Study Guide 1 (1) - Textbook Know the following Most common...

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Textbook Know the following: Most common core ERP components that focus on internal operations 1. Accounting and Finance 2. Production and Materials Management 3. Human Resource Activities performed by accounting and finance components Manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management. Most useful feature is its Credit-management feature. Activities performed by production and materials management components Handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control. Activities performed by human resource components Track employee information including payroll, benefits, compensation, and performance assessment, and assure compliance with the legal requirements of multiple jurisdictions and tax authorities. Most common extended ERP components 1. Business Intelligence 2. Customer Relationship Management 3. Supply Chain Management 4. E-business Functions performed by: o Business intelligence components 1. Describes information that people use to support their decision making efforts. 2. The business intelligence components of ERP systems typically collect information used throughout the organization (including data used in many other ERP components), organize it, and apply analytical tools to assist managers with decisions. o Customer relationship management components ( CRM) 1. Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability. 2. Provide an integrated view of customer data and interactions allowing organizations to work more effectively with customers and be more responsive to their needs. 3. CRM components normally include contact centers, sales force automation, and marketing functions.
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4. These improve customer experience while identifying a company’s most (and least) valuable customers for better allocation of resources. o Supply chain management components (SCM) 1. Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. 2. Help plan, schedule, control, and optimize the supply chain from its acquisition of raw materials to the receipt of finished goods by customers o E-business components 1. E-logistics-manages the transportation and storage of goods. 2. E-procurement is the business-to-business (B2B) purchase and sale supplies and services over the Internet Business Processes: o Customer facing processes o Business Facing processes o Process maps Common ERP benefits and costs Common ERP Benefits: 1.
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