Resources are means (also known as production factors) that are used in the production of goods and services. In economics, labor, capital and land are considered the classic means of production. These also include raw materials and mineral resources. Information is now considered another means of production. Resources, primarily human resources, are necessary for the production of services.
Resource management must identify and procure these essential resources and make them available for production in the right form, quantity, type, etc., at the right place and at the right time (business administration: allocation). This management task is made more difficult today by just-in-time production, which eliminates the need for costly stockpiling.
See also: Performance Management; Production Flexibility; Process Management; Process Optimization
Reference to QET guidelines: Q14 Resources; Q08 Product management; Q13 Succession; T10 Suppliers