What are performance objectives?

Answer 1

*Quality Doing things right by providing error free goods and services, which will satisfy the customers, is known as 'quality'. *Speed It means by doing things fast, to minimise the time between the order and the availability of the product or service that gives the customer e speed advantage. *Dependability Third performance objective is dependability that means doing things in time for customers to receive their gods or services when they are promised. *Flexibility A clear result of responding to a dynamic environment is that organisation change their products and services and changes the way they do business. This performance objective is known as 'flexibility'. *Cost One major operations objective, especially where companies compete with prices is 'cost'. Low price is a universal attractive objective to customers, which can be achieved by producing goods at lower costs. Quality reduces costs and increases dependability High quality means the fewer mistakes made by each process in the operation, the less time will be needed to correct the mistakes and the less confusion and irritation will be spread. And also the high quality can influences customer satisfaction and leads to stable and efficient processes. Speed supports Flexibility As above we said speed means the elapsed time between customers requesting products or services and then receive them. Generally, people prefer faster delivery or service. For example, TNT Express' customers are willing to pay more for the services. Speed also reduces inventories and reduces risk, on the other hand, it means if the speed is faster, the products or the services will be accepted easier, the flexibility will strengthen.. Dependability reduce Cost Ineffective use of time will translate into extra cost. Dependability do not spring any unwelcome surprises on their internal customers. They can be relied on to deliver exactly as planned. This eliminates wasteful disruption and allows the other micro operations to operate efficiently. Flexibility supports cost and maintains dependability. Flexibility adapts to changing circumstances quickly and without disrupting the rest of the operation. It can also change over between tasks quickly and without wasting time and capacity. It helps to keep the operation on schedule when unexpected events disrupt the operation's plans. Cost is affected by the other performance objectives Except the four objectives we mentioned above, speed also reduces the level of in-process inventory between micro operations, as well as reducing administrative overheads.