Describe the four generic performance dimensions of operations and supply chain activities
What will be an ideal response?
Answer: The four generic performance dimensions of operations and supply chain activities are quality, time, flexibility, and cost. Quality includes all characteristics of a product or service that bear on its ability to satisfy stated or implied needs. Time has two basic characteristics: speed and reliability. Flexibility is a performance dimension that considers how quickly operations and supply chains can respond to the unique needs of customers. Cost covers a wide range of activities that companies categorize in many ways; typical cost categories include labor cost, material cost, engineering cost, and quality-related costs.
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Indicate whether the statement is true or false
The income statement should be prepared
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