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Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective
by Sophia Beckett Velez Ph.D.A systemic risk event that leads to significant losses in banks that are significant financial institutions can expose them to insolvency, significant volatility and impose serious negative impact on a country’s economy, as witnessed during the 2008 financial crash. The viral spread of operational losses through global markets by interconnected multinational banks can be referred to as idiosyncratic viral loss theory. Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective identifies important considerations that can bolster effective risk management practices in comprehensive enterprise-wide risk, fraud control, going beyond minimum risk assessment required by banking regulators as well as independent risk identification and management. These considerations towards improving risk management practices may help reduce systemic operational losses spread virally in banks. Operational Risk Management in Banks and Idiosyncratic Loss Theory is a useful tool for scholars, bank practitioners, regulators, and accountants to understand the behaviour of idiosyncratic viral losses in banks and in the use of effective risk management practices. Bank practitioners and regulators can leverage the suggestions made by the panel of sector experts and bank leaders to construct action plans and training programs.
Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance: Public Policy for the 21st Century
by Jane Beckett-CamarataWith the introduction of new market-oriented approaches to infrastructure finance policy decision-making in the national and subnational public sectors, there is a greater emphasis on the need for resource efficiency in the delivery of public services. There is also a critical need to evaluate and assess the effectiveness of infrastructure finance policy implementation. Public-Private Partnerships (PPPs) bring an agility and fresh perspective to the financing and delivery of public goods and services, and allow for a higher level of creativity, innovation, and flexibility during times of dynamic change and high demand for responsive solutions. By introducing a comprehensive new lens through which to view infrastructure finance policy as an instrument capable of achieving long-term national and subnational policy objectives, this study offers a unique insight into the potential benefits of the adoption of PPPs within the context of long-term capital investment planning. Through the examination of case studies from the United States, Albania and Mauritius, the author presents a transparent and integrated analysis of the role of PPPs as a policy option within this context. By demonstrating how PPPs can be utilized as a means of efficiently financing and delivering capital infrastructure projects within unified and comprehensive capital management and budgeting systems, this book is essential reading for researchers, policy decision-makers and students of public policy, capital budgeting and infrastructure finance.
Public-Private Partnerships, Capital Infrastructure Project Investments and Infrastructure Finance: Public Policy for the 21st Century
by Jane Beckett-CamarataWith the introduction of new market-oriented approaches to infrastructure finance policy decision-making in the national and subnational public sectors, there is a greater emphasis on the need for resource efficiency in the delivery of public services. There is also a critical need to evaluate and assess the effectiveness of infrastructure finance policy implementation. Public-Private Partnerships (PPPs) bring an agility and fresh perspective to the financing and delivery of public goods and services, and allow for a higher level of creativity, innovation, and flexibility during times of dynamic change and high demand for responsive solutions. By introducing a comprehensive new lens through which to view infrastructure finance policy as an instrument capable of achieving long-term national and subnational policy objectives, this study offers a unique insight into the potential benefits of the adoption of PPPs within the context of long-term capital investment planning. Through the examination of case studies from the United States, Albania and Mauritius, the author presents a transparent and integrated analysis of the role of PPPs as a policy option within this context. By demonstrating how PPPs can be utilized as a means of efficiently financing and delivering capital infrastructure projects within unified and comprehensive capital management and budgeting systems, this book is essential reading for researchers, policy decision-makers and students of public policy, capital budgeting and infrastructure finance.
Domestic Food Production and Food Security in the Caribbean: Building Capacity and Strengthening Local Food Production Systems
by C. Beckford D. CampbellWith the exception of Haiti, the sensationalized issues of hunger reported in certain parts of the developing world are largely unknown in the Caribbean. Despite this, there are growing concerns about the state of food security in the region, as declining domestic production and increased dependence on imported food create vulnerability. This study examines some of the contemporary issues impacting food production and food and nutrition security in the CARICOM region of the Caribbean. The authors focus on enhancing domestic food production as the most appropriate way to improve food security and discuss strategies for building capacity in local food production systems. The book is the product of over ten years of research by the authors. It will be of interest to scholars and students of Caribbean geography, cultural geography, food and agricultural geography, and food security.
Poverty and Climate Change: Restoring a Global Biogeochemical Equilibrium (Open Access) (Routledge Studies in Sustainable Development)
by Fitzroy B. BeckfordMost, if not all of the global biogeochemical cycles on the earth have been broken or are at dangerous tipping points. These broken cycles have expressed themselves in various forms as soil degradation and depletion, ocean acidification, global warming and climate change. The best proposal for an organic solution to fixing the myriad broken cycles is a deliberate investment in solutions that first acknowledge the historic roles played by both the subjugated peoples, and the economic beneficiaries of the environmental exploitations of the past. Ever since Europeans made contact with the West, a series of global circumstances including the genocide of the indigenous people of the Americas, the enslavement and global subjugation of Africans, and the emergence of Western concepts of trade dominance and capitalism, have led to deleterious impacts on the global biogeochemical cycles. Addressing the broken biogeochemical cycles should be done with a clear understanding that it was not only human subjects which were subjugated, but also land, water, and air. These three global stores must be replenished from the ideological position that poverty is not simply the absence of money, but is also the lack of access to non-polluting energy sources, to clean air devoid of runaway greenhouse gasses, and to local conditions devoid of climate change instabilities. With this in mind, the global powerbrokers can enter into a new deal with developing nations, shifting the paradigm toward a new ecological approach that rewards good behavior and sets new standards of worldwide relations based on ecologic inclusivity rather than the exclusive economic arrangements currently in order. Harnessing a forward thinking approach to analyzing the current global environmental crisis, this book will be of great interest to students and scholars of sustainable development, political ecology, sustainable agriculture, climate change and environmental justice.
Poverty and Climate Change: Restoring a Global Biogeochemical Equilibrium (Open Access) (Routledge Studies in Sustainable Development)
by Fitzroy B. BeckfordMost, if not all of the global biogeochemical cycles on the earth have been broken or are at dangerous tipping points. These broken cycles have expressed themselves in various forms as soil degradation and depletion, ocean acidification, global warming and climate change. The best proposal for an organic solution to fixing the myriad broken cycles is a deliberate investment in solutions that first acknowledge the historic roles played by both the subjugated peoples, and the economic beneficiaries of the environmental exploitations of the past. Ever since Europeans made contact with the West, a series of global circumstances including the genocide of the indigenous people of the Americas, the enslavement and global subjugation of Africans, and the emergence of Western concepts of trade dominance and capitalism, have led to deleterious impacts on the global biogeochemical cycles. Addressing the broken biogeochemical cycles should be done with a clear understanding that it was not only human subjects which were subjugated, but also land, water, and air. These three global stores must be replenished from the ideological position that poverty is not simply the absence of money, but is also the lack of access to non-polluting energy sources, to clean air devoid of runaway greenhouse gasses, and to local conditions devoid of climate change instabilities. With this in mind, the global powerbrokers can enter into a new deal with developing nations, shifting the paradigm toward a new ecological approach that rewards good behavior and sets new standards of worldwide relations based on ecologic inclusivity rather than the exclusive economic arrangements currently in order. Harnessing a forward thinking approach to analyzing the current global environmental crisis, this book will be of great interest to students and scholars of sustainable development, political ecology, sustainable agriculture, climate change and environmental justice.
The Intelligent Organisation: Realising the value of information
by John BeckfordThe Intelligent Organisation offers a radical model of organisation based on the integration of structure, individuals and information. In this game-changing book, leading consultant John Beckford proposes a different way of designing organisations in order to transform their performance and capitalise on the potential offered by contemporary information capability. This book demonstrates how an organisation designed backwards from its customers provides optimised autonomy for individuals and integrated, coherent information. Drawing on ideas from management science, business information management, organisation theory and extensive professional practice, Beckford argues that organisations have not evolved to process and derive meaning from exponentially increasing availability of data, and that the use of data for optimum performance requires fundamental organisational changes, not incremental improvement. Beckford demonstrates how to effect these changes in real practice and the positive results these changes can yield, as well as the challenges in implementation and how to work around them.Beckford’s style is lively and direct, but his arguments are academically rigorous, striking a persuasive balance between accessibility and authority. The text is supported by case studies throughout and a dedicated website, www.intelligentorganisation.com, with support materials for lecturers. The Intelligent Organisation will be of significance to Masters and Undergraduate students reading Business Studies, Information Systems, Business Information Systems, Computer Science, Business Management and Management Science.
The Intelligent Organisation: Realising the value of information (PDF)
by John BeckfordThe Intelligent Organisation offers a radical model of organisation based on the integration of structure, individuals and information. In this game-changing book, leading consultant John Beckford proposes a different way of designing organisations in order to transform their performance and capitalise on the potential offered by contemporary information capability. This book demonstrates how an organisation designed backwards from its customers provides optimised autonomy for individuals and integrated, coherent information. Drawing on ideas from management science, business information management, organisation theory and extensive professional practice, Beckford argues that organisations have not evolved to process and derive meaning from exponentially increasing availability of data, and that the use of data for optimum performance requires fundamental organisational changes, not incremental improvement. Beckford demonstrates how to effect these changes in real practice and the positive results these changes can yield, as well as the challenges in implementation and how to work around them.Beckford’s style is lively and direct, but his arguments are academically rigorous, striking a persuasive balance between accessibility and authority. The text is supported by case studies throughout and a dedicated website, www.intelligentorganisation.com, with support materials for lecturers. The Intelligent Organisation will be of significance to Masters and Undergraduate students reading Business Studies, Information Systems, Business Information Systems, Computer Science, Business Management and Management Science.
The Intelligent Organisation: Realising the value of information
by John BeckfordThe Intelligent Organisation proposes a radically different way of designing organisations to capitalise on the potential offered by contemporary information capability. Intelligent Organisations, designed backwards from their customers, recognise information as their key source of competitive advantage. An Intelligent Organisation uses information to drive learning and adaptation at the level of individuals, tasks, processes and the whole organisation, to deliver transformational changes in business performance. This fully updated 2nd edition explores how to enable this change through systemic reinvention. Drawing on proven organisational applications exploiting data, information and management science, and grounded in tested theory, this book is not about incremental improvement, but about fundamentally rethinking the whole. Building on the first edition, two chapters have been added to apply the ideas of the Intelligent Organisation to the individual as well as to the nation. Further discussion on the current issues around technology and ethics have been incorporated, as well as review questions and improved pedagogy. The text contains updated case studies throughout, and is accompanied by a dedicated website, www.intelligentorganisation.com, with support materials for lecturers. Uniquely bridging the gap between information systems and organisational behaviour, The Intelligent Organisation will be of particular significance to Masters and Undergraduate students of Information Systems, Knowledge Management and Organisational Theory.
The Intelligent Organisation: Realising the value of information
by John BeckfordThe Intelligent Organisation proposes a radically different way of designing organisations to capitalise on the potential offered by contemporary information capability. Intelligent Organisations, designed backwards from their customers, recognise information as their key source of competitive advantage. An Intelligent Organisation uses information to drive learning and adaptation at the level of individuals, tasks, processes and the whole organisation, to deliver transformational changes in business performance. This fully updated 2nd edition explores how to enable this change through systemic reinvention. Drawing on proven organisational applications exploiting data, information and management science, and grounded in tested theory, this book is not about incremental improvement, but about fundamentally rethinking the whole. Building on the first edition, two chapters have been added to apply the ideas of the Intelligent Organisation to the individual as well as to the nation. Further discussion on the current issues around technology and ethics have been incorporated, as well as review questions and improved pedagogy. The text contains updated case studies throughout, and is accompanied by a dedicated website, www.intelligentorganisation.com, with support materials for lecturers. Uniquely bridging the gap between information systems and organisational behaviour, The Intelligent Organisation will be of particular significance to Masters and Undergraduate students of Information Systems, Knowledge Management and Organisational Theory.
Quality: A Critical Introduction
by John BeckfordThe second edition of this best-selling textbook provides a comprehensive introduction to the theory and practice of quality in the context of management thinking. Fully revised and updated, it reviews the study of the quality movement throughout the twentieth century. The wide-ranging approach encompasses both traditional and contemporary approaches based on systems thinking.Improvements on the first edition include:* revised and updated chapters which explore the notion of quality in greater depth, and relate quality directly to organisational effectiveness* consideration of the substantial changes brought about by the introduction of ISO9000:2000 and exploration of the links to IIP, ISO14000, ISO19000, Management Charter and the Business Excellence Model* revised examination of Business Process Re-engineering which emphasizes the application of chaos and complexity theories* a completely rewritten approach to statistical methods* a new section on 'Skills Based Quality Management' - an approach to quality in the professional sector developed by the author and his colleagues* an entirely new chapter dealing with the Business Excellence Model.
Quality: A Critical Introduction
by John BeckfordThe second edition of this best-selling textbook provides a comprehensive introduction to the theory and practice of quality in the context of management thinking. Fully revised and updated, it reviews the study of the quality movement throughout the twentieth century. The wide-ranging approach encompasses both traditional and contemporary approaches based on systems thinking.Improvements on the first edition include:* revised and updated chapters which explore the notion of quality in greater depth, and relate quality directly to organisational effectiveness* consideration of the substantial changes brought about by the introduction of ISO9000:2000 and exploration of the links to IIP, ISO14000, ISO19000, Management Charter and the Business Excellence Model* revised examination of Business Process Re-engineering which emphasizes the application of chaos and complexity theories* a completely rewritten approach to statistical methods* a new section on 'Skills Based Quality Management' - an approach to quality in the professional sector developed by the author and his colleagues* an entirely new chapter dealing with the Business Excellence Model.
Quality: A Critical Introduction
by John BeckfordThis introductory text provides a comprehensive and detailed introduction to the theory and practice of quality in the context of 20th century management thinking. Intended primarily for students the text will also be of assistance to practising managers. Key features include: * a complete introduction to quality * an in-depth review of the work of the Quality Guru's methods, tools and techniques * international case studies drawing on public and private sectors * coverage of features both service and manufacturing industry * a Tutor Guide of OHP bases * case studies, summarized key learning points and assignment questions.
Quality: A Critical Introduction
by John BeckfordThis introductory text provides a comprehensive and detailed introduction to the theory and practice of quality in the context of 20th century management thinking. Intended primarily for students the text will also be of assistance to practising managers. Key features include: * a complete introduction to quality * an in-depth review of the work of the Quality Guru's methods, tools and techniques * international case studies drawing on public and private sectors * coverage of features both service and manufacturing industry * a Tutor Guide of OHP bases * case studies, summarized key learning points and assignment questions.
Quality: A Critical Introduction, Third Edition
by John BeckfordThe 3rd edition of this top-selling text continues to provide a complete knowledge platform for all those wishing to study the development of the theory and practice of quality management. Building upon previous editions’ unique critical perspective on quality, this edition is enhanced by the inclusion of the latest contemporary developments in quality thinking, including Integrated Management Systems, Lean Manufacturing and SMART thinking, as well as updated, real-world examples in applying quality methods. In addition, existing understanding of the environmental impact of the quality movement will be extended into a broader understanding of environmental, financial, regulatory and behavioral sustainability. The book also addresses the issues of Corporate Governance and Corporate Social Responsibility which are now informing the decision making and behavior of managers. Key features include: Complete introduction to quality in the context of management thinking In depth reviews of the contributions of ‘Quality Gurus’ Contemporary developments in theory and practice International case studies drawn from both public and private sectors Equal emphasis on both manufacturing and service sectors Practical ‘case study’ focused toolkits and applications
Quality: A Critical Introduction, Third Edition
by John BeckfordThe 3rd edition of this top-selling text continues to provide a complete knowledge platform for all those wishing to study the development of the theory and practice of quality management. Building upon previous editions’ unique critical perspective on quality, this edition is enhanced by the inclusion of the latest contemporary developments in quality thinking, including Integrated Management Systems, Lean Manufacturing and SMART thinking, as well as updated, real-world examples in applying quality methods. In addition, existing understanding of the environmental impact of the quality movement will be extended into a broader understanding of environmental, financial, regulatory and behavioral sustainability. The book also addresses the issues of Corporate Governance and Corporate Social Responsibility which are now informing the decision making and behavior of managers. Key features include: Complete introduction to quality in the context of management thinking In depth reviews of the contributions of ‘Quality Gurus’ Contemporary developments in theory and practice International case studies drawn from both public and private sectors Equal emphasis on both manufacturing and service sectors Practical ‘case study’ focused toolkits and applications
Quality: A Critical Introduction
by John BeckfordQuality: A Critical Introduction, fourth edition, continues to provide a complete knowledge platform for all those wishing to study the development of the theory and practice of quality management. Exploring the basics of management theory and the work of the quality gurus, who have formed the foundation of current practice, this new edition builds upon the previous editions’ unique critical perspective of quality. A number of key management practices are considered including the new ISO9001:2015 standards, EFQM, systems thinking, systems practice, business process reengineering, six-sigma, organisational learning, intelligent organisation, skills based quality management and service quality management. An extended, in-depth case studies completes the text, exploring organisational performance transformation through the use of key methodologies, such as: soft systems; viable systems modelling; process analysis, job design and statistical methods. Replete with examples, vignettes and diagrams this comprehensive textbook is ideal for those new to the field of quality management and for students on undergraduate and postgraduate courses in Operations Management where quality management is taught.
Quality: A Critical Introduction
by John BeckfordQuality: A Critical Introduction, fourth edition, continues to provide a complete knowledge platform for all those wishing to study the development of the theory and practice of quality management. Exploring the basics of management theory and the work of the quality gurus, who have formed the foundation of current practice, this new edition builds upon the previous editions’ unique critical perspective of quality. A number of key management practices are considered including the new ISO9001:2015 standards, EFQM, systems thinking, systems practice, business process reengineering, six-sigma, organisational learning, intelligent organisation, skills based quality management and service quality management. An extended, in-depth case studies completes the text, exploring organisational performance transformation through the use of key methodologies, such as: soft systems; viable systems modelling; process analysis, job design and statistical methods. Replete with examples, vignettes and diagrams this comprehensive textbook is ideal for those new to the field of quality management and for students on undergraduate and postgraduate courses in Operations Management where quality management is taught.
Quality Management: Reconsidered for the Digital Economy
by John BeckfordQuality Management: Reconsidered for the Digital Economy continues to provide a one-stop-shop for anyone studying the theory and practice of quality management. Exploring the essentials of management theory and the work of the ‘quality gurus’ who have formed the foundation of current practice, this new edition builds upon the previous editions’ unique critical perspective of quality. Key management practices are considered and extended, including lean thinking, systems methodologies, business process reengineering, organisational learning and intelligent organisations and service quality management. This edition plays particularly close attention throughout to the impact of the 4th Industrial Revolution on quality management, revisiting the meaning of ‘quality’ in an automated and data-driven world. Throughout, case studies have been rewritten including new examples from emerging economies, and practical tools incorporated to enhance learning and application. Replete with examples, vignettes and diagrams, this comprehensive textbook is ideal for those new to the field of quality management and for students on advanced undergraduate and postgraduate courses in Operations Management. Online resources include chapter-by-chapter PowerPoint slides and a test bank of questions.
Quality Management: Reconsidered for the Digital Economy
by John BeckfordQuality Management: Reconsidered for the Digital Economy continues to provide a one-stop-shop for anyone studying the theory and practice of quality management. Exploring the essentials of management theory and the work of the ‘quality gurus’ who have formed the foundation of current practice, this new edition builds upon the previous editions’ unique critical perspective of quality. Key management practices are considered and extended, including lean thinking, systems methodologies, business process reengineering, organisational learning and intelligent organisations and service quality management. This edition plays particularly close attention throughout to the impact of the 4th Industrial Revolution on quality management, revisiting the meaning of ‘quality’ in an automated and data-driven world. Throughout, case studies have been rewritten including new examples from emerging economies, and practical tools incorporated to enhance learning and application. Replete with examples, vignettes and diagrams, this comprehensive textbook is ideal for those new to the field of quality management and for students on advanced undergraduate and postgraduate courses in Operations Management. Online resources include chapter-by-chapter PowerPoint slides and a test bank of questions.
Carnegie goes to California: Advancing and Celebrating the Work of James G. March (Research in the Sociology of Organizations #76)
by Christine M. BeckmanWith work spanning management, political science, sociology, public administration and education, James G. March was a founder of organization theory. Honouring his exceptional ability to go beyond the models of rationality so prevalent in much of organizational scholarship, this edited collection builds on March’s imaginative, evocative ideas and encourages others to appreciate and explore them. Jim March left his co-authors Herbert Simon and Richard Cyert at the Carnegie Institute of Technology, where they had founded what is known as the Carnegie School and moved to California in the mid 1960s. This volume highlights and builds on many of the complements and alternatives to rationality that March articulated once settled at Stanford: a technology of foolishness, garbage can models of decision making, a logic of appropriateness, organizational learning, and a variety of models of chance and luck. Employing a variety of methodological tools including models, laboratory experiments and quantitative and qualitative analysis, the chapters seek to extend our understandings of how decisions happen, how actors behave, how organizations navigate the traps of exploration and exploitation, and how we might contemplate human action in terms of truth, beauty and justice. The volume is a celebration of Jim by his students and colleagues that gives readers a sense of this extraordinary person, poet, sage and scholar.
Carnegie goes to California: Advancing and Celebrating the Work of James G. March (Research in the Sociology of Organizations #76)
by Christine M. BeckmanWith work spanning management, political science, sociology, public administration and education, James G. March was a founder of organization theory. Honouring his exceptional ability to go beyond the models of rationality so prevalent in much of organizational scholarship, this edited collection builds on March’s imaginative, evocative ideas and encourages others to appreciate and explore them. Jim March left his co-authors Herbert Simon and Richard Cyert at the Carnegie Institute of Technology, where they had founded what is known as the Carnegie School and moved to California in the mid 1960s. This volume highlights and builds on many of the complements and alternatives to rationality that March articulated once settled at Stanford: a technology of foolishness, garbage can models of decision making, a logic of appropriateness, organizational learning, and a variety of models of chance and luck. Employing a variety of methodological tools including models, laboratory experiments and quantitative and qualitative analysis, the chapters seek to extend our understandings of how decisions happen, how actors behave, how organizations navigate the traps of exploration and exploitation, and how we might contemplate human action in terms of truth, beauty and justice. The volume is a celebration of Jim by his students and colleagues that gives readers a sense of this extraordinary person, poet, sage and scholar.
Dreams of the Overworked: Living, Working, and Parenting in the Digital Age
by Christine M. Beckman Melissa MazmanianA riveting look at the real reasons Americans feel inadequate in the face of their dreams, and a call to celebrate how we support one another in the service of family and work in our daily life. Jay's days are filled with back-to-back meetings, but he always leaves work in time to pick his daughter up from swimming at 7pm, knowing he'll be back on his laptop later that night. Linda thinks wistfully of the treadmill in her garage as she finishes folding the laundry that's been in the dryer for the last week. Rebecca sits with one child in front of a packet of math homework, while three others clamor for her attention. In Dreams of the Overworked, Christine M. Beckman and Melissa Mazmanian offer vivid sketches of daily life for nine families, capturing what it means to live, work, and parent in a world of impossible expectations, now amplified unlike ever before by smart devices. We are invited into homes and offices, where we recognize the crushing pressure of unraveling plans, and the healing warmth of being together. Moreover, we witness the constant planning that goes into a "good" day, often with the aid of phones and apps. Yet, as technologies empower us to do more, they also promise limitless availability and connection. Checking email on the weekend, monitoring screen time, and counting steps are all part of the daily routine. The stories in this book challenge the seductive myth of the phone-clad individual, by showing that beneath the plastic veneer of technology is a complex, hidden system of support—our dreams being scaffolded by retired in-laws, friendly neighbors, spouses, and paid help. This book makes a compelling case for celebrating the structures that allow us to strive for our dreams, by supporting public policies and community organizations, challenging workplace norms, reimagining family, and valuing the joy of human connection.
The Small Business Computer Guide
by Joseph BeckmanAnyone who needs information about computer systems for small or home businesses will find The Small Business Computer Guide to be an invaluable, thorough review of all aspects of computer systems and technology suited to small businesses. In clear, easy-to-understand language, The Small Business Computer Guide explains hardware components, software, and telecommunications, with an emphasis on productivity, efficiency, and how systems and components can be configured to best serve anindividual business' needs. Consideration is given to budgetary restraints, and Joseph S Beckman offers numerous tips and suggestions on how to put together the right system. Joseph S Beckman is a lawyer in private practice and has spent many yearsusing coputers in his legal work. He lives in Plantation, Florida.
Materials management: A systems approach (Series on Applied Business Logistics #1)
by G.K. Beckman-Love L. NiegerFor decades the materials sector of an enterprise has been relatively un important, compared with the production and sales side, but it has gained in importance during the last 25-30 years. This is clearly indicated by the increas ing attachment of this sector to the commercial side of an enterprise, the delegation of materials-oriented tasks to highly qualified people, and -closely correlated -the integration of the materials sector with the key positions of a company's organizational hierarchy. The materials management area has become an interesting part of business life. Stimulating this development was the realization that an important part of company rationalization had been overlooked, namely, provision of ade quate supervision of the materials flow. This area was given particular atten tion, firstly, because the relatively high percentage of materials l:osts (the value of materials and cost of supervision) in the total production costs off ered the possibility of considerable cost reductions and liquidity improvem ents; and secondly, because effective supervision permits faster reactions to changes and reliable delivery times -essential considerations for a compe titive company. An important contribution to the realization of these possi bilities is found in an efficient organizational structure in combination with an integrated information system. Together, they provide coordinated super vision of the various control functions associated with the materials flow and a concentration of expertise.