Technology Both Complicates Things and Creates New Opportunities

question 103

Multiple Choice

Technology both complicates things and creates new opportunities. The challenges come from

• A) the rapid rate at which communication occurs.
• B) the lack of transportation.
• C) inaccurate information.
• D) unchanging technologies.
• E) the limit on new opportunities.

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Definitions:

Just-In-Time (JIT)

An inventory management system where materials are produced or received only as necessary to meet demand, reducing waste and costs.

Activity-Based Costing (ABC)

Activity-Based Costing (ABC) is a costing methodology that assigns costs to activities based on their use of resources, offering more precise costing information.

Supplier Performance Index

This index assesses a supplier's efficiency by analyzing their delivery times, quality of goods, and adherence to contractual agreements, providing a comprehensive overview of their performance.

Suppliers

Entities that provide goods or services to another entity, typically in a supply chain context.