MISY 5340 Exam 1 (ERP Overview) - CH 1 , 2, 4, 5:
Questions With Solutions (Rated A+) Asset Management and Customer Service Processes Right Ans - (service) used to maintain internal assets such as machinery and deliver after-sales customer service such as repair Business Process Right Ans - a set of tasks or activities that produce desired outcomes Enterprise Systems (ES) Right Ans - systems that support end to end processes and are essential to the efficient and effective execution and management of business process Controlling Right Ans - aka management accounting tracking costs and revenues for internal reporting that is intended to help management control costs and revenues and assess the profitability pf products and market segments Financial Accounting (FI) Processes Right Ans - (track-external) tracking the financial impacts of processes with the primary goal of meeting legal and regulatory reporting requirements Fulfillment Process Right Ans - the steps involved in selling and delivering products to customers Functional Structure Right Ans - an organizational structure dividing the company into departments, each of which is responsible for a set of closely related activities Global Bike Incorporated (GBI) Right Ans - fictional company used to describe the processes in our text book Inventory and Warehouse (IWM) process Right Ans - (store) involved with the storage and movement of materials 1 / 2
Human Capital Management (HCM) processes Right Ans - (people) focus
on people management: recruiting, hiring, training, compensation and
business management Life cycle data management process Right Ans - (design) supports the design and development of products from initial product idea stage through discontinuation of the product Management accounting or controlling (CO) processes Right Ans - (track- internal) focus on internal reporting to manage costs and revenues material Right Ans - all the products, components, parts that organization uses Material planning process Right Ans - (plan) uses historical data and sales forecasts to plan which materials will be procured and produced and in what quantities procurement process Right Ans - (buy) refers to all activities involved in buying or acquiring the materials Production Process Right Ans - (make) involves the actual creation of the products within the organization project Right Ans - temporary in nature and is typically associated with large, complex activities project management process Right Ans - (projects) used to plan and execute large projects silo effect Right Ans - a functional area will perform the steps in their process without fully understanding the the steps before them or the steps after Application layer Right Ans - What the application allows you to do (create formulas or charts, compose and essay)
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