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In 2014, Creative Design, Inc., instituted a quality improvement program. At the end of 2015, the management of the corporation requested a report to show the amount saved by the measures taken during the year. The actual sales and actual quality costs for 2014 and 2015 are as follows:
Required:
FAIS
An acronym standing for Financial Advice and Intermediary Services, regulations aimed at protecting consumers by governing the provision of financial advice and intermediary services.
Information Silos
Isolated islands of data or information managed separately within an organization, leading to inefficiency and lack of synergy.
ERP
Enterprise Resource Planning, a type of software that organizations use to manage day-to-day business activities.
Core ERP Modules
Fundamental components of an ERP system catering to critical business functions including finance, human resources, inventory management, and sales.
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