Value Chain Management Is the Specific Sequence of Activities That

question 94

True/False

Value chain management is the specific sequence of activities that creates products and services with value for customers.

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Definitions:

Pounds

Often refers to a unit of weight used primarily in the British imperial and United States customary systems.

Materials Variance

The difference between the actual cost of materials used in production and the expected (standard) cost of those materials.

Price Variances

The difference between the actual cost of a good or service and its standard or expected cost, which can be favorable or unfavorable.

Quantity Variances

Differences between the actual quantity of materials or inputs used in a production process and the standard quantity expected to be used, often leading to cost variances.