Production and Operations Management Involves Three Main Types of Decisions

question 103

Multiple Choice

Production and operations management involves three main types of decisions that are made at three different stages. At which stage is the focus on controlling quality and costs?

• A) tactical control
• B) production planning
• C) defect elimination
• D) operational control

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Definitions:

Investment Spending

Expenditures on capital goods used to increase productive capacity or efficiency, including factories, machinery, and technology.

National Election

A formal and organized choice by vote of a country's electorate to select public officials or to make decisions on public policy.

Interest Rate

The percentage of a loan that is applied as interest for the borrower, usually indicated as an annual percentage of the remaining loan balance.

Expected Rate of Return

The profit or loss one anticipates on an investment relative to the original investment amount.