If You Want to Implement an ERP System but Cannot

question 25

Multiple Choice

If you want to implement an ERP system but cannot afford to make large investments in IT, ________ ERP is a good solution.

• A) best-of-breed
• B) custom
• C) SaaS
• D) vanilla

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Definitions:

Standard Deviation

A statistical measure of the dispersion or variability in a dataset, often used to quantify the risk of a financial instrument.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

Supply Curve

A graphical representation of the relationship between the price of a product and the quantity of the product that a supplier is willing and able to supply, holding all other factors constant.