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

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:

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