Explain Why It Is Important for Production Systems to Be

question 24

Essay

Explain why it is important for production systems to be responsive to customers, and list some of the operations management techniques that organizations adopt in order to increase their ability to be responsive.

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Definitions:

Market Securities

Financial instruments that are traded in financial markets, such as stocks, bonds, and derivatives, representing investment vehicles for owners.

Financing Activities

Transactions that result in changes in the size and composition of the equity and borrowed funds of a business.

Net Cash Provided

The total amount of cash generated by a company's activities, including operating, investing, and financing activities, during a specific period.

Cash Dividends

The distribution of profits by a corporation to its shareholders in the form of cash.