MGSC 395 Exam 1 | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

Operations management : The systematic design, direction, and control of processes that transforms inputs into serves and products for internal, as well as external, customers Process : any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers Operation : a group of resources performing all or part of one or more processes Supply Chain : An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers Supply Chain Management 2 | P a g e : the synchronization of a firm's processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand External Customers : a customer who is either an end user or an intermediary (ex. Manufacturers, financial institutions, or retailers) buying the firm's finished services or products Internal Customers : one or more employees or processes that rely on inputs from other employees or processes in order to perform their work External Suppliers : the businesses or individuals who provide the resources, services, products, and materials for the firm's short-term and long-term needs Internal Suppliers : the employees or processes that supply important information or materials to a firm's processe