What role do ERP systems play in management operations?

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AThey integrate finance, HR, supply chain, and operations into one platform

BThey handle repetitive manual tasks only

CThey replace all human employees

DThey only track marketing campaigns

Answer:

ERPs like SAP and Tally centralize diverse business functions such as payroll, invoicing, and reporting to boost operational efficiency, as seen in Toyota's lean manufacturing.

Related Questions:

Identify the key components of a system as described in the Systems Approach to Management.

Input, Process, Output, Feedback, and Environment are the fundamental elements.
Only Input and Output are considered crucial components.
Environment and Feedback are external factors not integral to the system's core.
Process is the transformation phase where inputs are converted into outputs.