Read the summary and the most important questions on Operations Management | 9780198724353 | Peter Jones; Peter Robinson

• 2 Winning customers and competing effectively

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• What is essential for for succesful operations?

  The ability of firms to identify customer needs and develop an appropriate range of products or services to meet these needs.

• What are order qualifying factors?

  Are characteristics of a product or service that are required for it even to be considered by a customer, such as holding a reclgnized quality standard.

• How would you describe cost (from the performance objectives)?

  The ability to provide products or services that the customer is willing to pay whilst still retaining a profit for the organization is the essence of good cost control

• What is profit margin?

  The VALUE that's created and captured by a company 
  

• What is meant by Quality in the five performance objectives?

  The quality of product or service is almost certainly one of the most important criteria for customers to evaluate, both before and after purchase.

• Why is quality an important aspect in the performance objectives?

  Because it is also the ability to satisfy or exceed customers expectations and it is at the heart of most quality management programmes

• What is flexibility In the performance objectives?

  The ability to change a product or service offering to suit customers needs has become even more important to modern compnies.

• What are the important areas for flexibility ?

  • Material quality
    
  • Output quality
  • New product
  • Modified product
  • Deliverability 
  • Volume
  • Mix
  • Resource mix

• What is a key element of managing supply chain relationships?

  Is the building of trust between buyers and sellers. ( dependability is a major feature for this.)

• What is meant with speed in the performance measure?

  The ability to deliver products or services as soon as possible after the customers order is essential in many industries