COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An objective of operational management is to improve efficiencies in operations and an indicator that helps us measure results is:
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unproductive times
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civil defense index
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evaluation index
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Compliance with the training plan
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Explanation:
Detailed explanation-1: -Ultimately, operations management aims to produce products and services that customers are satisfied with. A company cannot imagine a successful product without ensuring their customers are 100% satisfied. This requires understanding customer needs and desires and designing processes and products that meet these needs.
Detailed explanation-2: -Operational efficiency can be measured by comparing the input-to-output ratio of company processes.
Detailed explanation-3: -Operations Management helps in managing inventory efficiently by foreseeing problems that may occur in long-term. The flow of inventory inside a company can be made efficient through operation management activities.
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