IDIS 344 Exam 1 johnson Correctly Answered Questions| UpToDate | Already Graded A+
ERP System : Integrates finances, manufacturing, and HR into single computer system; look for cost and functionality ERP acronym : Enterprise Resource Planning Why ERP : STREAMLINES business improves efficiency reduce cost helps with stratification integrates all aspects of oper. ERP tracks : products, salesforce, customers, vendors, financials, analytics ERP is NOT : not autopilot for businesses, not substitute for knowledge and experience 2 | P a g e adv of erp for dist : **complete situational awareness of all operations** improves op eff reduces cost & inc profit integrates ERP cycle : item ordered item received item into inventory item sold 1. inventory mgmt.. 2. inven control.. : 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 : 1. investment in tech 2. renewed focus on basics (blocking and tackling) 3. e-commerce 3 | P a g e what to do before implementing new tech : 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 : Don't stock too little or too much, stock just the right amount inventory mgmt is a combo of 2 things : science (tech)
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