What is SCM short for?

87% of companies use project management software.

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Effective operations management is about recognising when something isn’t working and about making quick adjustments.

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A debtor is an individual or business who has borrowed funds from a business and so owes it money.

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Time impact analysis works by listing all of the activities involved in the project, identifying the most business-critical of these and prioritising them in your schedule, planning the other, less crucial, activities around the key ones.

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Operations management is viewed is viewed as a key part of the smooth running and operational success of an organisation.

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Operations managers earn annual salaries between £20,000 and £27,000. The average is £25,500.

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Are wholesalers involved in the distribution channel?

Which statement best describes the contractor rate of pay?

Any business process or intervention will not achieve desired success if it isn’t backed fully by those who are holding senior management positions in the business.

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External sources of finance are funds that come from within the business itself.

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One of the first important things to recognise in the early stages of product development is that every product will appeal to every customer.

A key attribute of a successful Operations Manager is the ability to manage time effectively.

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Internal sources are funds from outside of the business, such as from creditors or banks.

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The first Gantt chart was devised in the mid-1910s by Karol Adamiecki.

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HART objectives is a commonly used term in the business world and refers to the specific targets or aims that a project is striving towards.

The Agency Worker Regulations state that after how many weeks does an employer have to treat their agency workers the same as their permanent staff?

In which decade did businesses such as banks and retail organisations start to recognise the value that a focus on operational effectiveness of their processes could bring to both them and their customers?

Finance is not an important part of operations management.

Which of the following is not a factor to consider when choosing vendors?

One of the key characteristics of a balance sheet is that it is drawn up to analyse the financial position at a specific point in time.

Are staff on zero hours contracts employees?

Operations Manager roles are senior management roles in a company.

There are 4 levels of distribution. Which level of distribution does this statement describe?

This is the most complex channel of the four, with three intermediaries, a distributor, retailer and an agent, before the final customer

An asset register is when the monetary value of an asset declines during its lifespan.

Good Operations Managers usually do not have a business background.