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Application of Operations Management

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Application of Operations Management
Leeann has been hired as an intern at BNR, a small custom embroidery and design business. She is amazed at the many uses her manager has found for technology. She is able to draft customer designs using software, and her manager has even told her about machines that can act and see like human beings. The embroidery machines are so sophisticated that in order to change from one product to another, all that she has to do is change the computer program. BNR sells many of its products over the Internet so there is no intermediary.
-The machines that Leeann's manager has told her about, which can act and see like human beings and are able to perform complex operations, are termed


Definitions:

Charge

An expense or cost applied to a person or entity, often relating to financial transactions.

Receivers

Individuals or entities appointed to manage the affairs of a financially distressed company.

Receiver

An external administrator appointed by a court or secured creditor to collect and sell enough of the charged assets to repay the debt owed to the secured creditor, payout the money collected in the order required by the Corporations Act, and report to ASIC any offences or other irregular matters they discover in performing their duties.

Special Bank Account

An account designed for a specific purpose, often subject to certain conditions or restrictions different from regular accounts.

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