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) :

Question

Business

Kadence Fletcher

19 March, 14:33

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) :

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Mireya Lara · Answer 1

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.