__________Applications Are Used to Control and Manage Inventory

question 25

Multiple Choice

__________applications are used to control and manage inventory.

• A) Inventory management
• B) Manufacturing scheduling
• C) Order management
• D) Manufacturing operations

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Definitions:

Confirmation Bias

The bias towards finding, interpreting, prioritizing, and reminiscing on details in a manner that affirms and supports one's prior beliefs or assumptions.

Groupthink

this is a psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

False Consensus Effect

is a cognitive bias where individuals overestimate how much others agree with their beliefs, attitudes, or behaviors.

Escalation Behavior

The phenomenon where individuals or groups continue to invest in a decision despite evidence of its ineffectiveness or failure.