ISDS 351 FINAL EXAM STUDY GUIDE
Goal of ERP - Answer -To enable easy access to business data and create efficient,
streamlined work processes.
How is ERP achieved - Answer -By building one single database that is accessed by
multiple software modules, which provide support for key business functions for different
areas of an organization.
Improved access to quality data for operational decision making - Answer -With an
ERP system, the data is integrated from the beginning; organizations avoid the need to
manually gather data from multiple business functions and/or reconcile data from
different applications. The result is seamless operational decision making by the
managers who are deploying resources within the organization.
Improvement of work processes - Answer -They gather requirements of leading
companies within the same industry and combine them with findings from research
institutions and consultants to develop a set of best practices. Thus, implementation of
an ERP system ensures work processes will be based on industry best practices.
Tier I vendors - Answer -target large multinational firms with multiple locations and
annual revenue in excess of $1 billion. Are highly complex and expensive to implement
and support; implementation across multiple locations can take years.
Tier II vendors - Answer -target medium-sized firms with annual revenue in the $50
million to $1 billion range operating out of one or more locations. Are much less
complex and less expensive to implement and support.
Tier III vendors - Answer -target smaller firms with annual revenue in the $10 million to
$50 million range that typically operate out of a single location. Are comparatively easy
and inexpensive to implement and support.
ERP Customization - Answer -Organizations frequently need to customize a vendor's
ERP software to integrate other business systems, to add data fields or change field
sizes, or to meet regulatory requirements. A wide range of software service
organizations performs such system development and maintenance tasks
Open source software - Answer -organizations can see and modify the source code to
customize it to meet their needs. Such systems are much less costly to acquire and are
relatively easy to modify to meet changing business needs.
Supply chain management - Answer -The planning, execution, and control of all
activities involved in raw material sourcing and procurement, conversion of raw
, materials to finished products, and the warehousing and delivery of finished product to
customers.
Supply chain management goals - Answer -to decrease costs and improve customer
service, while at the same time reducing the overall investment in inventory in the
supply chain.
Demand planning - Answer -Determining the demand for a company's products by
taking into account all the factors that can affect demand, including pricing, promotions,
and advertising activities; general economic conditions; actions by competitors and
regulatory agencies; holidays; the weather; and so on.
Sourcing - Answer -Choosing suppliers and establishing contract terms to provide the
raw material needed to create the products.
Manufacturing - Answer -Producing, testing, packaging, and preparing the products for
delivery; this may involve the use of contract manufacturers.
Logistics - Answer -Establishing a network of warehouses for storing products;
choosing carriers to deliver products to customers; and scheduling carrier pickups so
that the product is delivered to the customers or warehouses on a timely basis.
Customer service - Answer -Improving the customer experience and increasing
customer satisfaction
Contact management - Answer -The ability to track data on individual customers and
sales leads and then access that data from any part of the organization
Sales management - Answer -The ability to organize data about customers and sales
leads, prioritize potential sales opportunities, and identify appropriate next steps
Customer support - Answer -The ability to support customer service representatives so
that they can quickly, thoroughly, and appropriately address customer requests and
resolve customer issues while collecting and storing data about those interactions
Marketing automation - Answer -The ability to capture and analyze all customer
interactions, generate appropriate responses, and gather data to create and build
effective and efficient marketing campaigns
Analysis - Answer -The ability to analyze customer data to identify ways to increase
revenue and decrease costs, identify the firm's "best customers," and determine how to
retain and find more of them
Social networking - Answer -The ability to capture data from social networking sites,
such as Facebook, where salespeople can make contacts with potential customers
Goal of ERP - Answer -To enable easy access to business data and create efficient,
streamlined work processes.
How is ERP achieved - Answer -By building one single database that is accessed by
multiple software modules, which provide support for key business functions for different
areas of an organization.
Improved access to quality data for operational decision making - Answer -With an
ERP system, the data is integrated from the beginning; organizations avoid the need to
manually gather data from multiple business functions and/or reconcile data from
different applications. The result is seamless operational decision making by the
managers who are deploying resources within the organization.
Improvement of work processes - Answer -They gather requirements of leading
companies within the same industry and combine them with findings from research
institutions and consultants to develop a set of best practices. Thus, implementation of
an ERP system ensures work processes will be based on industry best practices.
Tier I vendors - Answer -target large multinational firms with multiple locations and
annual revenue in excess of $1 billion. Are highly complex and expensive to implement
and support; implementation across multiple locations can take years.
Tier II vendors - Answer -target medium-sized firms with annual revenue in the $50
million to $1 billion range operating out of one or more locations. Are much less
complex and less expensive to implement and support.
Tier III vendors - Answer -target smaller firms with annual revenue in the $10 million to
$50 million range that typically operate out of a single location. Are comparatively easy
and inexpensive to implement and support.
ERP Customization - Answer -Organizations frequently need to customize a vendor's
ERP software to integrate other business systems, to add data fields or change field
sizes, or to meet regulatory requirements. A wide range of software service
organizations performs such system development and maintenance tasks
Open source software - Answer -organizations can see and modify the source code to
customize it to meet their needs. Such systems are much less costly to acquire and are
relatively easy to modify to meet changing business needs.
Supply chain management - Answer -The planning, execution, and control of all
activities involved in raw material sourcing and procurement, conversion of raw
, materials to finished products, and the warehousing and delivery of finished product to
customers.
Supply chain management goals - Answer -to decrease costs and improve customer
service, while at the same time reducing the overall investment in inventory in the
supply chain.
Demand planning - Answer -Determining the demand for a company's products by
taking into account all the factors that can affect demand, including pricing, promotions,
and advertising activities; general economic conditions; actions by competitors and
regulatory agencies; holidays; the weather; and so on.
Sourcing - Answer -Choosing suppliers and establishing contract terms to provide the
raw material needed to create the products.
Manufacturing - Answer -Producing, testing, packaging, and preparing the products for
delivery; this may involve the use of contract manufacturers.
Logistics - Answer -Establishing a network of warehouses for storing products;
choosing carriers to deliver products to customers; and scheduling carrier pickups so
that the product is delivered to the customers or warehouses on a timely basis.
Customer service - Answer -Improving the customer experience and increasing
customer satisfaction
Contact management - Answer -The ability to track data on individual customers and
sales leads and then access that data from any part of the organization
Sales management - Answer -The ability to organize data about customers and sales
leads, prioritize potential sales opportunities, and identify appropriate next steps
Customer support - Answer -The ability to support customer service representatives so
that they can quickly, thoroughly, and appropriately address customer requests and
resolve customer issues while collecting and storing data about those interactions
Marketing automation - Answer -The ability to capture and analyze all customer
interactions, generate appropriate responses, and gather data to create and build
effective and efficient marketing campaigns
Analysis - Answer -The ability to analyze customer data to identify ways to increase
revenue and decrease costs, identify the firm's "best customers," and determine how to
retain and find more of them
Social networking - Answer -The ability to capture data from social networking sites,
such as Facebook, where salespeople can make contacts with potential customers
