Question

____ is a network of facilities and processes that describes the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.

a. product-process matrix
b. product life cycle
c. value chain
d. business cycle

Answer 1

The value chain is a network of facilities and processes that describe the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer. The correct answer is option C

Step-by-step explanation:

The value chain is a network of facilities and processes that describe the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.

For example, in the pizza-making process, the value chain includes the suppliers of flour, water, yeast, tomatoes, spices, and other ingredients. The facilities and processes involved in creating the pizza are the pizzaiolo, cook, and oven. Finally, the delivery of the pizza to the customer completes the value chain.