Chapter 13

Question 1

Strategic decisions

Answer 1

long-term planning designed to achieve a specific goal

Question 2

tactical decisions

Answer 2

are specific actions that serve a larger purpose

Question 3

Reporting Summarization Levels

Answer 3

refers to the level of detail or level of summarization in a report

Question 4

transaction processing system ( TPS)

Answer 4

collects and stores data (typically in a database) regarding the store’s daily sales.

Question 5

graphical reporting

Answer 5

can reveal trends within a business

Question 6

Analysis & Predictive Reporting

Answer 6

generate reports that analyze information and are predictive in nature in order to make strategic and/or tactical decisions

Question 7

how often should business reports be created

Answer 7

depends on the business can be created periodically, weekly, monthly, daily, etc.

Question 8

on demand reports

Answer 8

are created right then and there

Question 9

adhoc reports?

Answer 9

answer specific information and specific criteria

Question 10

what is inventory report used for

Answer 10

• tracking inventory
• sales trends
• suppliers

Question 11

what should be included in an inventory report

Answer 11

1. products
2. products numbers
3. best selling items
4. what you sell
5. inventory that needs to be replaced

Question 12

whats on a business report

Answer 12

1. state income statement
2. information about products and what you’re selling
3. facilitates their decision making
4. helps present factual information that is happening within the business
5. statistical information
6. can be defined by anything the business wants to portray

Question 13

3 types of inventory

Answer 13

• RSL
• Management
• ?

Question 14

what is RSL

Answer 14

how much detail is on the report

Question 15

what is TPS

Answer 15

transporting and captures all that goes through a cash register

Question 16

3 day trend report

Answer 16

what can a store manager pull from this report?
- which category is the best seller in a 3 day trend

• which product is the least selling in a 3 day trend
• can create graphical representation

Question 17

what does analysis and predictive reporting

Answer 17

provides actuals and forecasts

Question 18

forecast

Answer 18

Shows what was projected to happen

forecast heading shows:
actual
forecast
forecast

Question 19

Actual

Answer 19

Shows what happened

actuals heading shows:
actual
previous
forecast

Question 20

Variance

Answer 20

Shows the difference between the Actuals and Forecast columns

Question 21

Management Level Reporting

Answer 21

refers to the level of detail or summarization appropriate for a certain level of employee regardless of report type

Question 22

top-level executive reporting

Answer 22

requires very little detail like that which the transaction processing system reports provide. Executives are interested in the big picture, with reports that offer complete summarization and are highly graphical

Question 23

Management reporting

Answer 23

summarized from the TPS reports and can sometimes be used for strategic decisions, but it is generally used for tactical decisions that require specific actions

Question 24

Supervisory reporting

Answer 24

highly detailed and generated directly from the transaction processing system, and it is rarely used for high-level decision-making