Automation in the Acquisition Cycle (Comprehensive)

question 71

Essay

Automation in the acquisition cycle (comprehensive)
As the acquisition of materials,equipment and services continues to be facilitated by automation,certain benefits and controls result.Discuss the use of computerized processes and specific controls that should be implemented in the electronic acquisition cycle.

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Definitions:

Information Goods

Products that can be delivered digitally and are primarily composed of or characterized by informational content.

Total Logistics Costs

Encompass all expenses related to the planning, implementing, and controlling of the efficient flow and storage of goods, services, and related information.

Supply Chain Network

An infrastructure of businesses, staff, processes, insights, and support systems designed to move a product or service from its source to the consumer.

Facility Costs

Expenses associated with operating physical buildings such as warehouses and factories, including rent, utilities, and maintenance.