Which term refers to facilities and equipment necessary for operations?

The term that refers to facilities and equipment necessary for operations is capital. In the context of operations and supply chain management, capital encompasses the physical assets that an organization utilizes to produce goods or provide services. This includes buildings, machinery, tools, and other equipment essential for the day-to-day functioning and productivity of a business.

Understanding this context is key, as facilities and equipment are foundational to an organization's ability to operate effectively and to achieve its operational objectives. These assets require investment and management to ensure they contribute positively to the operations.

Other terms, such as resource management, working capital, and operational excellence, relate to different aspects of organizational management but do not specifically refer to the physical facilities and equipment necessary for operations. Resource management focuses more broadly on the allocation and optimization of all types of resources within an organization. Working capital deals with the short-term financial position of a business, reflecting the liquidity available for day-to-day operations. Operational excellence refers to the execution of business strategies more efficiently and effectively, often involving continuous improvement practices, rather than the physical assets required for operational activities.