The Five Forces Model Was Developed by Michael Porter

question 44

True/False

The Five Forces model was developed by Michael Porter.

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Definitions:

ERP

A kind of software known as Enterprise Resource Planning is employed by organizations to oversee routine business functions like accounting, procurement, project management, and manufacturing.

SCM

The administration of the process by which materials, information, and financial assets move from suppliers to producers, followed by wholesalers and retailers, and concluding with the consumer, is what constitutes Supply Chain Management.

POM

Production and Operations Management, which focuses on the process of producing goods and managing the operations of a manufacturing or service organization.

Supply Chain

The entire system of producing and delivering a product or service, from the raw material stage to the final customer.