Certification in Supplier Diversity Practice Exam

What is an operating plan meant to accomplish?

1. Provide estimates for future supply costs

2. Detail actions to achieve organizational goals and objectives

3. Outline the current market trends

4. Establish supplier relationships

The correct answer is: Detail actions to achieve organizational goals and objectives

An operating plan is intended to outline the specific actions and strategies that an organization will undertake to achieve its goals and objectives within a defined time frame. It serves as a roadmap that guides the organization’s day-to-day operations, ensuring that all efforts are aligned with broader strategic objectives. By detailing these actions, the operating plan helps to clarify priorities, allocate resources effectively, and assign responsibilities across different teams or departments. While other choices touch on relevant business areas, they do not capture the overarching purpose of an operating plan. Estimating future supply costs, outlining current market trends, and establishing supplier relationships are important elements of business planning but are more focused and do not encompass the comprehensive framework that an operating plan provides for achieving organizational goals. Thus, focusing specifically on the actions tied directly to goals and objectives makes the correct answer robust in its relevance and functionality within an organization.