GENERAL KNOWLEDGE

Detailed explanation-1: -Speed is the turnaround time between customers ordering a product or service and the point at which they receive it. When an organization delivers the goods or services on time, the more likely a customer is to be satisfied with their experience.

Detailed explanation-2: -It refers to the ability of different types of operations that the machine can perform without requiring a prohibitive effort in switching from one operation to another (Sethi and Sethi, 1990).

Detailed explanation-3: -Types of operations management include operations and production efficiency, quality management, and inventory and supply chain management. Operational efficiency measures the profitability of a company based on its operations.

Detailed explanation-4: -According to Andy Neely, author of the book “Business Performance Measurement: Unifying Theory and Integrating Practice, ‘’ there are five main operational performance objectives: speed, quality, costs, flexibility, and dependability.