1. An ERP systems a systematic process for developing a production plan that dra
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Question
1. An ERP systems a systematic process for developing a production plan that draws on the information available in the ERP system database. Outline this process and identify the software modules that are used to support it.
2. Identify four complications that multi-national corporations must address in planning, building, and operating their ERP systems.
3. What are the business processes included within the scope of Supply Chain management?
4. What is the role of CRM system? What sort of business benefits can such a system produce?
5. Identify three characteristics of integrated processing software package solutions that make them attractive to SMEs.
6. what is the difference between managerial and financial accounting?
Explanation / Answer
1. An ERP systems a systematic process for developing a production plan that draws on the information available in the ERP system database. Outline this process and identify the software modules that are used to support it.
Ans:)Enterprise resource planning (ERP) is an industry term for the broad set of activities that helps an organization manages its business.
An important goal of ERP is to facilitate the flow of information so business decisions can be data-driven. ERP software suites are built to collect and organize data from various levels of an organization to provide management with insight into key performance indicators (KPIs) in real time.ERP software modules can help an organization's administrators monitor and manage supply chain, procurement, inventory, finance, product lifecycle, projects, human resources and other mission-critical components of a business through a series of interconnected executive dashboards. In order for an ERP software deployment to be useful, however, it needs to be integrated with other software systems the organization uses. For this reason, deployment of a new ERP system in-house can involve considerable business process reengineering, employee retraining and back-end information technology (IT) support for database integration, data analytics and ad hoc reporting. Legacy ERP systems tend to be architected as large, complex homogeneous systems which do not lend themselves easily to a software-as-a-service (SaaS ERP) delivery model. As more companies begin to store data in the cloud, however, ERP vendors are responding with cloud-based services to perform some functions of ERP -- particularly those relied upon by mobile users. An ERP implementation that uses both on-premises ERP software and cloud ERP services is called two-tiered ERP.
2. Identify four complications that multi-national corporations must address in planning, building, and operating their ERP systems.
Ans:) The four complications that arise when multinational corporations must address in planning, building, and operating their ERPs are Different languages and cultures, disparities in information system infrastructure, varying laws and customs rules, and multiple currencies are among the challenges of linking all the business partners, customers, and subsidiaries of a multinational company.
3. What are the business processes included within the scope of Supply Chain management?
Ans:) Supply Chain management(SCM) includes the planning,execution and control of all activites involved in a raw material sourcing and procurement, conversion of raw materials to finished products and the warehousing and delivery of finished products to customers.
4. What is the role of CRM system? What sort of business benefits can such a system produce?
Ans:)The role of a CRM system is to automate and integrate the functions of sales, marketing, and service in an organization. Key features include: contact management, sales management, customer support, marketing automation, analysis, social networking, access by smart phones and important contact data. Benefits include truly understanding customer actions because they build databases about customers that describe relationships in detail.
5. Identify three characteristics of integrated processing software package solutions that make them attractive to SMEs.
Ans:) Three characteristics of integrated processing software solutions that make them attractive to SMEs is 1) pay-as-you-go 2) not hiring full time IT people and 3) reduce hardware costs.
6. what is the difference between managerial and financial accounting?
Ans:) Managerial accounting involves the use of “both historical and estimated data in providing information that management uses in conducting daily operations, in planning future operations, and in developing overall business strategies.”
Financial accounting captures and records transactions that affect a company’s financial state. The documented transactions are then used to prepare financial statements to external decision makers, such as stockholders, suppliers, banks and government agencies.
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