Exchanging information to reduce costs, speed delivery, and improve quality is best described as
A) ERP.
B) JIT.
C) Supply-chain management.
D) TQM.

Question

Quizplus · Accepted Answer

Supply-chain management involves the exchange of information between different stages of the supply chain in order to reduce costs, speed delivery, and improve quality. ERP (Enterprise Resource Planning) is a software system that integrates different departments within a company, while JIT (Just-in-Time) is a production strategy that emphasizes on-demand delivery of products. TQM (Total Quality Management) is a management approach aimed at improving the quality of products and processes in an organization. However, none of these concepts specifically focus on exchanging information to improve supply chain performance, which is the key aspect of supply-chain management.

Exchanging Information to Reduce Costs, Speed Delivery, and Improve Quality