You Have Been Asked to Create a Product System for Your

question 102

Essay

You have been asked to create a product system for your company's personal digital assistant. Before starting, you must define the term product system to the engineers to enable them to start design and production of the aligned items. Define the concept of a product system.

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Definitions:

Replenishment

Replenishment involves the process of restocking goods or materials in inventory to maintain adequate levels to meet consumer demand or operational needs.

Bank Reconciliation

Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement to ensure they are in agreement.

NSF Check

A check that cannot be processed because the account it's drawn on does not have sufficient funds.

Outstanding Checks

Checks that have been written and recorded in the paying entity's accounting system but have not yet been cashed or cleared by the bank.