©THEBRIGHT EXAM STUDY SOLUTIONS 8/27/2024 12:01 PM
IDSC 3001 Quiz B | Tim Olson Exam Study
Guide.
Enterprise Resource Planning (ERP) - answer✔✔a suite of applications called modules, a
database, and a set of inherent processes for consolidating business operations into a single,
consistent, computing platform
Supply Chain Management (SCM) - answer✔✔The management of information flows between
and among activities in a supply chain to maximize total supply chain effectiveness and
profitability
Benefits of ERP - answer✔✔- higher productivity
- better insights
- lower risks
- high security
types of ERP implementations - answer✔✔- Cloud ERP
- on premise ERP
- Hybrid ERP
ERP financial components - answer✔✔- general ledger
- accounts payable (AP)
- accounts receivable (AR)
- fixed assets
- tax
- budget
- foreign exchange
- balance sheet
- reporting
, ©THEBRIGHT EXAM STUDY SOLUTIONS 8/27/2024 12:01 PM
ERP Common Processes - answer✔✔- procure to pay
- order to cash
- plan to produce
- field to fork
- hire to retire
hire-to-retire - answer✔✔Also known as human capital management (HCM)
- everything that needs to be done over the course of employment with a company
Field to fork - answer✔✔The name given to the food chain from the start of agricultural
production to final consumption
challenges with implementing ERP - answer✔✔- built of predefined business processes, known
as best practices
- best practices/standard operating procedures are from vendors point of view
- software may not support all business functions
- risk in using one vendor
- vendors always updating software
SCM 4 processes - answer✔✔- plan
- source
- make
- deliver
SCM - plan - answer✔✔- balance resources with requirements
- align supply chain plan with business financial plan
SCM - source - answer✔✔- identify suppliers
- schedule deliveries
SCM - make - answer✔✔- schedule production
- evaluate quality and performance
- mange work in process
SCM - deliver - answer✔✔- select carriers
IDSC 3001 Quiz B | Tim Olson Exam Study
Guide.
Enterprise Resource Planning (ERP) - answer✔✔a suite of applications called modules, a
database, and a set of inherent processes for consolidating business operations into a single,
consistent, computing platform
Supply Chain Management (SCM) - answer✔✔The management of information flows between
and among activities in a supply chain to maximize total supply chain effectiveness and
profitability
Benefits of ERP - answer✔✔- higher productivity
- better insights
- lower risks
- high security
types of ERP implementations - answer✔✔- Cloud ERP
- on premise ERP
- Hybrid ERP
ERP financial components - answer✔✔- general ledger
- accounts payable (AP)
- accounts receivable (AR)
- fixed assets
- tax
- budget
- foreign exchange
- balance sheet
- reporting
, ©THEBRIGHT EXAM STUDY SOLUTIONS 8/27/2024 12:01 PM
ERP Common Processes - answer✔✔- procure to pay
- order to cash
- plan to produce
- field to fork
- hire to retire
hire-to-retire - answer✔✔Also known as human capital management (HCM)
- everything that needs to be done over the course of employment with a company
Field to fork - answer✔✔The name given to the food chain from the start of agricultural
production to final consumption
challenges with implementing ERP - answer✔✔- built of predefined business processes, known
as best practices
- best practices/standard operating procedures are from vendors point of view
- software may not support all business functions
- risk in using one vendor
- vendors always updating software
SCM 4 processes - answer✔✔- plan
- source
- make
- deliver
SCM - plan - answer✔✔- balance resources with requirements
- align supply chain plan with business financial plan
SCM - source - answer✔✔- identify suppliers
- schedule deliveries
SCM - make - answer✔✔- schedule production
- evaluate quality and performance
- mange work in process
SCM - deliver - answer✔✔- select carriers
