Data for a Factory -
Real-Time IT Systems (EDI, ERP and Internet) Have the

question 45

Multiple Choice

Data for a factory
$\begin{array}{ll}\text { Total factory cost } & £ 10,000 \\\text { Total time au ailable on key resource (hours) } & 2,500 \\\text { Contribution per unit product A } & £ 34.00 \\\text { Contribution per unit product B } & £ 30.00 \\\text { Contribution per unit product C } & £ 22.00 \\\text { Contribution per unit product D } & £ 20.00 \\\text { Hours required product A } & 12.0 \\\text { Hours required product B } & 6.0 \\\text { Hours required product C } & 6.0 \\\text { Hours required product D } & 8.0\end{array}$

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Real-time IT systems (EDI, ERP and Internet) have the following important supply chain implications

• A)Recognition that the cost of acquiring goods and services includes more than just quoted piece price
• B)Locked in cost issues may affect suppliers
• C)Sharing of cost and output data enables benefits of partnership sourcing.
• D)Synchronisation of production plans

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Definitions:

Probability

A measure quantifying the likelihood that an event will occur, expressed on a scale from 0 (impossible) to 1 (certain).

Observing

The action of closely monitoring or paying attention to phenomena, behaviors, or events.

Resample

The process of selecting a new sample from an original dataset, possibly with replacement, to conduct statistical analysis or bootstrap estimates.

Distinct Resamples

Unique subsets or reselections of data from a set, used in bootstrap or other resampling methods to estimate variability.