IDIS 344 EXAM 1 STUDY GUIDE WITH COMPLETE SOLUTIONS

IDIS 344 EXAM 1 STUDY GUIDE WITH COMPLETE SOLUTIONS What are the two primary factors Distributors use to determine pricing and discount setup. - ️️ Correct-PRODUCTS CUSTOMERS (also vendors) Who normally gets the best price and why? - ️️ Correct-Charge customers normally get the best discounts because you're building trust in an established relationship. And expect return business from them. Next discount goes to cash customers, and the least discount goes to new customers. There are various sales order types for the Infor Distributionsuite ERP. Which type does not allocate inventory and why? - ️️ Correct-A quote. A quote does not allocate stock because it is only a potential order not an actual order. Davis Duren's guest lecture talks about "filtering" your decisions. what did he describe as your filter. - ️️ Correct-Your personal CORE VALUES are what you should always filter your decisions through to make sure you're making the best decision for yourself Summary of Davis Duren's lecture - ️️ Correct-Creating your own unique value Always selling yourself to people value proposition - leaving your mark Core values "your filter" TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 2/29 Distinguishing you, your business, and your value. Leadership disciplines - consistent and effective communication visionary thinking embrace criticism embody culture respect the dignity of people fight hard for whats right respect effort and honor achievement don't quit on objectives Inventory management is described as a combination of what two things? - ️️ Correct- Art - (Industry knowledge and experience) Science - (Technology and the ERP) What are some reasons you would not order the recommended order quantity (ROQ) provided by your ERP system? - ️️ Correct-SEASONAL MARKET & ECONOMY COMPETITION MOTHER NATURE CHANGE IN CUSTOMERS NEEDS MAN MADE EVENTS BUYERS KNOWLEDGE AND EXPERIENCE TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 3/29 CYCLE ITEM - ️️ Correct-If the effective quantity is LESS THAN the line point, order up to the line point EOQ ITEM - ️️ Correct-If effective quantity is greater than or equal to the line point, order up to the EOQ or the line point whichever is greater. Distributors using traditional order processing (NOT AN ERP) have several problems, what are some of the problems? - ️️ Correct--Difficult to track order from acceptance to fulfillment. -Difficult to make purchase orders, inventory receipts, and costs -Room for human error and mistakes -increase paperwork implies increased non value added activities -There's more delay which increases lead time -Negative impact on customer service - Lack of integration which causes business to run less efficiently What are the 5 S's of supply chain planning - ️️ Correct-Source Stock Store Sell Ship What are the support services in supply chain planning? - ️️ Correct-- Information Technology - Human Resource Management TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD OWNER: EMILLYCHARLOTTE COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED FIRST PUBLISHED: SEPTEMBER 2024 4/29 - Finance management What are some of the advantages of a Distributor using an ERP system? - ️️ Correct-- Integrates all your key functions -Helps you do your job better -Enhances customer service -Increases visibility to enhance management MDM: "How Data Helps Distributors Overcome Profit-Squeezing" It listed four types of analytics to help Distributors. What are they? - ️️ Correct-- Descriptive analytics -Diagnostic analytics -Predictive analytics -Prescriptive analytics The difference between the Cost that a Distributor pays for an item from a Vendor, and the Price charged to a