____ Is the Process of Managing Operations Control,resource Acquisition and Purchasing,and

question 24

Multiple Choice

____ is the process of managing operations control,resource acquisition and purchasing,and inventory to thus improve overall efficiency and effectiveness.

• A) Supply-chain management
• B) Resource management
• C) Inventory management
• D) Quality control
• E) Productivity control

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Definitions:

Produced

The quantity of goods or services created by a business or production process within a certain period.

Actual Costs

The real costs incurred in the production, acquisition, or realization of goods and services, as opposed to estimated or standard costs.

Direct Materials Price Variances

The difference between the actual cost of direct materials and the standard cost, used to measure cost management efficiency.

Quantity Variances

Differences between the expected and the actual amount of materials, labor, or overhead used in production.