INMT 341 Study Guide - Midterm Guide: Accounts Receivable, Business Process, Credit Manager
Document Summary
The title real is an acronym for resources, events, agents, and locations. What distinguishes a core primary process form a supporting process in the value chain. Primary activities are directly concerned with the creation or delivery of a product or service. They can be grouped into five main areas: inbound logistics, operations, outbound logistics, marketing and sales, and service. Each of these primary activities is linked to support activities which help to improve their effectiveness or effi- ciency. There are four main areas of support activities: procurement, technology development (includ- ing r&d), human resource management, and infrastructure (systems for planning, finance, quality, information management etc. All activities add value all activities at the end should add enough to cover the cost of adding the value = margin. A business process is a collection of related activities that combine different inputs to create an output that is of value to the organization, its stake holders or its customers.
