Final answer:
The key processes at the heart of the supply management segment of the business include product selection, production process, output level, pricing, and labor management.
Step-by-step explanation:
The key processes at the heart of the supply management segment of the business include:
- Product selection: Deciding what products the firm should produce to meet customer needs and wants.
- Production process: Determining how the products should be produced, considering factors like technology, resources, and cost.
- Output level: Deciding how much output the firm should produce to supply the market demand.
- Pricing: Determining the appropriate price for the firm's products, considering factors like competition and customer willingness to pay.
- Labor management: Deciding how much labor the firm should employ to ensure efficient production.