Process mapping is a tool that reduces processes to their component parts or activities and helps identify and then eliminate non-value-added activities, (waste) or delays within a process. Process mapping is valuable in purchasing, especially when attempting to streamline the flow of material or information between suppliers and a purchaser.

Process mapping is a tool that reduces processes to their component parts or activities and helps identify and then eliminate non-value-added activities, (waste) or delays within a process. Process mapping is valuable in purchasing, especially when attempting to streamline the flow of material or information between suppliers and a purchaser.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter10: Strategy: The Quest To Keep Profit From Eroding

Section: Chapter Questions

Problem 4MC

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