Define ERP. What is the primary purpose of an ERP system?
What will be an ideal response?
Enterprise resource planning (ERP) is a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computing platform. An ERP system is an information system based on ERP technology. The primary purpose of an ERP system is integration; an ERP system allows the left hand of the organization to know what the right hand is doing. This integration allows real-time updates globally, whenever and wherever a transaction takes place. Critical business decisions can then be made on a timely basis using the latest data.
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The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix?
A. process B. people C. price D. product E. place
Items acquired that either become a part of the finished product or are used in the process of manufacturing the finished product are known as
a. materials. b. work in process. c. finished goods. d. cost of goods sold.
Which of the following costs changes in direct proportion to a change in the activity level?
A. Variable cost. B. Semivariable cost. C. Step-fixed cost. D. Step-variable cost. E. Fixed cost.
A selection ratio of 0.20 for example means that __________ percent of the applicants will be selected.
A. 0.2 B. 2 C. 20 D. 80