Managment 3300 Test 2 - Chapter 5 4 Major Information Systems 1 Finance Management enterprise information system that supports financial accoiunts and

Managment 3300 Test 2 - Chapter 5 4 Major Information...

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Chapter 5 4 Major Information Systems: 1. Finance Management: enterprise information system that supports financial accoiunts and processes a. Components: i. Accounts payable, accounts recievable, procurement, cash management, budget planning, asset management, and the general ledger b. Exception reporting c. Compliance Reporting d. XBRL: eXtensible Business Reporting Language: language specialized for accounting and business reports; tags identify data elements to make them transparent and also computer readable e. Improving transparency 2. Human Capital Management: encompasses all activities and information systems related to effectively managing an organizations human capital; includes applications and modules with the employee as the central element a. Components: i. Human Resource Managements System: the heart of the HCM system that tracks employees demographic information, salary, taxes, benefits, etc b. Workforce Management Model: as part of the HCM system, the workforce management module helps track time and attendance, sick leave, and vacation leave and project assignments c. Talent Management: as part of the HCM system, the talkent management module focuses on the employee life cycle including recruitment, performance evaluations, career development, compensation planning, e-learning, and succession planning other retirement or departure d. Social Networking and HCM e. HCM Metrics: use metrics to asses the impact of their strategies on the company success often in terms of real dollars; can also compare to industry benchmarks (turnover, turnover cost, cost per hire, human capital return on investment, employee satisfaction) 3. Supply Chain Management: strategies that optimize the flow of products and services from their source to the customer a. Goal is to align supply with demand so that the right product is delivered to the right place at just the right time and the right price i. The Planning Step: building a nimble supply chain that align with actual business goals ii. Sources Step: managers choose their suppliers iii. Make Deliver Return iv. Whole Chain= Plan Source Make Deliver Return b. Measuring Performance in Supply Chain:
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i. Supply Chain Visibility: describes how easily managers can track timely and accurate supply chain metrics ii. Supply Chain Metrics 1. Demand Forecast Accuracy: the difference between forecasted and actual demand 2. Bullwhip Effect: describes the distortions in a supply chain caused by changes in customer demand resulting in large swings in inventory levels as the orders ripple upstream from the retailer to the distributor and manufacturer iii. Reducing Supply Chain Costs: 1. Knowing where along the supply chain costs are too high 2. Interventions: eliminate the middle man iv. Supply Chain Disruptions: 1. variance in product causes disruption 2. increasing gas prices 3. natural disasters such as tornado/hurricane c. Electronic Data Interchange: an electronic bridge between partner companies in a supply chain that is used to transmit real time
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