Firms achieve operational excellence through efficient procedures and excellent supply chain management.
a. operational excellence
b. customer loyalty
c. value-based pricing
d. locational excellence
e. customer excellence
<h3>What is operational excellence?</h3>
Dr. Joseph M. Juran first developed the notion of operational excellence in the early 1970s while training Japanese company leaders on how to increase quality.
Operational excellence is a component of organizational leadership and intelligence.
The ultimate goal of operational excellence is to ensure that customer expectations are satisfied on an ongoing basis by continuously enhancing the processes that a business uses.
Organizations strive for Operational Excellence by providing a service that prioritizes the needs of the client. This means, for example, that everything created is done correctly the first time, that it is provided precisely when the customer requests it, and at a competitive price.
This results in a better client experience when purchasing the product or service, as well as increased productivity and cheaper costs.
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