What Is the Task of Production and Operations Management

question 193

Multiple Choice

What is the task of production and operations management?

• A) to determine the most economical routes for transporting the firms' products
• B) to manage the use of people and machinery in converting materials and resources into finished goods and services
• C) to manage the use of people and other resources in the development of distribution channels and promotional strategies
• D) to design systems that will provide managers with information useful for decision making

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Definitions:

Rate of Return

A measure of the profitability of an investment, expressed as a percentage of the original investment.

Desired Rate

A targeted rate of return or performance that a company or individual aims to achieve, often used in financial and operational planning.

Present Value Methods

Techniques used to estimate the current value of future cash flows, discounting them at a specified rate.

Current Dollars

A term referring to the value of a monetary unit, such as a dollar, in terms of its purchasing power at the current time, not adjusted for inflation.