Operations Business Studies Online Quiz

Flexibility is the performance objective that measures how well an operation can adapt to changes in demand, product mix, or volume.

Dependability refers to the ability of a business to deliver products or services on time and to the promised standard, which increases reliability.

Transformed resources are the inputs (such as raw materials, information, or customers) that are changed or converted during the production process.

Corporate Social Responsibility (CSR) refers to a business's commitment to ethical practices, social welfare, and environmental sustainability.

Quality expectations are the standards customers have regarding the performance, durability, and features of a product or service.

The supply chain encompasses all the organizations, people, activities, and resources involved in moving a product from supplier to customer.

Perishability refers to products that have a limited shelf life, such as fresh food or flowers, which must be sold or used within a certain timeframe.

Mass production is the process of producing large quantities of standardized products, often using assembly lines or automation.

Customisation involves tailoring products to meet the specific requirements or preferences of individual customers.

Product differentiation is the strategy of distinguishing a product from competitors to make it more attractive to a particular target market.

Economies of scale occur when the cost per unit decreases as the volume of production increases, due to efficiencies in larger operations.

Cost Leadership is a competitive strategy where a business aims to become the lowest-cost producer in its industry.

Productivity is a measure of efficiency that compares the amount of output produced to the amount of input used.