Enterprise-Resource Planning Software

question 153

Multiple Choice

Enterprise-resource planning software:

• A) Refers to programs that help manage a company's vital operations.
• B) Is another name for spreadsheet programs.
• C) Uses batch processing of business information.
• D) Is substantially declining in use.
• E) Is another name for database programs.

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Definitions:

Single Sourcing

The procurement practice of acquiring goods or services from one selected supplier.

Buyer-Specific Investment

Investments made by a company tailored to the needs or specifications of a single buyer, often to strengthen the business relationship or secure long-term contracts.

Procurement Goal

Objectives set by an organization’s procurement department focusing on acquiring goods and services to meet its needs in terms of quality, quantity, timing, and cost.

Total Cost

The complete cost of producing and delivering a product or service, including material, labor, overhead, and any other direct or indirect costs.