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Distinguish Between ERP and TPS; Briefly Detail How These Systems

question 6

Essay

Distinguish between ERP and TPS; briefly detail how these systems support the entire organization.


Definitions:

Mark-up

The margin calculated by subtracting the cost of a product or service from its sale price, then dividing by the cost, expressed as a percentage.

Retail Price

The price at which goods are sold to the public, typically higher than the wholesale price.

Mark-up

Increment on the buying price of products targeted to offset operational costs and profits.

Selling Price

The price at which a product or service is sold to the consumer.

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