Management of the Value Chain Requires

question 44

Multiple Choice

Management of the value chain requires:

• A) no analysis of the system.
• B) efficient systems.
• C) periodic analysis of the system.
• D) flexible manufacturing systems.
• E) six sigma qualification.

---

Definitions:

Checks

Checks are written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated party.

Bank

A financial institution licensed to receive deposits and make loans.

Lockbox System

A service provided by banks to process payments quickly by having those payments mailed directly to a location accessible by the bank.

Collection Time

The average period it takes a company to receive payments owed by its customers, reflecting its efficiency in managing credit and collecting debts.