Business AS Level

3.4.5 Making operational decisions to improve performance: managing inventory and supply chains

Ways and value of improving flexibility, speed of response and dependability:

• Flexibility: the ability of a system, such as a manufacturing process, to cost effectively vary its output within a certain range and given timeframe
• Dependability:  degree to which an item is capable of performing its required function at any randomly chosen time during its specified operating period

Can be improved…