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A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels ...
APICS defines S&OP as the "function of setting the overall level of manufacturing output (production plan) and other activities to best satisfy the current planned levels of sales (sales plan and/or forecasts), while meeting general business objectives of profitability, productivity, competitive customer lead times, etc., as expressed in the ...
Business process – is a collection of related, structured activities or tasks that produce a specific service or product (serve a particular goal) for a particular customer or customers. There are three types of business processes: Management processes, Operational processes, and Supporting processes.
To manage its business from a process based perspective, an organisation requires to understand what defines the process and which activities they consist of. A business consists of different departments in charge of specific jobs or functions. Therefore, the processes support these managerial sectors and transform successful outputs.
A business reference model is a means to describe the business operations of an organization, independent of the organizational structure that perform them. Other types of business reference model can also depict the relationship between the business processes, business functions, and the business area's business reference model. These ...
The real output is the real value of products produced in a production process and when we subtract the real input from the real output we get the real income. The real output and the real income are generated by the real process of production from the real inputs. The real process can be described by means of the production function.
The name of the warehouse is a plural noun (e.g. orders)—it derives from the input and output streams of the warehouse. The warehouse does not have to be just a data file but can also be, for example, a folder with documents, a filing cabinet, or a set of optical discs.