When One of the Following Statements Is True

question 80

Multiple Choice

When one of the following statements is true?

• A)ERP evolved directly from MRP.
• B)ERP evolved into MRP and MRP evolved into MRP II.
• C)MRP II evolved from MRP and MRP II evolved into ERP.
• D)None of the above is true.

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Definitions:

Cost Management

The process of planning and controlling the budget of a business or project, focusing on reducing costs and maximizing value.

Cost Savings

The reduction in expenses achieved through efficient management, negotiation, process improvements, or other means, contributing to increased profitability.

Cost Reductions

Efforts made to lower operating expenses and production costs without compromising quality or performance.

Cost Avoidance

Involves actions taken to prevent or reduce potential increases in costs, helping to control future expenses without necessarily resulting in immediate savings.