Availability of resources

Availability of resources The availability of resources is a key success factor for any manufacturing enterprise. Lack of resources may cause delays in production, problems with quality, increase in costs, problems with orders and even bankruptcy. Managers can not allocate resources if they are not available, so you need careful planning and preparation before undertaking any undertaking to provide all the resources required to perform the desired tasks:

Types of resources inrelation to their availability

• Resource conflicts
• Renewable resources
• Human resources
• Financial resources

Resource conflicts

Resource conflicts - in project management resources can be assigned simultaneously to different tasks.

Renewable resources

Renewable resources - are resources that can still exist in good management, that is, provide services without interruption. These are also resources that are inexhaustible or are living resources like plants or animals. One example of such renewable resources can be water, wood, air quality as well as geothermal energy.

Human resources

Human resources - It is a concept that can be understood as the concept which means work, that is, the work force as one of the three means of production. It refers to social sciences. Its second meaning is more common, it is related to a large extent to the scope of management and refers to individual employees and to the department dealing with personnel policy, i.e. recruitment, employee training, motivating and dismissing employees.

Managing human resources: it is a coherent strategy of managing the most valuable of each organization's capsules, namely, people. Nowadays human resources have a high impact on the value and competitiveness of the company. Thanks to this, the human resource management policy has been successively developed, defining a company operating in the right way, its methods and challenges. The most important feature of human resources management is human capital. This is a very important element because it is the main resource of the company. An important feature is also the increase in managerial staff's preoccupation with processes related to planning and decentralization of personnel decisions, i.e. the supervision of personnel matters. Another feature is the development of ingenuity, skills and the separation of work relations.

The approach to managing human resources is associated with:

• personal strategy - this strategy forms and engages human resources so that they can achieve specific goals, it is included in the organization strategy
• personal processes combined with basic business processes - specifies the principles of human resources management, as well as goals and principles
• tools needed to solve personal issues.

Financial resources

Financial resources - are all the means of money available to enterprises to finance their current and future activities. They occur both in the form of cash and bills of exchange, bonds. The financial resources also include:

• interest rates
• government support
• sources of financing - cash resources financing the venture. In various cycles, enterprises need to raise capital for their operations and development. Ways to raise money depend on the stage of company development, size and perspectives for further growth.

Due to the origin of capital, you can distinguish:

equity capital - may come from internal sources (profit earned by the enterprise that is at its disposal) and from external sources (equity capital in companies by shareholders). Shareholders who contribute to the company's capital for the return can count on its liquidation. As a result of conducting appropriate procedures and securing the interests of creditors, you can increase or decrease your equity. The main purpose of capital change should be to ensure the stability of the company's development or to create conditions for more effective operation.

foreign capital - these are funds left at the company's disposal by the creditors, but only for a certain period of time and which must be paid back. These are all liabilities and provisions for liabilities that are a burden on the enterprise. Foreign capital can be divided into short-term (repayment date up to 1 year, e.g. loans, bank loans, bonds, payroll liabilities, taxes, supplies) and long-term loans (repayment period over 1 year, e.g. long-term loans and bonds, other liabilities long-term).

Examples of Availability of resources

• Labor: Labor is one of the most important resources for any production process. Labor can be obtained from internal resources or from external sources such as contract workers or outsourcing.
• Machinery: Machinery and equipment play an important role in any production process. Machinery and equipment must be available in sufficient quantity and quality in order to produce the desired output.
• Raw Materials: Raw materials are the basis of any product. They must be available in sufficient quantity and quality to meet the production objectives.
• Supplies: Supplies such as tools, spare parts, lubricants, fuels, etc., must be available in sufficient quantity and quality in order to ensure smooth production.
• Facilities: Facilities such as warehouses, offices, and other infrastructure must be available to support the production process.
• Financial Resources: Financial resources such as capital, credit, and cash must be available to finance the production process.

Advantages of Availability of resources

Introducing the advantages of having available resources, they are as follows:

• Availability of resources ensures regular supply of materials and labor to keep the production processes running smoothly and uninterruptedly. This helps to meet customer deadlines and maintain high quality of products.
• Having resources in abundance gives the company greater flexibility and control over the production process. This allows the company to make quick changes to the production process and respond to customer needs in a timely manner.
• Having resources also helps in reducing costs as the company can better manage its inventories and select the most cost-effective materials.
• Availability of resources also ensures that the company is able to respond quickly to market changes or customer requirements. This helps the company stay competitive in the market and maintain its competitive edge.

Limitations of Availability of resources

Availability of resources is a key success factor for any manufacturing enterprise, but it is also subject to certain limitations. These limitations include:

• Time constraints: Resources need to be allocated in a timely manner in order to ensure production is not delayed. This can be difficult when there is limited time to plan, coordinate, and allocate resources.
• Cost: Resources may be limited due to budget constraints, which can lead to decreased quality and fewer resources available for production.
• Accessibility: Resources may not be available in all locations, meaning that managers may need to look for alternatives to obtain them.
• Competition: Resources may be limited due to competition from other companies who are also trying to acquire the same resources.
• Expertise: Resources may be limited due to a lack of technical knowledge or expertise in the industry.
• Supply and demand: Resources may not always be readily available when needed due to fluctuations in supply and demand.

Other approaches related to Availability of resources

Availability of resources is a key factor for any manufacturing operation, and it is essential to plan and prepare for any undertaking to ensure all necessary resources are available. Other approaches related to availability of resources include:

• Ensuring that resources are allocated to tasks effectively and efficiently. This involves creating a system to measure the resources required for each task, and then setting up a system to track and prioritize the allocation of resources.
• Ensuring that resources are managed properly, including tracking usage and ensuring that resources are not wasted or overused.
• Ensuring that resources are provided in the most cost-effective manner, such as through outsourcing or using alternative sources.
• Ensuring that resources are available in a timely manner, in order to avoid delays in production and other issues.

In summary, a comprehensive approach to availability of resources is essential for successful manufacturing operations. This includes creating a system to measure, track and prioritize resources, managing resources properly and providing them in the most cost-effective manner, as well as ensuring that resources are available in a timely manner.

Availability of resources — recommended articles

Resource plan — Capital restructuring — Capital resource — Resources and capabilities — Objectives of the organization — Factor of production — Functional strategy — Development and organizational balance — Interdepartmental planning

References

• Chow, J., Kopp, R. J., & Portney, P. R. (2003). Energy resources and global development. Science, 302(5650), 1528-1531.
• Ulrich D., Brockbank W., Yeung A. K., Lake D. G., (1995)An empirical assessmentHuman resource competencies.
• Westerveld, E. (2003). The Project Excellence Model®: linking success criteria and critical success factors. International Journal of project management, 21(6), 411-418.

Footnotes

Author: Izabela Palonek