resource (noun, re-source, \ ˈriːsɔːrs \) management (noun, man-age-ment, \ ˈmænɪdʒmənt \)
Definition: is the process of distributing and employing an organization’s resources in the most profitable way. An enterprise’s resources include funds, products, equipment, and workforce. The key to resource management is for an organization to have enough resources to support the fluid running of its core activities, while also ensuring that there isn’t an overabundance of resources so that they aren’t wasted. This process is also employed for controlling how efficiently manpower hours are being used by a company.
In a Sentence:
- Ground Line is constantly suffering from its poor resource management, as the company regularly has an oversupply of one type of materials, while another type is missing.
- Thanks to the resource management procedure we’ve performed we now know how to increase the productivity of our workers.
- If you want to be great at resource management, then learn how to not waste the company’s funds on things it doesn’t need.
Synonyms and related words: human resource management, supply management, waste management, risk management, property management
