The ERP System Provides a Single Interface

question 116

Multiple Choice

The ERP system provides a single interface:

• A) to operations only.
• B) to operations and inventory control only.
• C) to external members of the supply chain as well.
• D) to the company management structure only.
• E) to customers only.

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Definitions:

Monte Carlo Analysis

A statistical technique that uses random sampling and numerical experiments to estimate mathematical functions and simulate the behavior of complex systems.

Cumulative Probability Distribution

The accumulation of individual probabilities of a distribution.

Random Numbers

Random numbers are sequences of digits (usually between 0 and 1) generated in such a way that each number has an equal probability of occurring, commonly used in simulations and statistical sampling.

Cumulative Probability Distribution

A statistical function that describes the probability of a random variable falling within a certain range or being less than a specific value.