Why Do Modern Operations Managers Look for Flexibility in Their

question 204

Essay

Why do modern operations managers look for flexibility in their equipment?

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Definitions:

Non-Financial Indicators

Metrics used to assess aspects of a business's performance that are not expressed in monetary terms, such as customer satisfaction or employee turnover.

Product Availability

Refers to the extent to which products are in stock and accessible to customers at the point and time of need.

Stock Outs

Situations where the demand for a product exceeds the supply, leading to an unavailability of the product.

Overdue Deliveries

Shipments or parcels that have not arrived at their destination by the expected delivery date.