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how effectively an organization meets the wants and needs of customers relative to others that offer similar goods or service

• competitiveness

• operation management

• core competencies

• operation strategy

It is important to understand the trade-off decision consumers make between price and quality

• Identifying consumer wants and/or needs

• Price and quality

• Advertising and promotion

• Quality

reflect joint efforts of many areas of the firm to achieve a match between financial resources, operations capabilities, supply chain capabilities, and consumer wants and needs. Special characteristics or features of a product or service can be a key factor in consumer buying decisions. Other key factors include innovation and the time-to-market for new products and services

• Quick response

• Location

• Advertising and promotion

• Product and service design

the ability to respond to changes. Changes might relate to alterations in design features of a product or service, or to the volume demanded by customers, or the mix of products or services offered by an organization. High flexibility can be a competitive advantage in a changeable environment.

• Quick response

• Flexibility

• Supply chain management

• Service

used to describe the difference between the cost of inputs and the value or price of outputs

• core competencies

• output

• value added

• non profit organization

the value of outputs is measured by the prices that customers are willing to pay for those goods or services

• profit organizations

• non-profit organizations

• system design

• system operation

A sequence of activities and organizations involved in producing and delivering a good or service.

• Supply chain

• internal to the organization

• external organization

• model

The management of systems or processes that create goods and/ or provide services

• Supply chain

• finance

• operation management

• opetaion function

must interface on product and process design, forecasting,quality and quantity decisions. (provide the 3 answers)

• finance, marketing, operations

• marketing,budgeting,

  provisions of funds

• budgeting,economic analysis, provision of funds

• wala dito

can be a competitive advantage. One way is quickly bringing new or improved products or services to the market. Another is being able to quickly deliver existing products and services to a customer after they are ordered, and still another is quickly handling customer complaints.

• Quick response

• Inventory management

• Service

• industrial engineering