Major Processes Found in most Manufacturing andService FirmsThere are rarely more than ten major processes within any firm, and most have around four. There are even fewer core processesManufacturing FirmsStrategy Development. Converts market requirements into a business strategy, which identifies markets to be served and products and services to be offered.New Product Development: Concept to Prototype. Takes the outputs produced by strategy development as input in order to produce new product designs.Customer Acquisition: prospect to order. Takes customers who initially know nothing about a product to the point where they submit an order.Order Fulfillment: order to payment. This is the company’s payoff. Order fulfillment converts an order request, a product design, and a factory into a product that is delivered into a customer’s hands.Service: inquiry to resolution. Starting at the point where order fulfillment left off, this process provides support for the product and service to the customer who bought it.Supply Chain Management. This process includes sourcing and selection of suppliers, supplier development and maturity.Not so major processes includeAccounts payableAccounts receivableInventory controlMajor processes engaged in by manufacturing and service firms – page 1 of 2 –10/14/06Service FirmsStrategy Development. Converts market requirements into a business strategy, which identifies markets to be served and products and services to be offered.New Service Development: Concept to Prototype. Takes the outputs produced by strategy development as input in order to produce new product designs.Customer Acquisition: prospect to order. Takes customers who initially know nothing about a product to the point where they submit an order.Order Fulfillment: order to payment. This is the company’s payoff. Order fulfillment converts an order request, a product design, and a factory into a product that is delivered into a customer’s hands.Service: inquiry to resolution. This process includes sourcing and selection of suppliers, supplier development and maturity.Not so major processes includeAccounts payableAccounts receivableInventory controlThere is remarkable similarity between service firms and manufacturing firms, insofar as major processes are concerned.Major processes engaged in by manufacturing and service firms – page 2 of 2