Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

Learn about acceptance in international trade, its process, examples, and how it ensures payment for goods, enhancing your trade finance knowledge.

As businesses try to do more with less and respond to economic pressures, they are naturally interested in reducing costs by improving processes throughout their organizations. A number of ...

Although some aspects of process validation for continuous processes are the same as those for traditional batch processes, there are some unique considerations. Although some aspects of process ...

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...

Business process outsourcing involves the outsourcing of business functions to external companies. To clarify, many companies outsource tasks to external providers. An example may be hiring a ...

The authors outline a validation approach for the manufacture of a “legacy product,” taking into consideration recent guidelines. The aim is to demonstrate the validity and capacity of the ...

The first article in this two-part series (OGJ, May 6, 2013, p. 94) presented four process safety examples of possible inadequate overpressure protection design in amine natural gas sweetening, glycol ...

As a business owner or operations manager responsible for production, understanding the supply chain is essential to the success of your business. Any obstacle or impediment to the smooth flow of ...