Entrepreneurship Module 4

Pertains to the interrelated business functions of production, procurement, and distribution of the goods/services

• Supply Chain Management
• Operations

Refers to the process of manufacturing a product or producing a service to be offered to target customers.

• Production

• Procurement

Refers to sourcing supplies required for production or service delivery, including the proper handling and storage of the inventory goods.

• Procurement

• Acquisition

Refers to the physical transport of materials and communications involved in reaching the target customers.

• Logistics

• Distribution

Which of the following is not included in the 4M's of Business?

• Methods

• Manufacturing

• Manpower

• Materials

Pertains to all supplies and materials necessary to produce your product or perform your service.

• Manpower

• Machine

• Materials
• Methods

Discusses about manufacturing equipment used in the production of goods or delivery of services.

• Machinery

• Machine

Refer to the clear, detailed, and well-organized procedures or systems involved in production. Includes the step-by-step procedures in making your product or service, which you have carefully studied before doing them.

• Plan

• Methods

Pertains to the workforce needed to perform the operations’ functions.

• Manpower

• Human Resources

It is measured as the most serious and main factor of production

• Machine

• Manpower