The competitive and global nature of markets today requires operation managers to change their views on the production and distribution of goods and services from a cost perspective to a value perspective.

Question

Quizplus · Accepted Answer

This statement is true. In order to compete effectively in today's markets and meet customer demands, operations managers need to focus on delivering value to customers rather than solely minimizing production costs. This involves considering factors such as quality, customization, speed, and convenience in addition to cost.

The Competitive and Global Nature of Markets Today Requires Operation