Process out sourcing
This is essential a subcategory of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or specific processes) to a third-party service provider. This was originally associated with manufacturing firms but other sectors of the industry have been quite successful at adopting this process. Companies like Coca Cola outsource large segments of its supply chain.
Also known as process re-engineering, this is a business management strategy, originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization. This basically aims to help organizations essentially rethink how they do their work in order to significantly improve customer service, cut operational costs, and become world-class competitors.
This is a systematic approach to help an organization optimize its underpinning processes to achieve more efficiency. The methodology was first documented in H. James Harrington's 1991 book Business Process Improvement. It is the methodology that both Process Redesign and Business Process transformation are based upon. BPI has allegedly been responsible for reducing cost and cycle time by as much as 90% while improving quality by over 60%.
This refers to the anticipation of required workforce for an organization and the strategies to meet those needs. Talent management in this context does not refer to the management of entertainers. What this looks to do is improve business value and to make it possible for companies and organisations to reach their goals. Everything done to recruit, retain, develop, reward and make people perform forms a part of talent management as well as strategic workforce planning.
HR strategy and management
This is a process that identifies current and future human resource needs for an organization to achieve its objectives. Human resource planning should serve as a link between human resource management and the overall strategic plan or vision of an organization.
Work force management
This encompasses all the activities needed to maintain a productive workforce. Under the canopy of human resource management, WFM is sometimes referred to as HRMS systems, or even part of ERP systems