Resource-allocation is a plan of utilizing the available resources in most effective way, for example human resources, financial resources, technical resources and so on. It is the process of allocating resources to different projects or business units. Like which resource should be present in the plan and what level of funding it should get.
There is also priority ranking of products in the plan which shows that which items is important and which item one can leave if the funding is less.
So if recourse allocation is not done properly then company might not use their resources at there full capacity and might face loses. For better output one should plan and allocate resources effectively.
There is also priority ranking of products in the plan which shows that which items is important and which item one can leave if the funding is less.
So if recourse allocation is not done properly then company might not use their resources at there full capacity and might face loses. For better output one should plan and allocate resources effectively.