Quiz #8: Enterprise Resource Planning

Why is an organization's chief financial officer more likely to have an accurate picture of its total cash flow if the organization has ERP software that integrates its financial management system? More than one answer may be correct.

1. A single cash flow report can be generated for the entire organization. 2. Real-time cash flow information can be generated quickly, at any time. 3. An ERP system that integrates financial management must be cloud-based.

What business software applications are commonly integrated with an enterprise resource planning (ERP) system as modules? Select all of the correct answer options.

1. CRM 2. PM 3. BI

Describe benefits of cloud-based ERP systems over on-premises ERP solutions. More than one answer may be correct.

1. Cloud-based ERP systems allow organizations to access reports from remote locations. 2. Cloud-based ERP systems have lower IT infrastructure expenses. 3. Organizations using cloud-based ERP systems have reduced IT labor expenses.

What benefits does customer relationship management software (CRM) provide to an organization? More than one answer may be correct.

1. Identify and attract potential customers. 2. Determine ways to sell additional products and services to existing customers. 3. Monitor the amount of time it takes for a product to be delivered after an order is placed.

Which two of the following statements describe key benefits of an integrated computer-assisted design (CAD) module within an ERP system?

1. Managers can track processes that use computer-assisted design throughout an entire manufacturing cycle. 2. Managers can monitor the use of materials, machines and labor, and level of completion within CAD processes.

Which of the following is a benefit to integrating CRM software into an existing ERP? More than one answer may be correct.

1. better visibility of customer relationships 2.faster data access times 3. quicker acquisition of new customers

A manufacturer's latest smartphone has become extremely popular. How can the manufacturer use its ERP system to ensure that its retailers are able to keep the phone in stock? More than one answer may be correct.

1. by obtaining CRM data about customer demand 2. by analyzing BI data about its supply chain 3. by using PM data to adjust its marketing campaign

Describe difficulties in implementing an ERP system. More than one answer may be correct.

1. high costs 2. steep learning curve 3. maintenance costs

Describe the cost benefits of using a cloud-based ERP compared to an on-premise system. More than one answer may be correct.

1. lower IT infrastructure expenses 2. lower maintenance costs 3. reduced IT labor expenses

In what ways do Enterprise Resource Planning (ERP) systems help organizations improve operational efficiency? More than one answer may be correct.

1. provide a centralized database 2. provide access to data 3. offer customization

Of the following benefits, which two can managers access through an integrated HRM software module included in an ERP system?

1. the ability to retrieve and analyze human resources data in a centralized location 2. a presentation that supports decision making through the efficient use of employee data

Describe the factors associated with maintenance costs incurred by employing an enterprise resource planning (ERP) system. More than one answer may be correct.

1. time costs 2. increased IT personnel 3. software consultants

Of the following software packages integrated into an enterprise resource planning system, which one is used by engineers in the design process?

CAD software

ERP software integrates several software packages into a single platform. Which of the following software packages stores employee compensation and performance information?

HRM software

Cloud-based ERP systems are a form of

Software as a Service (SaaS).

A key component, and major advantage, of an ERP is its

centralized database

Which type of ERP module collects data such as customer information, order history, shipping information, and customer satisfactions measures?

e-commerce operations

A manager is using the organization's ERP software to generate a report that links its human resources data to its overall financial performance. What is one type of HR data that the ERP accounting module could factor into this report?

employees' payroll and benefits

While ERP systems offer many competitive advantages to users, particularly those in upper management, a significant disadvantage is their

high costs

What is the overarching goal of organizations choosing to adopt an enterprise resource planning (ERP) system?

increase operational efficiency