Answer each in 450 words with references:
Question 1: What does the product life cycle have to do with understanding the data? Explain an ERP and at least three advantages to an ERP. In what specific ways can hospitals improve their collaboration with key vendors?
Question 2: What are some of the key trends that are evolving in healthcare operations management? How are systems and technology streamlining the operations within the departments that are support services? How is healthcare reform impacting the operations management of healthcare organizations?
Question 3: Compare and contrast a flexible budget and a forecast budget. When would you choose to use each type of budget?
Question 4: What are the current trends in consolidations, mergers and acquisitions within the past few years? What is expected in the future? What are some of the opportunities and risks associated with these types of changes?