A Commonly Used Computerized Means of Integrating Order Processing with Production

question 27

Multiple Choice

A commonly used computerized means of integrating order processing with production, inventory, accounting, and transportation is

• A) web-based inventory management.
• B) just-in-time.
• C) electronic data interchange.
• D) universal product codes.
• E) activity-based management.

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Definitions:

Increasing Returns

A situation in production where an increase in the amount of inputs results in a disproportionately larger increase in output.

Production Isoquant

A curve that represents all combinations of inputs that produce the same level of output, used in the analysis of production technology.

Marginal Products

The additional output that is produced by using one more unit of a particular input, holding other inputs constant, critical in the analysis of production efficiency.

Profitability

A measure of the efficiency with which a company or a business utilizes its resources to generate profits.