Discuss the Various Costs Associated with the Implementation of an ERP

question 11

Essay

Discuss the various costs associated with the implementation of an ERP system for a large company and for a midsize company.How long does implementation take?

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Definitions:

Revenues

The sum of money a business acquires from selling goods or offering services over a certain time frame.

Households

Economic units that represent all individuals living in a single dwelling, sharing income and expenses; primary consumers in the economy.

Centrally Planned Economies

Economic models in which all decisions about what to produce and how to distribute goods and services are made by the government or a central body.

Resource Allocation

The process of assigning and distributing available resources to various uses in the most efficient way.