The ability of an organization to respond quickly to changes in the quantity and type of demand is called _____.
A) utility
B) reliability
C) demand variability
D) volume flexibility

Question

Quizplus · Accepted Answer

Volume flexibility refers to an organization's ability to respond quickly to changes in the quantity and type of demand. This is important in ensuring that a company can meet the needs of its customers while maintaining efficiency and profitability. Utility refers to the overall usefulness or value of a product or service, while reliability refers to the ability of a product or service to function consistently and without failure. Demand variability refers to fluctuations in customer demand, which can pose challenges for companies in terms of forecasting and inventory management.

The Ability of an Organization to Respond Quickly to Changes