The Typical Functions of the Production and Conversion Includes

question 64

Multiple Choice

The typical functions of the production and conversion includes

• A)cash payments for raw materials purchased.
• B)inventory planning and control.
• C)purchase requisitioning and purchase ordering for inventory.
• D)receiving of inventory shipments from vendors.

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Definitions:

Support Activity

Activities within an organization that assist in providing value to customers but do not directly contribute to the primary product or service.

Inbound Logistics

Inbound Logistics refers to the transport, storage, and delivery of goods coming into a business, an essential component of supply chain management, focusing on receiving and handling materials and supplies.

Competitive Forces Model

A business framework devised by Michael Porter that analyzes competitiveness by recognizing five major forces that could endanger a company’s position.

Value Chain Model

Model that shows the primary activities that sequentially add value to the profit margin; also shows the support activities.