This Is an Approach That Links a Company with Providers

question 19

Multiple Choice

This is an approach that links a company with providers of the raw components it needs to make a product or service, manufacture that product or service, and delivers it to customers.

• A) Customer Relationship Management (CRM)
• B) Supply Chain Management (SCM)
• C) Product Lifecycle Management (PLM)
• D) Enterprise Resource Planning (ERP)
• E) Value Chain Management (VCM)

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Definitions:

Skilled Labour

Workers who have specialized training or expertise in a particular field or job.

Sunk Cost

Any cost that has already been incurred and that cannot be changed by any decision made now or in the future.

Obsolete Desk Calculators

Desk calculators that are no longer considered efficient or useful due to advancements in technology or changes in user needs.

Inventory

The total amount of goods a company has in stock, including raw materials, work-in-process, and finished goods.