A digital twin is a virtual representation of a physical object, system, or process, crucial for simulating and optimising operations. Learn about its relevance, applications, and impact on operational efficiency in the Operations Explained glossary.

Environmental Impact Assessment (EIA) is a process to evaluate the potential environmental effects of a proposed project, ensuring sustainable development and regulatory compliance.

Carbon footprint reduction involves strategic efforts to minimise greenhouse gas emissions from business operations, enhancing efficiency and sustainability.

The circular economy is an economic model focused on eliminating waste and maximising resource use. Learn its importance in operations, examples, best practices, and how it impacts efficiency.

Sustainable procurement involves acquiring goods and services with consideration for environmental, social, and ethical impacts, enhancing business efficiency and reputation.

Workforce diversity and inclusion focus on creating an environment where differences among employees are respected and valued. Learn why it's crucial for operational efficiency and organisational success.

Change management involves preparing, supporting, and helping individuals, teams, and organisations adapt to change effectively. It is crucial for operations, impacting process optimisation, quality management, and organisational performance.

Financial risk management involves identifying, assessing, and mitigating financial risks to protect organisations from potential losses, ensuring operational stability and efficiency.

Operational auditing is a systematic review process aimed at assessing the effectiveness and efficiency of an organisation’s operations. It provides insights into process optimisation, quality management, and organisational performance, essential for enhancing efficiency and aligning business processes with strategic goals.

Operational budgeting involves creating a detailed financial plan for day-to-day operations, crucial for efficient resource allocation and financial management.