Operational Resource Management
Operational resource management (ORM) refers to how individuals and businesses will be able to manage the total cost of goods and services. It specifically details how a business will manage their resources, including the maintenance, repair, and operations process. Specifically, it details the procurement process and the management of the supply chain as it relates to these tasks. This allows businesses to increase efficiency, improve responsiveness, and make stronger financial decisions.
What Small and Midsize Businesses Need to Know About Operational Resource Management
ORM enables a small business to better manage MRO procurement by helping them achieve increased efficiencies, find critical parts for maintenance in a shorter time period, and make these purchases at the most affordable price. ORM is arguably more critical for small businesses than their larger counterparts, as small businesses usually have less staff and resources to be able to efficiently manage the MRO process. As such, it can allow small businesses to achieve major savings.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
