What is an enterprise resource planning erp system what are

Question

1. What is the value chain? Describe, in sequence, the main components of a manufacturer's value chain.

2. What is an enterprise resource planning (ERP) system? What are its primary benefits?

3. Why is product quality important for companies that implement a just-in-time inventory system?

4. Explain what is meant by "balanced" in the balanced scorecard approach.

5. What is activity-based costing, and what are its potential benefits?

Answer 1

There is few questions that you need to give response of all as per given assignment 1. What is the value chain? Illustrate, in sequence, the major components of a manufacturer's value chain. 2. What is an enterprise resource planning (ERP) system? What are its primary advantages? 3. Why is product quality significant for companies which implement a just-in-time inventory system? 4. Describe what is meant via "balanced" in the balanced scorecard approach.