Question: Please provide some examples of how companies are using what is covered in this module in the real world. Are they using software to complete

Please provide some examples of how companies are using what is covered in this module in the real world.

Are they using software to complete the tasks? If so, what types of software? Are their competitors using something similar?

Document your sources.

This would be in regards to:

  1. List the Steps of the decision-making process
  2. Describe the types of decision making environments
  3. Use probability values to make decisions under risk
  4. Revise probability estimates using Bayes Theorem
  5. Use the economic order quantity (EOQ) to determine how much to order
  6. Compute the reorder point
  7. Determine the safety stock needed
  8. Apply ABC Analysis and enterprise resource planning

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