Final answer:
A knowledge management system is a central source of up-to-date information that facilitates personnel training and improvement.
Step-by-step explanation:
The central source of up-to-date information for all personnel in the performance of their work, and an excellent source of reference information to facilitate personnel training and individual improvement, is a knowledge management system. A knowledge management system is a tool or software that allows organizations to capture, store, organize, and distribute knowledge and information within the company. It provides a centralized platform where employees can access the latest information, best practices, and resources to support their work.