IDIS 344 Exam 1 Johnson Study Guide with Complete
Solutions 100% Verified
ERP System - Correct Answer Integrates finances, manufacturing, and HR into single computer system; look for cost and functionality
ERP acronym - Correct Answer Enterprise Resource Planning
Why ERP - Correct Answer STREAMLINES business
improves efficiency
reduce cost
helps with stratification
integrates all aspects of oper.
ERP tracks - Correct Answer products, salesforce, customers, vendors, financials, analytics
ERP is NOT - Correct Answer not autopilot for businesses, not substitute for knowledge and experience
adv of erp for dist - Correct Answer **complete situational awareness of all operations**
improves op eff
reduces cost & inc profit
integrates
ERP cycle - Correct Answer item ordered
item received
item into inventory
item sold
1. inventory mgmt..
2. inven control.. - Correct Answer 1. tracks vendors and generates AP
2. tracks items and produces analytics, generates AP cust strat track sales 3 trends driving growth in the wholesale distribution industry - Correct Answer 1. investment in tech
2. renewed focus on basics (blocking and tackling)
3. e-commerce
what to do before implementing new tech - Correct Answer 1. conduct SWOT (strength, weakness, oppur, threats) analysis
2. develop implementation plan
3. determine ROI 4. get buy in from employees
5. budget completely
6 .stay with it
GOLDILOCKS theory of inventory mgmt - Correct Answer Don't stock too little or too much, stock just the right amount
inventory mgmt is a combo of 2 things - Correct Answer science (tech)
art (knowledge and experience)
factors implementing Inventory mgmt in the real world - Correct Answer Market
economy
competition
vendors
customers
mother nature
man made events
Why did we receive this item in inventory? - Correct Answer Initial stock of new item, restock existing
item, special order item
3 critical questions for building the ERP - Correct Answer 1. what items are in our inven
2. who are our suppliers
Solutions 100% Verified
ERP System - Correct Answer Integrates finances, manufacturing, and HR into single computer system; look for cost and functionality
ERP acronym - Correct Answer Enterprise Resource Planning
Why ERP - Correct Answer STREAMLINES business
improves efficiency
reduce cost
helps with stratification
integrates all aspects of oper.
ERP tracks - Correct Answer products, salesforce, customers, vendors, financials, analytics
ERP is NOT - Correct Answer not autopilot for businesses, not substitute for knowledge and experience
adv of erp for dist - Correct Answer **complete situational awareness of all operations**
improves op eff
reduces cost & inc profit
integrates
ERP cycle - Correct Answer item ordered
item received
item into inventory
item sold
1. inventory mgmt..
2. inven control.. - Correct Answer 1. tracks vendors and generates AP
2. tracks items and produces analytics, generates AP cust strat track sales 3 trends driving growth in the wholesale distribution industry - Correct Answer 1. investment in tech
2. renewed focus on basics (blocking and tackling)
3. e-commerce
what to do before implementing new tech - Correct Answer 1. conduct SWOT (strength, weakness, oppur, threats) analysis
2. develop implementation plan
3. determine ROI 4. get buy in from employees
5. budget completely
6 .stay with it
GOLDILOCKS theory of inventory mgmt - Correct Answer Don't stock too little or too much, stock just the right amount
inventory mgmt is a combo of 2 things - Correct Answer science (tech)
art (knowledge and experience)
factors implementing Inventory mgmt in the real world - Correct Answer Market
economy
competition
vendors
customers
mother nature
man made events
Why did we receive this item in inventory? - Correct Answer Initial stock of new item, restock existing
item, special order item
3 critical questions for building the ERP - Correct Answer 1. what items are in our inven
2. who are our suppliers
