Operations

3. Involves selecting suppliers and establishing payment terms.
6. Also known as the vendor
7. Buying and selling of goods online.
9. All the businesses and activities involved in providing a business with the materials and resources needed to create a good for sale.
13. The process of redesigning a company’s processes to increase efficiency, improve quality, and reduce costs
14. The person who uses the product or service.
16. The action of making the best or most effective use of a situation or resource.

1. The process of gathering, analysing and processing data relevant to marketing decisions.
2. An approach to production that focuses on minimising waste
4. Making predictions about the future
5. The process of deciding on the timing and use of resources within an operation
8. The process of turning inputs into finished products
10. The person who buys the product or service
11. A measure of the number of goods or services that are sold.
12. Dividing a market into different groups of needs and wants
15. A statistical technique used to analyze and improve processes by identifying and removing sources of variation