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An organisation is reviewing its decision-making information systems and has asked you to recognize suitable assessment criteria for this review.
Value for money. Value for money offered by the information systems that make decision making information is a relevant criterion. Value for money is often expressed as the 3 Es - Economy, Efficiency and Effectiveness.
Cost. Ongoing cost of the existing system is obviously a important criterion especially when set against other factors like as other organisational investments.
Timeliness. Information must be given to decision-makers in sufficient time for it to be used in the decision-making process.
Relevance. Information requires to be relevant to the decision being made by decreasing uncertainty and enhancing knowledge about that decision.
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You are considering shortly opening a copier serving center near a university. Your estimate of fixed cost is at $15,000 a year and the variable cost for every copy made is $0.01.
what strategic alternatives followed by Tangy spices ltd?
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Would you recommend changing to the optimal order interval?
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