Chapter 7 Flashcards
Study Chapter 7
Order to cash process
The processes associated with selling a product or service
Procure to pay Process
The processes associated with procuring goods from external vendors
Make to stock Process
The processes associated with producing goods based on demand forecasts
Make the order process
The processes associated with producing goods based on sales orders
Core activities
The activities within a value chain that process inputs and produce outputs, including inbound logistics, operational in manufacturing, outbound logistics, marketing and sales, and customer service.
Value chain
The set of primary and support activities in an organization where value is added to a product or service
Value chain framework
Core functions inbound logistics, operations and manufacturing, outbound logistics, marketing and sales, and customer service. Support is provided by the administration, firm infrastructure, human resources, technology department, and procurement.
Enterprise systems
An information system that spans the entire organization and can be used to integrate business processes, activities, and information across all functional areas of a firm.
Enterprise – wide information system
An integrated suite of business applications for virtually every department, process and industry, allowing companies to integrate information across operations on a company – wide basis using one large database.
Enterprise vendors
SAP, Oracle, and Microsoft
Financial management
Allows organizations to manage corporate finance functions by automating financial supply-chain management, financial accounting, and management accounting.
Operations management
Empowers organizations to streamline operations with integrated functionality for managing end – to – end logistics processes while expanding collaborative capabilities and supply-chain management, product lifecycle management, and supplier relationship management
Human resource management
Gives organizations the tools needed to maximize the profitability potential of the workforce, with functionality for employee transaction management and employee lifecycle management
Vanilla version
The features and modules that a package software system comes with out-of-the-box
Custom software
Software programs that are designed and developed for a company specific needs as opposed to be bought off the shelf
