ITM 102 chap 9 Flashcards
Enterprise System (Enterprise Resource Planning System ERP)
A set of integrated software module and a central database that enables data to be shared by many different business processes and functional area throughout the enterprise
Financial and Accounting Processes
- General Leger - Account Payable - Account receivable - Fixed assets - Cash management and forcasting - Product-cost accounting - Cost-centre accounting - Asset accounting - Tax accounting - Credit Management - Financial reporting
Human Resources Processes
- Personnel administration - Time accounting - Payroll - Personnel planning and development - Benefits accounting - Applicant tracking - Time management - Compensation - Workforce planning - Performance management - Travel expense reporting
Manufacturing and Production Processes
- Procurement - Inventory management - Purchasing - Shipping - Production planning - Production scheduling - Material requirements planning - Quality control - Distribution - Transportation execution - Plant and equipment maintenance
Sale and Marketing Processes
- Order processing - Quotations - Contracts - Product configuration - Pricing - Billing - Credit checking - Incentive and commission management - Sales planning
Leading Enterprise software vendors
- SAP - Oracle - Infor Global Solution - Microsoft
Benefits of Enterprise System
- Increase Operational efficiency - Provide firm-wide Information - Standerdise and coordinate business processes - Provide manager with up-to-the-minute data for better decision making
Supply Chain
A network of organizations and business processes for procuring raw materials, transforming these materials into intermediate and finished products, and distributing the finished products to customers
Upstream portion of the supply chain
Relationship management with primary, secondary and tertiary supplier
Downstream portion of the supply chain
organizations and processes for distributing and delivering products to the fi nal customers
Just-in-time strategy
Components arrive exactly at the moment they are needed, and finished goods are shipped as they leave the assembly line
Bullwhip Effect
information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain
8 Benefit of supply Chain Management System
- Decide when and what to produce, store, and move - Rapidly communicate orders - Track the status of orders - Check inventory availability and monitor inventory levels - Reduce inventory, transportation, and warehousing costs - Track shipments - Plan production based on actual customer demand - Rapidly communicate changes in product design
Supply Chain Planning System
Enable the firm to model its existing supply chain, generate demand forecasts for products, and develop optimal sourcing and manufacturing plans
Demand Planning
A function of supply chain planing which determines how much product a business needs to make to satisfy all of its customers’ demands
Colaborative Planning, Forecasting and Replenishment
Allows a firm to share and combine its sale forecasts with those of its major sale partners
Supply Chain Execution System
manage the flow of products through distribution centres and warehouses to ensure that products are delivered to the right locations in the most efficient manner
Global Supply Chain Issues
- Geographic distance - Time difference - Cost of transportation and inventory - Local taxes or fees
Supply Chain Management: Phsh-Based Model
Production master schedules are based on forecasts or best guesses of demand for products, and products are “pushed” to customers
Supply Chain Management: Pull-Based / Demand Driven / Built to Order Model
Actual customer orders or purchases trigger events in the supply chain
Business Value of Supply Chain Management Systems
- Decrease supply chain cost - Increase sale
Customer Relationship Management (CRM)
Capture and integrate customer data from all over the organization, consolidate the data, analyze the data, and then distribute the results to various systems and customer touch points across the enterprise
Touch Point / Contact Point
A method of interaction with the customer, such as telephone, e-mail, customer service desk, conventional mail, Web site, wireless device, or retail store
Benefit of Customer Relationship Management
Provide a single enterprise view of customers, and provides customers with a single view of the company regardless what touch point they use
