ECON 1 Lecture Notes - Lecture 11: Technical Analysis, Bar Chart, Extra Challenge
Document Summary
Scm chapter 4: business processes: business processes. Process: set of logically related tasks or activities performed to achieve a defined business outcome; can be physical (manufacture & delivery of goods to customer), informational (registering for college courses) or monetary (payment to supply chain partner for services) Primary process: process that addresses main value-added activities of an organisation (providing service, educating customers, manufacturing) Support process: process that performs necessary, but not value-added activities (evaluating suppliers, recruiting new workers, developing sales & operations plan s&op) 1. 1 improving business processes: even if organisation does not feel need to improve process, it may be forced due to 1) competitive pressures 2) demanding customers, mapping business processes. Mapping: process of developing graphic representations of organisational relationships and/or activities that make up business process. Mapping has 3 purposes: creates common understanding of content of process (activities, results, participants, defines boundaries of process, provides baseline against which to measure impact of improvement efforts.