Term is commonly used to refer to a collection of companies and processes involved in moving a product from the suppliers of raw materials to the customer.\/244171694/ist-exam-3-cha pter-8-flash-cards/

Supply chain

Explanation:

A supply chain is a network of steps involved in the production and delivery of products to a customer. The supply chain process starts with raw materials acquisition, the manufacturing process, and the distribution of products to the point of sale. The supply chain systems will include all the people, entities, technology, and structures that take part from creating to the sale of a product.

The supply chain affects the final price of a product.  A poorly managed supply chain is costly and will lead to products being expensive. An efficient supply chain ensures a company's products are always available to customers, and at a fair price.