Question

A__________is a network of facilities and processes that describes the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.

Answer 1

Answer: Value chain

Explanation: a. value chain

b. product life cycle

c. business cycle

d. product-process matrix

Value chain are the functional activities of a business that add value to its customer which include the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer. It is essential in making it possible for products, information, and finances to flow through the business. This helps optimize these processes thus creating better value in the relationships between companies, its customers, including improvement in the overall efficiency of business.

Answer 2

Answer:

value chain

Explanation:

A value chain can be described as a series of functional activities carried out by a company with the aim of delivering a valuable good to the market or adding value to customers.

Under value chain, value is added not only to the product of the company but also to how the product is produced, marketed, and the process of providing after-sales service to customers.

Therefore, a value chain is a network of facilities and processes that describes the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.