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Learning Goal: I’m working on a software development multi-part question and need an explanation and answer to help me learn.
Provide the difference between Slack time and Cycle-time efficiency. There are how many ways to compute the Cycle time? Explain only one way.
Explain the difference between direct costs, indirect costs, fixed costs, and variable costs, provide a real-world example explaining each of the above. (Every student should provide a different example).
Suppose there is a company that does all the work manually and has a particular system in each department. After spending a period of time, they wanted to automate all the company’s functions and operations, and they decided to apply the Enterprise Resource Planning (ERP) system to their organization.
Why did they determine to use the Enterprise Resource Planning (ERP) system instead of manually working? Based on scenario in question 3, what are the Enterprise Resource Planning (ERP) benefits, and why they found it essential?