When a Business Wants to Achieve Efficiencies in Supply Chain

question 29

True/False

When a business wants to achieve efficiencies in supply chain management, they will often use software packages called enterprise resource planning systems software that support information systems across a number of functions.

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Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used by everyone and one person's use does not reduce its availability to others.

Marginal Costs

The increase in total cost that arises from producing one additional unit of a good or service.

Marginal Benefits

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Net Benefit

The total benefits of a decision or action minus the total costs associated with that decision or action.