ITSS 3300 Exam 1
What is the bill of materials? - ✔️✔️- It identifies the components needed to make one
unit of finished product
- Primary use is to let you estimate the cost per unit and determine the total product cost
- From a manufacturing standpoint, it lets you know/calculate if you have enough raw
material on hand before a production run.
High _____________________ make it difficult for customers to change to another
product of service:
a.) Elevations
b.) Expectations
c.) Switching costs
d.) Differentiations - ✔️✔️ANSW: C
What is an enterprise system? - ✔️✔️Large-scale applications that support complex
business processes, informational flows, data analytics, and reports in a simplified
manner
Benefits of an enterprise system: - ✔️✔️- Integrated
- Data is always up to date
- Data is easy to access and easy to share
- Informational needs can be more effectively met
Benefits of a functional system approach: - ✔️✔️- Allows a functional department to
specialize in a system that best suits their own needs
Examples of organizational data: - ✔️✔️Plant layout, organizational chart
Examples of master data: - ✔️✔️Customer list, list of products
Transaction data: - ✔️✔️Day-to-day transactions that occur as a result of the business'
operations; generates the most amount of data
Purpose of Porter's Five Forces: - ✔️✔️You're trying to predict the intensity of
competitive rivalry in an industry
Highly competitive industry: - ✔️✔️Has low profits
Low competitive industry: - ✔️✔️Has high profits
, What are the four forces that shape the intensity of the competitive rivalry (rivalry is the
fifth force)? - ✔️✔️- Breadth of new entrance
- Bargaining power of buyers
- Breadth of substitutes
- Bargaining power of suppliers
Three core business processes: - ✔️✔️- Procurement
- Fullfillment
- Production
Threat of new entry: - ✔️✔️- Time and cost of entry
- Specialist knowledge
- Economies of scale
- Cost advantages
- Technology
- Barriers to entry
Competitive rivalry: - ✔️✔️- Number of competitors
- Quality of differences
- Switching costs
- Customer loyalty
- Costs of leaving market
Buyer power: - ✔️✔️- Number of customers
- Size of each order
- Differences between customers
- Price sensitivity
- Ability to substitute
- Cost of changing
Threat of substitution: - ✔️✔️- Substitute performance
- Cost of change
Supplier power: - ✔️✔️- Number of suppliers
- Size of suppliers
- Uniqueness of service
- Your ability to substitute
- Cost of changing
What is the purpose of an information system? - ✔️✔️To automate/execute a process
that spans across multiple functional units in a seamless and integrated fashion.
Information systems are used to make the functions within a business more efficient.
What is the bill of materials? - ✔️✔️- It identifies the components needed to make one
unit of finished product
- Primary use is to let you estimate the cost per unit and determine the total product cost
- From a manufacturing standpoint, it lets you know/calculate if you have enough raw
material on hand before a production run.
High _____________________ make it difficult for customers to change to another
product of service:
a.) Elevations
b.) Expectations
c.) Switching costs
d.) Differentiations - ✔️✔️ANSW: C
What is an enterprise system? - ✔️✔️Large-scale applications that support complex
business processes, informational flows, data analytics, and reports in a simplified
manner
Benefits of an enterprise system: - ✔️✔️- Integrated
- Data is always up to date
- Data is easy to access and easy to share
- Informational needs can be more effectively met
Benefits of a functional system approach: - ✔️✔️- Allows a functional department to
specialize in a system that best suits their own needs
Examples of organizational data: - ✔️✔️Plant layout, organizational chart
Examples of master data: - ✔️✔️Customer list, list of products
Transaction data: - ✔️✔️Day-to-day transactions that occur as a result of the business'
operations; generates the most amount of data
Purpose of Porter's Five Forces: - ✔️✔️You're trying to predict the intensity of
competitive rivalry in an industry
Highly competitive industry: - ✔️✔️Has low profits
Low competitive industry: - ✔️✔️Has high profits
, What are the four forces that shape the intensity of the competitive rivalry (rivalry is the
fifth force)? - ✔️✔️- Breadth of new entrance
- Bargaining power of buyers
- Breadth of substitutes
- Bargaining power of suppliers
Three core business processes: - ✔️✔️- Procurement
- Fullfillment
- Production
Threat of new entry: - ✔️✔️- Time and cost of entry
- Specialist knowledge
- Economies of scale
- Cost advantages
- Technology
- Barriers to entry
Competitive rivalry: - ✔️✔️- Number of competitors
- Quality of differences
- Switching costs
- Customer loyalty
- Costs of leaving market
Buyer power: - ✔️✔️- Number of customers
- Size of each order
- Differences between customers
- Price sensitivity
- Ability to substitute
- Cost of changing
Threat of substitution: - ✔️✔️- Substitute performance
- Cost of change
Supplier power: - ✔️✔️- Number of suppliers
- Size of suppliers
- Uniqueness of service
- Your ability to substitute
- Cost of changing
What is the purpose of an information system? - ✔️✔️To automate/execute a process
that spans across multiple functional units in a seamless and integrated fashion.
Information systems are used to make the functions within a business more efficient.
