Operations Typically Differ in Terms of Volume of Output, Variety

question 11

Multiple Choice

Operations typically differ in terms of volume of output, variety of output, variation in demand or the degree of 'visibility' (i.e. customer contact) that they give to customers of the production
Process. Please match the following element with the most appropriate of the above dimensions.
Flexibility is most closely matched to:

• A) Variety
• B) Visibility
• C) Volume
• D) Variation

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Definitions:

Demand

The consumer's desire and willingness to pay a price for a specific good or service.

Cash Sales

Transactions in which goods or services are paid for and received at the time of the transaction with cash or other immediate payment methods.

Cash Cycle

The period between the purchase of inventory and the collection of receivables from customers, indicating liquidity.

Discount

A reduction from the usual cost of something.