c. investment and profit centers, but not cost centers
In investment centers, managers are responsible for all activities, including costs, revenues, and investments. An investment center is a profit center with significant control over the amount of capital invested. This control extends to investments such as receivables and property, plant, and equipment, as well as entry into new markets. A cost center, for example, a production department, is responsible for costs only. A profit center, for example, the appliance department in a retail store, is responsible for both revenues and expenses.
b. performing indoor climate control
Fuzzy logic is a superset of conventional [Boolean] logic that has been extended to handle the concept of partial truth. Because they use nonspecific terms [membership functions] characterized by well-defined imprecision, fuzzy logic systems can create rules to address problems with many solutions. For example, applying fuzzy logic to indoor climate control may require defining in impressionistic terms and weighting functions such as indoor and outdoor temperature, humidity, and wind conditions. Thus, definitions [e.g., hot, warm, normal, cool, or cold, stated in temperature ranges] may overlap. The resulting rules describe actions to be taken when certain combinations of conditions exist. Fuzzy logic can be used when values are approximate or subjective, objects belong to multiple sets, membership in a set is a matter of degree, and data are incomplete or ambiguous.
A company updates the payroll master file at the end of the week. The payroll time cards are transported to the computer center for processing. The sequence of events followed by the computer center in updating its master file should be
a. Batching records of transactions, validating input, converting to machine-readable form,
updating the master.
b. Validating input, batching records of transactions, converting to machine-readable form, updating the master.
c. Converting to machine-readable form, batching records of transactions, validating input, updating the master.
d. Batching records of transactions, converting to machine-readable form, validating input, updating the master.
1. Get upper management involvement [not just approval].
2. Spend sufficient time getting all the user requirements [one way management can be involved].
3. Spend sufficient time researching ERP vendors.
4. Understand how much the vendor's software will need to customized to fit your specific employee needs.
5. Try not to change the project scope.
6. Thoroughly explain the need for the ERP to all [upper management to lower employees]
7. Tips for success ERP impleme
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Terms in this set [26]
What are the 5 benefits of ERP? *
1. Integrate financial information
2. Intergrate customer order information
3. Standardize and speed up manufacturing processes
4. Reduce inventory
5. Standardize human resource information
What are the 6 costs/disadvantages of ERP? *
1. Software costs
2. Consulting fees
3. Process rework
4. Customization
5. Integration and testing
6. Data integration and conversion
_______ are standard, published operating methods found to produce the best performance and results. *
Incorporate 'best practices' [also a benefit of ERP]
What are information silos and why are they a bad thing? *
Silos are separate information systems for different areas of an organization. There is a need for departments to share information [and reduce redundancies], and therefore enterprise systems [ERPs] are a much preferred method of storing and distributing data throughout an organization.
What are the 4 issues that cause implementation projects to fail? *
1. Quickly identify problems
2. Communication is essential
3. Change management [don't assume that a good IS will be readily accepted and embraced]
4. Labor resource issues [don't ask too much from the implementation staff]
_____ group implementation have a few branches of the company test out the ERP IS before implementing it to the whole organization to make sure it's a good decision to make the switch.
Pilot
_____ implementation starts off at an outer branch and slowly moves the ERP IS inward toward the centralized organization.
Phased
What is the origin of ERP? *
Created to conquer the shortcomings
of MRP [manufacturing resource planning] and involves the planning and managing
of the entire organization's resources in the most efficient, productive, and profitable manner.
_______ is a tradetional component of ERP and is included in most ERP systems and primarily focuses on internal operations. *
Core ERP component
_______ are extra components that meet the organizational needs not covered by the core components and primarily focuses on external operations. *
Extended ERP component
What exactly is ERP?
ERP intergrates all departments and functions throughout an organization into a single IS.
What is the goal of ERP?
The goal is to allow employees to make enterprise-wide decisions by viewing enterprise-wide information on all business operations.
Companies implement/use ERP in order to _______ or _______ competitive advantages by making efficient use of resources.
Maintain or Gain
By gaining a ______, complete picture the business leaders can better respond to the dynamics of the business environment.
Top-Down
What was MRP?
In a manufacturing organization, MRP was used to manage the bill of materials, inventory levels, and purchasing decisions.
What were the two main outputs of MRP?
1. A production planning schedule
2. A recommended purchasing schedule
How is ERP better than MRP?
ERP systems are information systems that allow an organization to access a synchronized database that strategically connects all aspects of a business.
ERP can ______ duplicate data entry efforts, along with the need to reconcile data entered from multiple sources.
Eliminate
What are the three most common core ERP components? *
1. Accounting
and finance
2. Production and materials management
3. Human resource
The _______ and ________ component manages accounting data and financial processes within the enterprise. *
Accounting and Finance component
What are 8 functions of the accounting and finance component of ERP?
1. General ledger
2. Accounts
payable
3. Accounts receivable
4. Budgeting
5. Asset managment
6. Track profit
7. Forecast sales
8. Manage cash flow
The _______ and ________ management component handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control. *
Production and Materials management component
The human resource component of ERP tracks employee information including what 5 things? *
1. Payroll
2. Benefits
3. Compensation
4. Performance assessment
5. Assumes compliance with the legal requirements of multiple jurisdictions and tax authorities
What are 4 components of extended ERP? *
1. Business intelligence
2. Customer
relationship managment
3. Supply chain management
4. E-business
________ manages the transportation and storage of goods.
E-logistics
________ is the B2B purchase and sale of supplies and services over the internet.
E-procurement
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