Vocab Test 1 - Plug-In B10 Enterprise Resource Planning...

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Enterprise Resource Planning (ERP) o integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make decisions by viewing enterprisewide information on all business operations. Core ERP Components o Are the traditional components included in most ERP systems and primarily focus on internal operations. Extended ERP Components o Are the extra components that meet the organizational needs not covered by the core components and primarily focus on external operations. Core ERP Components o The 3 most common core ERP components focusing on internal operations are: Accounting and Finance Production and materials management Human resources Accounting and Finance ERP components o Manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management. Production and materials management ERP components o Handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control Human Resources ERP Components o Track employee information including payroll, benefits, compensation, and performance assessment, and assure compliance with the legal requirements of multiple jurisdictions and tax authorities. Business Intelligence o Describes information that people use to support their decision-making efforts. Customer Relationship Management (CRM) o Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability. Supply Chain Management (SCM) o Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability. E-business
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This note was uploaded on 12/07/2010 for the course ACG 3361, 4401 taught by Professor Goldwater,canada,judd,byrd,theniel during the Spring '10 term at University of Central Florida.

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Vocab Test 1 - Plug-In B10 Enterprise Resource Planning...

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