Systems, procedures, and decisions that ensure operation processes run effectively and efficiently and produce products and services as required by customers. Planning concerns what should happen in the future, scheduling deals with allocating resources to tasks over given periods, and control aims to compare actual to planned performance and take corrective action, as needed, to align performance with a plan.
Synonymous: none
Included terms: performance management; OKR (Objectives and Key Results); KPI (Key Performance Indicators).
Source: (Pinedo, 2016; Slack et al. , 2017; Helms, 2006; APICS Dictionary)