Chapter 18, Problem S18.11SE

To determine

E-Commerce: Also known as electronic commerce e-commerce means making use of computers and internet technology to conduct business. Purchase, sale and all the other functions of business take place electronically. E-commerce can be consumer to consumer (C2C), business to business (B2B), consumer to business (C2B) and business to consumer (B2C).

Just in Time (JIT): Just in time is an inventory management method in which only that much inventory is maintained which is required for the production. No stock is held, thus reducing the carrying cost.

Enterprise Resource Planning (ERP): ERP helps in integration of organizational functions like sales, human resource, purchase etcetera. Nowadays ERP software has been developed to automate business processes.

Total Quality Management (TQM): It aims at achieving long term benefits by making the organization customer and process oriented, integrating the organizational activities and delivering the best quality of products and services.

Triple bottom line: This concept has broadened the scope of financial statement from being restricted to financial aspects by including in it the social aspects. Environment, social responsibility and economic value are the other three aspects which have been included in this concept.

To Identify: The correct match for the given statements.