Final answer:
The statement is true. Operations Management function in firms often requires a significant portion of revenue.
Step-by-step explanation:
The statement 'A large percentage of the revenue of most firms is spent in the OM function' is True.
The OM function, which stands for Operations Management, involves managing the processes and activities that transform inputs into finished goods or services. It includes activities such as production planning, scheduling, inventory management, quality control, and supply chain management.
Since operations management directly affects the production and delivery of goods or services, it often requires a significant portion of a firm's revenue. This is especially true for manufacturing firms where the cost of raw materials, labor, and equipment is a major part of the overall expenses.