2nd Semester Flashcards
referred to as the transformation or conversion process
Production Process
human labor force involved in the production of products
Manpower
most serious and main factor of production
Manpower
the raw materials necessary in the production of a product
Materials
manufacturing equipment used in the production of goods or delivery of services
Machine
way of transforming raw materials to finished products
Method
physical output of the whole production process
Products
have dissimilar characteristics, parts, and physical appearance
Heterogeneous Products
have a physical appearance, taste, or chemical, content that can hardly be distinguished from that of the other products
Homogeneous Products
promotes and explains what a product is and why it’s worth buying
Product Description
is a duplication of a product as it will be produced
Prototype
without them, all the efforts will be wasted as well as the chance to venture into a new business
Customer
the business partners
Suppliers
the process in which business receive raw materials, add value to them through production, manufacturing, and other processes to create a finished products
Value Chain
represents the steps it takes to get the product or service to the customer
Supply Chain
