ERP Basics Flashcards
What are Enterprise Resource Planning (ERP) applications?
Integrated software platforms designed to streamline and manage core business processes across an organization
ERP applications connect various departments, enabling seamless data flow and improved decision-making.
What is a key feature of ERP applications regarding business processes?
Integration of Business Processes
ERP systems unify data and processes across departments, eliminating data silos.
What modules are included in ERP systems for finance and accounting?
- General ledger
- Accounts payable/receivable
- Budgeting
- Financial reporting
These modules help manage financial activities and reporting.
What functionalities does the Human Resources (HR) module of ERP systems handle?
- Payroll
- Recruitment
- Employee records
- Performance management
This module streamlines HR processes and data management.
What does the Supply Chain Management (SCM) module optimize?
- Inventory
- Procurement
- Order management
- Logistics
SCM focuses on improving supply chain efficiency.
What are the key functions of the Manufacturing module in ERP applications?
- Production planning
- Scheduling
- Quality control
- Shop floor operations
This module ensures effective manufacturing processes.
What does the Sales and Customer Relationship Management (CRM) module track?
- Sales pipelines
- Customer interactions
- Marketing campaigns
CRM helps manage customer relationships and sales efficiency.
What is one of the real-time capabilities of ERP systems?
Real-Time Data and Reporting
ERP systems provide insights through dashboards and analytics for informed decision-making.
What tasks does automation in ERP systems help with?
- Invoicing
- Payroll
- Inventory updates
Automation reduces errors and improves operational efficiency.
What is a benefit of ERP applications related to business growth?
Scalability
ERP systems can grow with the business, accommodating new users and processes.
What are the compliance and security features of ERP applications?
- Adherence to industry regulations
- Data security through role-based access controls
These features ensure safe and compliant operations.
What is one benefit of ERP applications regarding efficiency?
Improved Efficiency
ERP systems streamline operations and reduce manual effort.
How do ERP applications enhance collaboration?
Enhanced Collaboration
They break down departmental barriers with shared data.
What is a financial benefit of using ERP applications?
Cost Savings
ERP systems optimize resources and reduce operational costs.
What advantage do ERP applications provide for decision-making?
Better Decision-Making
Access to real-time data and analytics aids strategic planning.
What impact do ERP applications have on customer satisfaction?
Customer Satisfaction
They improve service delivery through better order tracking and communication.
Which ERP vendor is known for robust and scalable solutions?
SAP
SAP is recognized for its comprehensive ERP offerings.
What does Oracle offer in terms of ERP systems?
Comprehensive ERP systems with strong financial and supply chain capabilities
Oracle’s solutions cater to diverse business needs.
What unique feature does Microsoft Dynamics 365 provide?
Integrates ERP and CRM functionalities with Microsoft’s ecosystem
This integration enhances usability for businesses using Microsoft products.
What type of ERP solutions does Infor specialize in?
Industry-specific ERP solutions
Infor tailors its offerings to meet specific industry needs.
What is NetSuite known for?
A cloud-based ERP system ideal for small to mid-sized businesses
NetSuite offers flexibility and scalability for growing companies.
What are the three deployment options for ERP systems?
- On-Premise
- Cloud-Based
- Hybrid
These options provide flexibility in how ERP solutions are implemented.
True or False: ERP applications are essential for modern businesses.
True
They help optimize operations, improve productivity, and maintain competitiveness.
