MIS 245 - Exam 3 Questions with Correct Answers Latest Update 2026/2027
ERP System - Answers Suite of integrated software modules using a common central database
to support internal business processes.
How ERP Works - Answers Data entered in one department becomes immediately available
across the organization in real time.
ERP Business Value - Answers Up-to-minute data, standardized processes, better forecasting,
global consistency.
Supply Chain - Answers Network linking suppliers, manufacturers, distributors, retailers, and
customers with flows of materials, information, and payments.
SCM Planning Software - Answers Models supply chain, creates demand forecasts, optimizes
sourcing, manufacturing, storage, and delivery.
Just-in-Time - Answers Produces goods only when needed to reduce inventory costs.
Safety Stock - Answers Extra inventory maintained as a buffer against uncertainty.
CRM Software Packages - Answers Tools for sales, marketing, and customer service; capture,
consolidate, analyze customer data.
CRM Business Value - Answers Increased customer satisfaction, reduced marketing cost,
identifies profitable customers, increases sales.
Major CRM Vendors - Answers Oracle, SAP, Salesforce, Microsoft Dynamics.
Microsoft (AI & Enterprise Apps) - Answers Offers CRM and ERP (Dynamics 365) with Copilot AI
assistant.
Salesforce (AI & Enterprise Apps) - Answers CRM cloud provider; uses Einstein GPT for
generative AI.
Ubiquity - Answers Available everywhere; reduces transaction and search costs.
Global Reach - Answers Technology reaches consumers worldwide.
Universal Standards - Answers One Internet standard lowers entry & search costs.
Richness - Answers Supports video, audio, text, and interactive messaging.
Interactivity - Answers Two-way communication between consumer and merchant.
Information Density - Answers Increased quantity/quality of info; supports transparency.
Personalization/Customization - Answers Tailored content, ads, and buying experiences.
, Social Technology - Answers Enables user-generated content and social interactions.
B2C - Answers Selling to individual consumers (Amazon).
B2B - Answers Firms selling to other firms (Grainger).
C2C - Answers Consumers selling to consumers (eBay).
Online Retailer - Answers Sells physical/digital goods.
Transaction Broker - Answers Processes transactions (Expedia).
Market Creator - Answers Connects buyers and sellers (Uber, Airbnb).
Content Provider - Answers Provides digital content.
Service Provider - Answers Online services (fintech, insurtech).
Community Provider - Answers Social networks.
Portal - Answers Provides access point to web services.
Advertising Revenue Model - Answers Earns money from ads shown to users.
Subscription Model - Answers Users pay recurring fee for content/services.
Freemium Model - Answers Basic features free; premium features paid.
Transaction Fee Model - Answers Fees collected for enabling transactions.
Affiliate Model - Answers Earns commission for steering customers to partners.
Behavioral Targeting - Answers Tracks clickstream behavior to deliver interest-based ads.
Native Advertising - Answers Ads designed to appear like editorial content; tagged "sponsored."
EDI - Answers Computer-to-computer exchange of standard business documents.
B2B Exchange - Answers Third-party marketplace connecting many buyers/sellers for spot
purchasing.
B2B Growth - Answers Expected to reach ~$8.9 trillion by 2028.
Machine Learning - Answers Uses mathematical models to learn from data without explicit
programming.
Supervised Learning - Answers Model trained with labeled input-output pairs.
Unsupervised Learning - Answers Algorithm finds patterns in unlabeled data.
ERP System - Answers Suite of integrated software modules using a common central database
to support internal business processes.
How ERP Works - Answers Data entered in one department becomes immediately available
across the organization in real time.
ERP Business Value - Answers Up-to-minute data, standardized processes, better forecasting,
global consistency.
Supply Chain - Answers Network linking suppliers, manufacturers, distributors, retailers, and
customers with flows of materials, information, and payments.
SCM Planning Software - Answers Models supply chain, creates demand forecasts, optimizes
sourcing, manufacturing, storage, and delivery.
Just-in-Time - Answers Produces goods only when needed to reduce inventory costs.
Safety Stock - Answers Extra inventory maintained as a buffer against uncertainty.
CRM Software Packages - Answers Tools for sales, marketing, and customer service; capture,
consolidate, analyze customer data.
CRM Business Value - Answers Increased customer satisfaction, reduced marketing cost,
identifies profitable customers, increases sales.
Major CRM Vendors - Answers Oracle, SAP, Salesforce, Microsoft Dynamics.
Microsoft (AI & Enterprise Apps) - Answers Offers CRM and ERP (Dynamics 365) with Copilot AI
assistant.
Salesforce (AI & Enterprise Apps) - Answers CRM cloud provider; uses Einstein GPT for
generative AI.
Ubiquity - Answers Available everywhere; reduces transaction and search costs.
Global Reach - Answers Technology reaches consumers worldwide.
Universal Standards - Answers One Internet standard lowers entry & search costs.
Richness - Answers Supports video, audio, text, and interactive messaging.
Interactivity - Answers Two-way communication between consumer and merchant.
Information Density - Answers Increased quantity/quality of info; supports transparency.
Personalization/Customization - Answers Tailored content, ads, and buying experiences.
, Social Technology - Answers Enables user-generated content and social interactions.
B2C - Answers Selling to individual consumers (Amazon).
B2B - Answers Firms selling to other firms (Grainger).
C2C - Answers Consumers selling to consumers (eBay).
Online Retailer - Answers Sells physical/digital goods.
Transaction Broker - Answers Processes transactions (Expedia).
Market Creator - Answers Connects buyers and sellers (Uber, Airbnb).
Content Provider - Answers Provides digital content.
Service Provider - Answers Online services (fintech, insurtech).
Community Provider - Answers Social networks.
Portal - Answers Provides access point to web services.
Advertising Revenue Model - Answers Earns money from ads shown to users.
Subscription Model - Answers Users pay recurring fee for content/services.
Freemium Model - Answers Basic features free; premium features paid.
Transaction Fee Model - Answers Fees collected for enabling transactions.
Affiliate Model - Answers Earns commission for steering customers to partners.
Behavioral Targeting - Answers Tracks clickstream behavior to deliver interest-based ads.
Native Advertising - Answers Ads designed to appear like editorial content; tagged "sponsored."
EDI - Answers Computer-to-computer exchange of standard business documents.
B2B Exchange - Answers Third-party marketplace connecting many buyers/sellers for spot
purchasing.
B2B Growth - Answers Expected to reach ~$8.9 trillion by 2028.
Machine Learning - Answers Uses mathematical models to learn from data without explicit
programming.
Supervised Learning - Answers Model trained with labeled input-output pairs.
Unsupervised Learning - Answers Algorithm finds patterns in unlabeled data.
