Chapter 1

Which term refers to a system in which workers complete their task in separate departments without regard to the consequences for the other components of the process

Silo effect

A project is permanent in nature and is typically associated with smaller, simpler projects. T/F

True

Common reports of financial accounting include income statement, profit and loss, and balance sheet. T/F

True

Lead time is the time between placing the order and receiving confirmation that the item has been shipped. T/F

F

What is the final step of the procurement process

payment

Which process involves the actual creation of the products

production process

Which process is used to plan and execute large projects such as the construction of a new factory or the production of complex products such as airplanes?

project management

In which steps of the asset management process is the production department involved? (3 correct answers)

Perform maintenance Authorize maintenance Request maintenance

Accounts receivable is used to track money that is owed to vendors

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Which of the following statements about SAP ERP are true?

Can be used to executes all processses in an organization Consolidates process data in a single database Enables users to view the status of a process in real time

In which steps of the customer service process is the Sales department involved? (2 correct answers)

Create service request Authorize service

Which of the following products falls within GBI's line of business

Deluxe and professional touring bikes Men and women off-road bikes Bike accessories

Which processes focus primarily on people and projects

Human capital management processes Project management processes

Which of the following is concerned with the storage and movement of materials?

Inventory and warehouse management (IWM)

Enables an organization to optimize its product development process from design to market, while ensuring that it complies with industry, quality, and regulatory standards

Lifecycle Data Management

Is concerned with matching the demand for materials in the organization with the supply

Material Planning

Which process uses historical data and sales forecasts to plan which materials will be procured and produced?

Material Planning

Which of the following steps are included in the basic fulfillment process using a sell from stock strategy?

Prepare Shipment Ship to Customer

What function does the warehouse perform in the fulfillment process?

Prepares and sends the shipment to the customer

Which term refers to all of the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed to make products?

Procurement Process

The term materials encompasses which of the following? (3 correct answers)

Products Components Parts

Which steps are involved in the accounting portion of the procurement process

Receiving the invoice and sending payment

What is the first step of the production process

Request Production

Which of the following departments or functions are involved in the basic production process using the make to stock strategy?

Warehouse Purchasing

Which term refers to business processes that are not executed by a single group or function

cross-functional