For each statement below, indicate the management tool being implemented. 1. A company places equal emphasis on financial and non-financial performance measures.
2. Goal is to get the right product to the right location, in the right quantities, at the right time, and at the right cost.
3. Performance measures are grouped into financial, customer, internal business processes, and learning and growth categories.
4. Focuses on reducing waste and inefficiency.
5. Examples of such a system include SAP and Oracle.

1. Balanced scorecard

2. Supply chain management

3. Balanced scorecard

4. Just-in-time (JIT)

5. Enterprise Resource Planning (ERP).

Explanation:

1. Balanced scorecard: A company places equal emphasis on financial and non-financial performance measures. The balance scorecard is a performance metrics used for measuring and assessing the quality of performance of a company

2. Supply chain management: Goal is to get the right product to the right location, in the right quantities, at the right time, and at the right cost. Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

3. Balanced scorecard: Performance measures are grouped into financial, customer, internal business processes, and learning and growth categories.

4. Just-in-time (JIT): Focuses on reducing waste and inefficiency. Just-in-time (JIT) is a management framework that is focused on cutting manufacturing costs and increase efficiency between suppliers and consumers through the use of a proper inventory system.

5. Enterprise Resource Planning (ERP): Examples of such a system include SAP and Oracle. Enterprise Resource Planning (ERP) is a business strategy process where organizations manage and integrate the main parts of their day-to-day business activities by using software applications. The ERP software system is used to integrate planning, accounting, finance, marketing and human resources.

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