ERP Overview (MISY 5340)- CH 1 , 2, 4, 5 fully solved 2023/2024 passed

ERP Overview (MISY 5340)- CH 1 , 2, 4, 5Asset Management and Customer Service Processes - correct answer (service) used to maintain internal assets such as machinery and deliver after-sales customer service such as repair Business Process - correct answer a set of tasks or activities that produce desired outcomes Enterprise Systems (ES) - correct answer systems that support end to end processes and are essential to the efficient and effective execution and management of business process Controlling - correct answer aka management accounting tracking costs and revenues for internal reporting that is intended to help management control costs and revenues and assess the profitability pf products and market segments Financial Accounting (FI) Processes - correct answer (track-external) tracking the financial impacts of processes with the primary goal of meeting legal and regulatory reporting requirements Fulfillment Process - correct answer the steps involved in selling and delivering products to customers Functional Structure - correct answer an organizational structure dividing the company into departments, each of which is responsible for a set of closely related activities Global Bike Incorporated (GBI) - correct answer fictional company used to describe the processes in our text book Inventory and Warehouse (IWM) process - correct answer (store) involved with the storage and movement of materials Human Capital Management (HCM) processes - correct answer (people) focus on people management: recruiting, hiring, training, compensation and business management Life cycle data management process - correct answer (design) supports the design and development of products from initial product idea stage through discontinuation of the product Management accounting or controlling (CO) processes - correct answer (track-internal) focus on internal reporting to manage costs and revenues material - correct answer all the products, components, parts that organization uses Material planning process - correct answer (plan) uses historical data and sales forecasts to plan which materials will be procured and produced and in what quantities procurement process - correct answer (buy) refers to all activities involved in buying or acquiring the materials Production Process - correct answer (make) involves the actual creation of the products within the organization project - correct answer temporary in nature and is typically associated with large, complex activities project management process - correct answer (projects) used to plan and execute large projects silo effect - correct answer a functional area will perform the steps in their process without fully understanding the the steps before them or the steps after Application layer - correct answer What the application allows you to do (create formulas or charts, compose and essay) Application platforms - correct answer allowing the various systems to communicate seamlessly with one another as well as with systems outside the company