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Which of the following would not generally be considered a dimension of operations management?
- a)Maintaining quality
- b)Product or Service design
- c)Secure Financial Resources
- d)Inventory Management
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Which of the following would not generally be considered a dimension o...
Operations management:
- The administration of business procedures to maximize efficiency within an organization is the focus of the business discipline known as operations management.
- In order to balance revenues and costs and generate the best operational profit feasible, it entails planning, coordinating, and managing the organization's processes.
Important PointsDimensions of Operation Management
- Price or Cost: The cost of a good or service is what the consumer must pay. Customers will choose the good or service with the cheaper price if two products have similar quality but different prices.
- Quality: Quality is defined as a product's or service's capacity to satisfy the needs of the client and the business providing the goods and services. In general, quality is related to how well a customer believes a product or service will fulfill their needs.
- Product or service differentiation: It refers to any unique characteristics (such as style, price, value, ease of use, guarantee, etc.) that make a client feel a product or service is more suitable or alluring than those provided by competitors.
- Dependability as a supplier: A provider who is known for dependability (such as adhering to the agreed-upon delivery schedule) or who can meet customer demand by making the goods readily available off the shelf has a significant competitive advantage.
- Flexibility/Service: This relates to a company's capacity to adapt to changes that the client requests. Changes could be made to the volume requested, the product or service's design, the delivery schedule, or any combination of these.
- Time: Time to complete certain tasks includes a number of operational characteristics of an organization, including How quickly a customer receives a product or service (like speed to market or minimum lead time to supply).
- Customer Service: Customers may view after-sales services as a value-added addition, such as delivery, setup or installation, warranty or guarantee repairs, technical assistance, or extra care such as courtesy, keeping the customer informed, and attending to even the smallest details or minor issues.
- Employee Productivity and Managerial Expertise: The heart and soul of any organization are its managers and other workers. Managerial staff members that are capable and motivated can offer a clear competitive advantage through their knowledge, abilities, and innovative ideas.
- Inventory Management: As a result managing inventory is a critical part of operations management. The major decisions in inventory relate to when to replenish stock, and how large orders should be. This is called an inventory policy.
Hence, it can be concluded that secure Financial Resources would not generally be considered a dimension of operations management.
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Community Answer
Which of the following would not generally be considered a dimension o...
Operations management:
- The administration of business procedures to maximize efficiency within an organization is the focus of the business discipline known as operations management.
- In order to balance revenues and costs and generate the best operational profit feasible, it entails planning, coordinating, and managing the organization's processes.
Important PointsDimensions of Operation Management
- Price or Cost: The cost of a good or service is what the consumer must pay. Customers will choose the good or service with the cheaper price if two products have similar quality but different prices.
- Quality: Quality is defined as a product's or service's capacity to satisfy the needs of the client and the business providing the goods and services. In general, quality is related to how well a customer believes a product or service will fulfill their needs.
- Product or service differentiation: It refers to any unique characteristics (such as style, price, value, ease of use, guarantee, etc.) that make a client feel a product or service is more suitable or alluring than those provided by competitors.
- Dependability as a supplier: A provider who is known for dependability (such as adhering to the agreed-upon delivery schedule) or who can meet customer demand by making the goods readily available off the shelf has a significant competitive advantage.
- Flexibility/Service: This relates to a company's capacity to adapt to changes that the client requests. Changes could be made to the volume requested, the product or service's design, the delivery schedule, or any combination of these.
- Time: Time to complete certain tasks includes a number of operational characteristics of an organization, including How quickly a customer receives a product or service (like speed to market or minimum lead time to supply).
- Customer Service: Customers may view after-sales services as a value-added addition, such as delivery, setup or installation, warranty or guarantee repairs, technical assistance, or extra care such as courtesy, keeping the customer informed, and attending to even the smallest details or minor issues.
- Employee Productivity and Managerial Expertise: The heart and soul of any organization are its managers and other workers. Managerial staff members that are capable and motivated can offer a clear competitive advantage through their knowledge, abilities, and innovative ideas.
- Inventory Management: As a result managing inventory is a critical part of operations management. The major decisions in inventory relate to when to replenish stock, and how large orders should be. This is called an inventory policy.
Hence, it can be concluded that secure Financial Resources would not generally be considered a dimension of operations management.
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Which of the following would not generally be considered a dimension of operations management?a)Maintaining qualityb)Product or Service designc)Secure Financial Resourcesd)Inventory ManagementCorrect answer is option 'C'. Can you explain this answer?
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