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

Finance : Acquires financial resources and capital for inputs Marketing : Generates sales of outputs Operations : Translates materials and services into outputs 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 more processes 2 | P a g e Supply Chain : An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers Manufacturing Process : Physical, durable output Output can be inventoried Low customer contact Long response time Capital intensive Quality easily measured Service Process : Intangible, perishable output Output cannot be inventoried High customer contact Short response time Labor intensive Quality not easily measured Competitive Priorities : Cos