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

Operations management : The systematic design, direction, and control of processes that transform inputs into services 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 management : 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 2 | P a g e Supply chain : An interrelated series of processes within and across firms the produces a service or product to the satisfaction of customers External customers : End users or intermediaries (manufacturers, financial institutions, or retailers) Internal customers : May be employees of the firm whose process inputs are actually the outputs of earlier processes managed within the firm