MIS304 Exam

MIS304 Exam #3 (Ch. 7-9, Assignments A6, A7, Python EC) Traditional Organizational Functions - CORRECT ANSWER traditional functions within organizations include marketing + sales, supply chain management, accounting & finance, human resources, and more! These functions are HIGHLY INTERDEPENDENT with many functions assisting or affecting another function. This makes the exchange of information (usually through Information systems) within organizations ESSENTIAL! Core Business Process & Organizational Value Chain - CORRECT ANSWER 1. Order-to-Cash (selling) 2. Procure-to-Pay (buying) 3. Make-to-Stock (manufacturing) 4. Make-to-Order (manufacturing) Order-to-Cash - CORRECT ANSWER ** SELLING - the process of selling goods & services & collecting revenue for them. This includes every aspect of receiving an order, fulfilling it, and receiving payment. It involves multiple business functions (marketing + sales, supply chain management, accounting & finance, manufacturers & operations) & quality exchange of information! * Can you imagine how much time and complexity this process would take a company like Amazon without Information Systems? Information systems help business to operate effectively & efficiently AND add VALUE! Steps: (1) Create Customer Record, (2) Check Credit, (3) Create Order, (4) Allocate Stock, (5) Pick, Pack & Ship, (6) Prepare & Send Invoice, (7) Collect Payment Procure-to-Pay - CORRECT ANSWER ** BUYING - the process of ordering goods & services & paying for them. This includes every aspect necessary to acquire goods or materials for operations. It involves multiple business functions (marketing + sales, supply chain management, accounting & finance, manufacturers & operations) & quality exchange of information!