Question

A network of organizations and business processes for procuring raw​ materials, transforming these materials into intermediate and finished​ products, and distributing the finished products to customers is called​ a(n):

Answer 1

Answer:

Supply chain

Explanation:

A supply chain is a series of activities that start with the acquisition of raw materials, the production and distribution of finished products. The supply chain network will include people, structures, entities, and technologies used in the manufacturing and the eventual selling of products. Participants in the supply chain include procurement officers, transporters, producers, distribution centers, wholesalers, and retailers.

Different departments of an organization perform the functions of the supply chain. Finance, marketing, operations, customer service, and production will be directly involved in the supply chain. An efficient supply chain system has the advantage of a faster production cycle and lower product costs.