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After the products have been selected and the
systems for producing them have been designed and built, the next
major step is to operate the system. This requires setting up a
company structure, staffing the positions and training people. In
factoring companies, managers are needed who can provide the
supervision and leadership to carry out activities necessary to
produce desired products or provide services. Other activities, such
as purchasing and maintaining the inventory, are also required in
maintaining the factoring companies. The aim is to obtain the best
productivity ratio within a time period with due consideration to
quality.
Controlling operations, as in any case of
managerial control, requires setting performance criteria, measuring
performance against them, and taking actions to correct undesirable
deviations. Thus, one can control production, product quality and
reliability levels, inventory levels and work force performance in
factoring companies.
A number of tools and techniques
have been developed to do this. With the development of computer
hardware and software, it is now possible for virtually any
measurable data to be reported as events occur. Systems are
available for quickly and systematically collecting data bearing on
total operation, for keeping these data readily available, and for
reporting without delay the status of any of a large number of
projects at any instant. They are thus primarily information systems
playing a pivotal part in factoring companies to provide effective
planning and control.
These and other systems that use
the technology of fast computation clearly promise to hasten the day
when planning all the areas of production can be more precise and
controlling more effective. The drawback is not cost; rather it is
the failure of managers to spend time and mental effort on
conceptualizing the system and its relationships or to see that
someone else in the company does so.
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