MODULE 1

Question 1

WHAT ARE THE 4ms OF PRODUCTION

Answer 1

Machine, Manpower, Materials, Method

Question 2

Discusses about manufacturing equipment used in the production of goods or delivery of services.

Answer 2

Machine

Question 3

Talks about human labor force involved in the manufacture of products. It is measured as the most serious and main factor of production

Answer 3

Manpower

Question 4

Talks about raw materials necessary in the production of a product.

Answer 4

Materials

Question 5

Production method discusses the process or way of transforming raw materials to finished products.

Answer 5

Method

Question 6

is to provide customers with details around the features and benefits of the product so they’re obliged to buy.

Answer 6

Product Description

Question 7

An entity that offers goods and services to another business. This entity is among of supply chain of a business, which may offer the main part of the value contained within its products

Answer 7

Supplier

Question 8

is a method or activities by which a company adds value to an item, with production, marketing, and the provision of after-sales service.

Answer 8

Value chain

Question 9

is a structure of organizations, people, activities, data, and resources involved in moving a product or service from supplier to customer.

Answer 9

Supply Chain

Question 10

Functions of supply chain are

Answer 10

1. Product development
2. Marketing
3. Operations
4. Distribution
5. Finance
6. Customer service

Question 11

is an important tool for you to have an idea about the future of your
business.

Answer 11

Business Plan