Firms Should Consider Preparing a Software Prototype If the Software

question 48

Multiple Choice

Firms should consider preparing a software prototype if the software

• A)will be used for a critical function like accounts receivable.
• B)automates an unstructured or semi-structured task.
• C)can be produced using expertise available in-house.
• D)is available as a canned package.

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Definitions:

Transit Time

The total time taken for goods to be transported from the point of origin to the destination.

Replenishment Lead Time

The duration between placing an order for additional stock and its delivery, crucial for inventory management and avoiding stockouts.

Popinjay Products

Refers to products offered by the brand Popinjay, often implying a focus on vibrant and distinctive offerings. If no such brand exists, this could be considered a fabricated term.

Annual Holding Cost

The total expenses associated with storing unsold goods or materials for a year, including warehousing, insurance, depreciation, and obsolescence costs.