Enterprise System Benefits
Which of these choices best describes an ERP system?
A bookkeeper enters information into the bookkeeping system, which feeds the necessary information into the accounting system, where the accountant can perform his or her tasks and run financial reports for top management.----Integrating the bookkeeping and accounting systems is a benefit of ERP. By tightly integrating functional business areas in a single database, businesses improve efficiencies and reduce costs. ERP systems also provide a place to integrate reporting from various systems so that executives have all information at their fingertips.
Which of the following is an example of a business or entrepreneur utilizing a customer relationship management (CRM) system?
A chain of three pizza restaurants utilizing a web-based software that keeps track of customer email addresses and uses that system to send out weekly coupons---This chain of three pizza restaurants is utilizing a web-based CRM system to keep track of customer information.
A business owner opens a new store and begins collecting customer information at the register. This information includes email addresses and other information that the customers are willing to share. The business owner also starts to create paper contracts for special orders that involve embroidery and personalization. These papers are stored in a folder in the store location. Which of the following systems will help the business owner manage this type of information?
A customer relationship management (CRM) system----Even though this business might be small, a CRM system is exactly what they need to organize customer information and manage their contracts all in one place.
A grocery store has an extensive inventory control process. They carry thousands of products and shelf-space for those products is competitive. If the grocery store is out of a particular item, then they are losing money. They need to keep all of their products in stock to meet customer demand and make a profit. This grocery store should consider looking into which system to help manage this type of information?
A supply chain management (SCM) system--- A supply chain management system will help ensure the right amount of products are delivered to the store to meet customer demand. SCM systems run simulations to evaluate different ways of optimizing the supply chain. ERP systems are more linear and do not easily allow for scenarios to be created or evaluated.
A system where businesses work together to create a product or service for a customer is called a .
A supply chain management system is one in which businesses are interconnected and working to create a product or service for the customer.
Customer relationship management (CRM) is a strategy that companies use to handle customer interactions. The business benefits of a CRM system include all except which of the following?
Better internal communication---CRM benefits include personalized communication to customers, not better internal communication. Personalized communications are used to target customers with special promotions and maintain customer loyalty.
These systems entail all aspects of interaction that a company has with its customers, including contacts, clients, contract wins and sales leads, and more.
CUSTOME RELATIONS MANAGEMENT-- CRM --systems entail all aspects of interaction that a company has with its customers. These systems are used to organize customer information
These systems tightly integrate functional areas, such as accounting, finance, project management, inventory control, purchasing, human resources, customer retention, sales, and marketing into one single, comprehensive system.
ENTERPRISE RESOURCE PLANNING SYSTEM--ERP-- systems tightly integrate functional areas such as accounting, finance, project management, inventory control, purchasing, human resources, customer retention, sales, and marketing into one single, comprehensive system.
True-- Enterprise resource planning involves utilizing computer technology to link various aspects of a business, including human resources, accounting, and inventory control.
Enterprise resource planning involves utilizing computer technology to link various aspects of a business. ERP assists with information sharing and decision making across an entire company
Which of the following scenarios would benefit the most from a knowledge-based system?
Fred has worked for Selma's Training Services for 20 years and is ready to retire. The company will be hiring a new employee to take over Fred's responsibilities. It will take the new employee a while to learn the many new job responsibilities.--Capturing experiences into a knowledge-based system can replicate expertise. Sharing this knowledge can help a business avoid repeating mistakes.
This system creates the process of sharing knowledge among people for the benefit of the business.
KNOWLEDGE MANAGEMENT SYSTEM- KM--is the process of sharing knowledge amongst people for the benefit of the business.
What is a benefit of introducing knowledge management?
Knowledge management is built on the founding principle that employees and technology will work together to share knowledge across business units.
What is knowledge management?
Knowledge management is finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm. The process of sharing knowledge across business units and amongst employees of a business Knowledge management is the process of sharing knowledge among people for the benefit of the business.
This system is one in which businesses are interconnected and working to create a product or service for the customer
SUPPLY CHAIN MANAGEMENT- SCM- An SCM system is one in which businesses are interconnected and work to create a product or service for the customer.
One benefit of a supply chain management system is to plan daily operations of the company.
TRUE--Although most people know supply chain management as the systems used to manage the flow of products or information into consumer's hands, it also helps with planning daily operations, improving sales forecasting, predicting transportation requirements, building partnerships, and improving business strategies, among other things.
A real estate company has a website that is integrated with a software system that keeps track of all the realtor's sales leads and listing information. The system keeps track of each person's name and contact information. This software system is an example of a customer relationship management system.
True--- A CRM system is a system that contains all information related to a business's customer.
Organizations gain many benefits with knowledge management systems, but one of the most important benefits is that the systems make ________________________ available for employees at any time so they can learn the most effective and efficient ways of doing things.
best practices Knowledge management systems are most effective when best practices are maintained and readily available to employees and managers whenever needed. This will help improve the organization's overall performance.Employees and technology should work together to share knowledge across business units to improve an organization's performance.
Enterprise resource planning systems typically utilize one _______________.
database--Enterprise resource planning systems typically utilize one database to store all the information needed by the various business units. This allows for consistency within the business.
A customer relationship management system provides a business with the opportunity to:
integrate information about each client's likes and dislikes to be able to tailor conversations with them.---CRM systems market to each customer individually based on that customer's likes, dislikes, and previous purchasing history.
A business benefit of enterprise resource planning systems is
standardized business procedures---One of the key business benefits of enterprise resource planning is the foundation that it provides for a business to standardize its business procedures across all business units.
