Class 6 Part 3 Flashcards
What does ERP stand for?
Enterprise Resource Planning
ERP refers to a method for effective planning and controlling of resources needed for customer orders in various types of companies.
What is the primary function of Enterprise Resource Planning (ERP) systems?
Integrating business processes into a single software system.
Name a key characteristic of ERP systems.
Highly integrated systems sharing a common data warehouse.
What type of business functions do ERP systems support?
- Manufacturing and production
- Finance and accounting
- Sales and marketing
- Human resources
What does SAP stand for in the context of ERP?
Systems, Applications and Products in Data Processing.
True or False: SAP is a multinational software corporation that provides ERP software.
True
What are the main business functions managed by SAP software?
- Financials
- Logistics
- Supply chain
- Human resources
What are common issues faced when implementing ERP systems?
- High initial cost
- High cost to maintain
- Future upgrades
- Training
What is a critical recommendation for the success of Enterprise Systems?
Secure Executive Sponsorship.
What is the role of outside experts in ERP implementation?
Implementation success is enabled by deep application experience.
How do ERP systems typically handle data?
Using real-time updates.
What does the term ‘Control’ refer to in the context of selecting an ERP system?
Where the power lies related to computing and decision support systems.
What is a key difference between ERP and Supply Chain Management (SCM) software?
ERP primarily manages broad finance, HR, and manufacturing data, while SCM focuses on streamlining supply chain processes.
Fill in the blank: ERP systems are usually ________ applications supported by the vendor.
packaged
What is a significant benefit of ERP systems?
Integrated sharing of information across functions.
True or False: Customization is highly encouraged in ERP systems.
False
What does Human Capital management in ERP systems aim to maximize?
Profitability potential of the workforce.
