ITM Chapter 5

A financial management system

An enterprise information system that supports financial accounts and processes, including accounts payable, accounts receivable, procurement, cash management, budget planning, assets, general ledger, and related activities is called

XBRL

Considered a part of the XML family, ___________ is specialized for accounting and business reporting

Human capital management (HCM)

Core human resources management applications, workforce management applications, talent management applications, service delivery applications, and social software are the main components of:

Human capital management encompasses all the activities and information systems related to effectively managing an organization's human capital.

Human capital management (HCM) is best defined by which of the following?

One of the most important supply chain metrics, DFA measures the difference between forecasted and actual demand.

Which of the following best describes demand forecast accuracy (DFA)?

Electronic data interchange refers to an electronic bridge between partner companies in a supply chain that is used to transmit real-time information about orders, inventories, invoices, and other data.

Which of the following best describes electronic data interchange?

A system that integrates two or more of the applications that support major business processes common to most organizations

Which of the following best describes enterprise resource planning (ERP) systems?

Visibility describes how easily managers can track timely and accurate supply chain metrics.

Which of the following best describes supply chain visibility?

Reports are the lifeblood of people in finance and accounting, and information systems routinely generate detailed summary reports on all the organization's transactions.

Which of the following is a true statement about the importance of financial reporting?

Payroll

Which of the following is not one of customer relationship management's diverse software applications?

Implementing an ERP is a major challenge, partly because so many applications are related and because so many processes are affected at the same time.

Which one of the following statements about enterprise resource planning systems is true?

Some ERPs have tightly integrated modules, whereas others synchronize data across modules that are more loosely integrated, using middleware.

Which one of the following statements about enterprise resource planning systems is true?

Customer relationship management (CRM)

__________ covers the strategies, processes, and information systems an organization uses to build and maintain relationships with its current and prospective customers

An enterprise resource planning (ERP) system

__________ integrates two or more of the applications that support major business processes common to most organizations (especially finance and human resources).

improve visibility among suppliers and customers

Electronic data interchange (EDI), XML, RFID chips, and GPS all help to __________.

customer relationship management (CRM)

Improving customer retention, increasing profitability, growing revenue, and listening to customer sentiments are all goals of __________.

visibility

In order for managers to see metrics that help assess overall effectiveness of supply chain processes, __________ must be improved

supply chain management (SCM)

Strategies that optimize the flow of products and services from their source, through the company, and to the customer are referred to as __________

1. Plan 2. Source 3. Make 4. Deliver 5. Return

The five steps in supply chain management are:

The 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. It occurs when visibility is low

Talent management

______________ applications help track and manage employees including recruitment, training, and retirement.