Management by the numbers: Difference between revisions
From CEOpedia | Management online
mNo edit summary |
(The LinkTitles extension automatically added links to existing pages (<a target="_blank" rel="noreferrer noopener" class="external free" href="https://github.com/bovender/LinkTitles">https://github.com/bovender/LinkTitles</a>).) |
||
| Line 17: | Line 17: | ||
'''[[Management]] by the numbers''' is broad concept involving using gathering of statistics data, applying mathematical and numerical methods as a main and (sometimes) only technique used by management. | '''[[Management]] by the numbers''' is broad concept involving using gathering of statistics data, applying mathematical and numerical methods as a main and (sometimes) only technique used by management. | ||
This concept is closely related with '''operations management''' and both uses same methods and techniques in: | This concept is closely related with '''operations management''' and both uses same methods and techniques in: | ||
* '''[[decision making]]''' - the process of choosing among alternative courses of action in order to achieve a goal or solve a problem., | * '''[[decision making]]''' - the [[process]] of choosing among alternative courses of [[action]] in order to achieve a goal or solve a problem., | ||
* '''performance [[planning]] and monitoring''' - involves setting targets and objectives for an organization or individual, and regularly assessing progress towards those goals., | * '''performance [[planning]] and monitoring''' - involves setting targets and objectives for an organization or individual, and regularly assessing progress towards those goals., | ||
* '''capacity planning''' - the process of determining the production capacity needed by an organization to meet changing demands for its products or services., | * '''capacity planning''' - the process of determining the [[production]] capacity needed by an organization to meet changing demands for its products or services., | ||
* '''inventory management''' - involves overseeing the flow of goods and materials, including ordering, storing, and tracking inventory levels., | * '''inventory management''' - involves overseeing the flow of goods and materials, including ordering, storing, and tracking inventory levels., | ||
* '''supply chain optimization''' - involves the coordination and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities., | * '''supply chain optimization''' - involves the coordination and management of all activities involved in sourcing and procurement, conversion, and all [[logistics]] management activities., | ||
* '''scheduling and [[project management]]''' - involves planning and organizing resources, such as people and equipment, to complete a project on time and within budget., | * '''scheduling and [[project management]]''' - involves planning and [[organizing]] resources, such as people and equipment, to complete a project on time and within budget., | ||
* '''[[resource]] planning''' - involves identifying and allocating the resources an organization needs to achieve its goals, such as personnel, materials, and equipment., | * '''[[resource]] planning''' - involves identifying and allocating the resources an organization [[needs]] to achieve its goals, such as personnel, materials, and equipment., | ||
* '''forecasting and simulation''' - is the use of statistical and mathematical techniques to predict future events or outcomes, and to test different scenarios in a simulated environment. | * '''[[forecasting]] and simulation''' - is the use of statistical and mathematical techniques to predict future events or outcomes, and to test different scenarios in a simulated [[environment]]. | ||
The concept of management by the numbers completely ignores aspects of social relations prevailing in the [[organization]], the relationship between [[employee]]s and management, [[communication]], [[motivation]], etc. | The concept of management by the numbers completely ignores aspects of social relations prevailing in the [[organization]], the relationship between [[employee]]s and management, [[communication]], [[motivation]], etc. | ||
Revision as of 08:48, 20 January 2023
| Management by the numbers |
|---|
| See also |
Management by the numbers is broad concept involving using gathering of statistics data, applying mathematical and numerical methods as a main and (sometimes) only technique used by management.
This concept is closely related with operations management and both uses same methods and techniques in:
- decision making - the process of choosing among alternative courses of action in order to achieve a goal or solve a problem.,
- performance planning and monitoring - involves setting targets and objectives for an organization or individual, and regularly assessing progress towards those goals.,
- capacity planning - the process of determining the production capacity needed by an organization to meet changing demands for its products or services.,
- inventory management - involves overseeing the flow of goods and materials, including ordering, storing, and tracking inventory levels.,
- supply chain optimization - involves the coordination and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities.,
- scheduling and project management - involves planning and organizing resources, such as people and equipment, to complete a project on time and within budget.,
- resource planning - involves identifying and allocating the resources an organization needs to achieve its goals, such as personnel, materials, and equipment.,
- forecasting and simulation - is the use of statistical and mathematical techniques to predict future events or outcomes, and to test different scenarios in a simulated environment.
The concept of management by the numbers completely ignores aspects of social relations prevailing in the organization, the relationship between employees and management, communication, motivation, etc.
References
- Cesarone, J. (2007). Project management by the numbers: How earned value analysis can keep you on track. Industrial Engineer, 39(11), 36-42.
- Chase, J. (2012). Operations management. Tata McGraw-Hill.
- Hummel, R. P. (2006). The Triumph of Numbers Knowledges and the Mismeasure of Management. Administration & Society, 38(1), 58-78.
- Krajewski, Lee J., Larry P. Ritzman, and Manoj K. Malhotra. Operations management. Vol. 8. Prentice Hall, 2001.
