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or are in some stage of the transformation course of. At McDonald’s, a cooking hamburger represents work-in-process inventory as a result of it should undergo several extra phases earlier than it can be bought to a customer. Raw materials stock consists of all the supplies which have been purchased to be used as inputs for making other merchandise. Nuts and bolts are raw supplies for an car producer, whereas hamburger patties, greens, and buns are uncooked supplies for the fast-food restaurant. Our fictional Rushing Water Canoes has a listing of supplies for making canoes, paddles, and helmets, in addition to its inventory of finished merchandise on the market to customers. Inventory management is the process of figuring out how many supplies and goods are needed and keeping monitor of portions readily available, where each merchandise is, and who is responsible for it. Operations administration should be closely coordinated with inventory management. The production of televisions, for instance, can’t be deliberate with out some data of the supply of all the necessary materials—the chassis, image tubes, color weapons, and so forth. Also, each item held in inventory—any kind of inventory—carries with it a value. For instance, storing totally assembled televisions in a warehouse to promote to a supplier at a future date requires not only using area, but additionally the purchase of insurance coverage to cover any losses that might happen due to fire or different unexpected occasions. standardizing designs. Standardization is making identical, interchangeable components or even complete merchandise. With standardization, a buyer might not get exactly what he or she wants, however the product generally prices lower than a customdesigned product. Television units, ballpoint pens, and tortilla chips are standardized merchandise; most are manufactured on an meeting line. Standardization speeds up production and quality management and reduces manufacturing costs. And, as in the instance of the 4-inch bolts, standardization provides consistency in order that prospects who need sure products to function uniformly on a regular basis will get a product that meets their expectations. Standardization becomes more complex on a world scale because completely different countries have totally different requirements for high quality. To assist clear up this problem, the International Organization for Standardization has developed a listing of world standards that corporations can adopt to assure stakeholders that they’re complying with the very best quality, environmental, and managerial guidelines. activities. The space of company communications provides plenty of alternatives for specific jobs that facilitate communication techniques. Thanks to know-how, there are job positions to help disseminate info by way of online newsletters, intranets, or internal computer networks to share information to increase

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