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Select all that applyFirms achieve operational excellence through which of the following?Multiple select question.Good supply chain managementReducing focus on human resourcesEfficient operationsStrong relationships with suppliers

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Select all that applyFirms achieve operational excellence through which of the following?Multiple select question.Good supply chain managementReducing focus on human resourcesEfficient operationsStrong relationships with suppliers

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Solution

Firms achieve operational excellence through:

  1. Good supply chain management: This involves coordinating and managing all the activities in the supply chain, from sourcing raw materials to delivering the final product to the customer. It helps in reducing costs, improving service levels, and increasing customer satisfaction.

  2. Efficient operations: This involves optimizing business processes for maximum efficiency and productivity. It includes things like improving workflow, reducing waste, and using technology to automate tasks.

  3. Strong relationships with suppliers: This involves building and maintaining good relationships with suppliers. It can lead to better pricing, higher quality goods, and more reliable delivery times.

Reducing focus on human resources is not a way to achieve operational excellence. In fact, investing in human resources can lead to improved employee performance, which can contribute to operational excellence.

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