QUESTION 16 Before a firm can identify the information needed to effectively manage a process, the firm must O purchase computers and/or workstations O obtain internet access O hire an outside consultant o understand the process. QUESTION 17 The traditional approach to inventory management generally involves O maintaining inventory levels so that production can continue oven if inventory use is greater than expected high stockout costs receiving goods or services just prior to the time they are needed. o minimizing item cost. QUESTION 18 Transaction cycles can be summarized on a high level as "give-ger transactions. An example of "give get in the revenue cycle would be O give cash get cash give cash, get labor. give goods, get cash give cash, get goods