Chapter 3: Business Functions and Supply Chains

Question 1

______ defines the degree to which a goal is achieved.

Answer 1

Effectiveness

Question 2

_______ is the relationship between resources expended and benefits gained in achieving a goal.

Answer 2

Efficiency

Efficiency = Benefits / Costs

Question 3

_______ specifically refers to the efficiency of human resources.

Answer 3

Productivity

Question 4

________ system helps serve customer better and faster. It is often combined with SCM systems to create an ERP system.

Answer 4

Customer relationship management (CRM)

Question 5

A ________ is an authorization to perform work for a specific purpose, such as constructing a part of an airplane.

Answer 5

work order

Question 6

________ are systems that deal specifically with cash.

Answer 6

Cash management systems (CMSs)

Question 7

________ is the electronic transfer of cash from one bank account to another.

Answer 7

Electronic funds transfer (EFT)

Question 8

________ is the time between generating an idea for a product and completing a prototype that can be mass manufactured.

Answer 8

Time to market

Question 9

_______ is the process of a group of colleagues meeting and working collaboratively to generate creative solutions and new ideas.

Answer 9

Brainstorming

Question 10

________ tools help to create, modify, and store designs and drawings electronically.

Answer 10

Computer-aided design (CAD)

Question 11

_______ creates one-of-a-kind products to test design in three dimensions. Allows rapid production of a model.

Answer 11

Rapid prototyping

Question 12

_______ systems instruct machines how to manufacture parts and assemble products.

Answer 12

Computer-aided manufacturing (CAM)

Question 13

______ consists of procurement of raw materials, processing materials into goods, and delivering goods.

Answer 13

Supply chain

Question 14

________ consists of monitoring, controlling, and facilitating supply chains.

Answer 14

Supply chain management (SCM)

Question 15

_______ is also known as inventory control.

Answer 15

Material requirements planning (MRP)

Question 16

______ is a list of all raw materials and subcomponent demands to produce a product.

Answer 16

Bill of materials (BOM)

Question 17

________ is the optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines.

Answer 17

Economic order quantity (EOQ)

Question 18

________ combines material requirements planning (MRP) with other manufacturing-related activities to plan the entire manufacturing process.

Answer 18

Manufacturing resource planning (MRP II)

Question 19

The _______ specifies how production capacity is to be used to meet customer demands.

Answer 19

Master production schedule (MPS)

Question 20

________ manufacturing is where suppliers ship parts directly to assembly lines, saving the cost of warehousing raw materials, parts, and subassemblies.

Answer 20

Just-in-time (JIT)

Question 21

_______ is a technology containing circuitry that allows recording of information about a product.

Answer 21

Radio Frequency Identification (RFID)

Question 22

_________ is a code on an RFID tag that provides more information than the Universal Product Code (UPC).

Answer 22

Electronic Product Code (EPC)

Question 23

________ systems are designed to support marketing, sales, and customer service.

Answer 23

Customer relationship management (CRM)

Question 24

_______ helps discover populations and regions that are most likely to purchase product.

Answer 24

Market research

Question 25

_______ means to promote to people most likely to purchase products.

Answer 25

Targeted marketing

Question 26

________ means marketing over the telephone.

Answer 26

Telemarketing

Question 27

________ allows computer to use telephone line as input. Caller ID can be used to locate customer data.

Answer 27

Computer Telephony Integration (CTI)

Question 28

_______ uses large data warehouses to find trends and shopping habits of various demographic groups.

Answer 28

Data mining

Question 29

_______ offer the ability to accurately and efficiently gather various dimensions of consumer information in real-time, such as when and where they shop and what they buy.

Answer 29

Location-based services

Question 30

_______ equips traveling salespeople with IT to facilitate their productivity.

Answer 30

Salesforce automation

Question 31

_____ is the intraorganizational network that supports web applications. It allows HR manager to post position vacancy announcements for employees to peruse and consider from their own PCs.

Answer 31

Intranet

Question 32

________ is the number of times the business sells its inventory per year.

Answer 32

Inventory turns

Question 33

________ system manages daily operations and facilitates planning.

Answer 33

Enterprise resource planning (ERP)