What Does Enterprise Resource Planning Involve

question 67

Multiple Choice

What does enterprise resource planning involve?

• A) Analyzing and redesigning of workflow within and between enterprises
• B) Managing information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
• C) Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
• D) Integrating all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations

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Definitions:

Alternatives

Other options or choices available to decision-makers apart from the one currently under consideration.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change.

Economic Analysis

A systematic approach to examining the allocation, distribution, and use of resources, often involving trade-off assessments and opportunity cost considerations.

Single Factor

A term in economics and production referring to the focus on one variable or input while analyzing its impact on an output or outcome.