unloading of goods directly from railways, airports, or seaports.
Strategic managementIn the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.
Sustainable livingSustainable living describes a lifestyle that attempts to reduce the use of Earth's natural resources by an individual or society. Its practitioners often attempt to reduce their ecological footprint (including their carbon footprint) by altering their home designs and methods of transportation, energy consumption and diet. Its proponents aim to conduct their lives in ways that are consistent with sustainability, naturally balanced, and respectful of humanity's symbiotic relationship with the Earth's natural ecology.
Sustainable productsSustainable products are those products that provide environmental, social and economic benefits while protecting public health and environment over their whole life cycle, from the extraction of raw materials until the final disposal. According to Belz, Frank-Martin., the definition of sustainable product has six characteristics: Customer satisfaction: any products or services that do not meet customer needs will not survive in the market in a long term.
Business-to-businessBusiness-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when: A business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e. providing raw material to the other company that will produce output. A business needs the services of another for operational reasons (e.g., a food manufacturer employing an accountancy firm to audit their finances).
Sustainable engineeringSustainable engineering is the process of designing or operating systems such that they use energy and resources sustainably, in other words, at a rate that does not compromise the natural environment, or the ability of future generations to meet their own needs.
