Week 2. ERP

What were the two main outputs of MRP?

1. A production planning schedule 2. A recommended purchasing schedule

What are the three most common core ERP components? *

1. Accounting and finance 2. Production and materials management 3. Human resource

What are 4 components of extended ERP? *

1. Business intelligence 2. Customer relationship managment 3. Supply chain management 4. E-business

What are 8 functions of the accounting and finance component of ERP?

1. General ledger 2. Accounts payable 3. Accounts receivable 4. Budgeting 5. Asset managment 6. Track profit 7. Forecast sales 8. Manage cash flow

What are the 5 benefits of ERP? *

1. Integrate financial information 2. Intergrate customer order information 3. Standardize and speed up manufacturing processes 4. Reduce inventory 5. Standardize human resource information

The human resource component of ERP tracks employee information including what 5 things? *

1. Payroll 2. Benefits 3. Compensation 4. Performance assessment 5. Assumes compliance with the legal requirements of multiple jurisdictions and tax authorities

What are the 4 issues that cause implementation projects to fail? *

1. Quickly identify problems 2. Communication is essential 3. Change management (don't assume that a good IS will be readily accepted and embraced) 4. Labor resource issues (don't ask too much from the implementation staff)

What are the 6 costs/disadvantages of ERP? *

1. Software costs 2. Consulting fees 3. Process rework 4. Customization 5. Integration and testing 6. Data integration and conversion

The _______ and ________ component manages accounting data and financial processes within the enterprise. *

Accounting and Finance component

_______ is a tradetional component of ERP and is included in most ERP systems and primarily focuses on internal operations. *

Core ERP component

What is the origin of ERP? *

Created to conquer the shortcomings of MRP (manufacturing resource planning) and involves the planning and managing of the entire organization's resources in the most efficient, productive, and profitable manner.

________ manages the transportation and storage of goods.

E-logistics

________ is the B2B purchase and sale of supplies and services over the internet.

E-procurement

What exactly is ERP?

ERP intergrates all departments and functions throughout an organization into a single IS.

How is ERP better than MRP?

ERP systems are information systems that allow an organization to access a synchronized database that strategically connects all aspects of a business.

ERP can ______ duplicate data entry efforts, along with the need to reconcile data entered from multiple sources.

Eliminate

_______ are extra components that meet the organizational needs not covered by the core components and primarily focuses on external operations. *

Extended ERP component

What was MRP?

In a manufacturing organization, MRP was used to manage the bill of materials, inventory levels, and purchasing decisions.

_______ are standard, published operating methods found to produce the best performance and results. *

Incorporate 'best practices' (also a benefit of ERP)

Companies implement/use ERP in order to _______ or _______ competitive advantages by making efficient use of resources.

Maintain or Gain

_____ implementation starts off at an outer branch and slowly moves the ERP IS inward toward the centralized organization.

Phased

_____ group implementation have a few branches of the company test out the ERP IS before implementing it to the whole organization to make sure it's a good decision to make the switch.

Pilot

The _______ and ________ management component handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control. *

Production and Materials management component

What are information silos and why are they a bad thing? *

Silos are separate information systems for different areas of an organization. There is a need for departments to share information (and reduce redundancies), and therefore enterprise systems (ERPs) are a much preferred method of storing and distributing data throughout an organization.

What is the goal of ERP?

The goal is to allow employees to make enterprise-wide decisions by viewing enterprise-wide information on all business operations.

By gaining a ______, complete picture the business leaders can better respond to the dynamics of the business environment.

Top-Down