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Enterprise Resource Planning > LESSON 1 > Flashcards

LESSON 1 Flashcards

1
Q

ERP is a system that optimizes the flow of __________, __________, and ______ in an organization.

A

information
materials
cash

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2
Q

The study of ERP is the study of ___________.

A

business

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3
Q

The Functional Area of Operations
(M&S, SCM, A&F, HR)

A
  1. Marketing and Sales
  2. Supply Chain Management
  3. Accounting and
    Finance
  4. Human Resources
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4
Q

ERP systems provide
real-time access to
data, allowing users
to make informed
decisions promptly.

  • Characteristics of ERP
A

Availability of
Data in Real Time

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5
Q

ERP centralizes data
storage and
processing,
streamlining
operations across
different departments.

  • Characteristics of ERP
A

Centralized Data
Processing

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6
Q

ERP systems allow
customization and
ensure transparency
by making data
accessible to
authorized users.

  • Characteristics of ERP
A

Flexibility &
Transparency Of Data

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7
Q

ERPs automate
processes like
inventory
management,
reducing manual
effort and minimizing errors.

  • Characteristics of ERP
A

Automatic
Information

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8
Q

Organizations can
tailor ERP interfaces to
match their specific needs.

  • Characteristics of ERP
A

Customized Look
And Features

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9
Q

ERP systems connect various functions within an organization,
allowing seamless data flow and process integration across
departments.

  • Common Feature of ERP
A

Enterprise-wide Integration

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10
Q

ERPs provide real-time access to data, enabling timely decision-
making and efficient operations.

  • Common Feature of ERP
A

Real-time Operations

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11
Q

Centralized data storage and management are essential features of
ERP systems.

  • Common Feature of ERP
A

Database

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12
Q

ERP ensures uniformity and consistency in processes and data
handling.

  • Common Feature of ERP
A

Consistency

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13
Q

This type of ERP is installed and maintained on the company’s own servers or data centers. It provides full control over customization and security but requires
local infrastructure management.

  • Type of ERP
A

On-premises Software

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14
Q

Cloud-based ERPs are hosted on remote servers and accessed via the internet. They offer scalability, automatic updates, and reduced infrastructure costs.

  • Type of ERP
A

Cloud Software

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15
Q

Hybrid ERPs combine elements of both on-premises and cloud solutions. They allow organizations to balance customization and flexibility with cloud benefits.

  • Type of ERP
A

Hybrid Software

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16
Q

ERP systems enhance
accuracy by automating
processes and ensuring
consistent data. Increased accuracy leads to improved productivity.

  • Benefits of ERP
A

Improves Accuracy & Productivity

17
Q

ERPs provide robust reporting capabilities, allowing organizations to
analyze data efficiently and make informed decisions.

  • Benefits of ERP
A

Improves Reporting

18
Q

By streamlining workflows and integrating various functions, ERPs boost
overall operational efficiency.

-Benefits of ERP

A

Increases Efficiency

19
Q

ERP systems facilitate
communication and collaboration across departments, fostering better teamwork.

  • Benefits of ERP
A

Increases Collaboration

20
Q

ERP systems help categorize and organize data, making it easier to manage information across different departments. By streamlining processes and ensuring consistent data categorization, accuracy improves, leading to better decision-making and increased productivity.

  • Strategy to Improve Accuracy and Productivity
A

Categorization

21
Q

ERP software allows real-time access to data, reducing the need for lengthy in-person meetings. Instead, teams can collaborate virtually, saving time and improving productivity. For example, managers can review reports directly within the ERP system, eliminating the need for physical meetings.

  • Strategy to Improve Accuracy and Productivity
A

Avoid Sitting Meetings

22
Q

ERP systems automate various tasks, including time tracking. By efficiently managing work hours, employees can focus on value-added activities. For instance, ERP modules for project management track project timelines, resource allocation, and progress, enhancing overall efficiency.

  • Strategy to Improve Accuracy and Productivity
A

Tracking Time

23
Q

ERP solutions often include task management features. Employees can create
and prioritize tasks within the system, ensuring nothing falls through the
cracks. This organized approach enhances productivity by providing a clear roadmap for daily activities.

  • Strategy to Improve Accuracy and Productivity
A

The To-Do list

24
Q

ERP systems enable organizations to automate data collection and generate regular reports. By setting up a consistent reporting schedule, companies can
ensure timely access to critical information. This consistency improves
decision-making and overall productivity.

  • Strategy to Improve Reporting
A

Establish a Consistent Reporting Schedule

25
Q

ERPs often provide tools for creating visual dashboards and reports. Effective data visualization enhances understanding, making it
easier for stakeholders to interpret complex information. Clear visuals lead to better insights and informed actions.

  • Strategy to Improve Reporting
A

Work on Your Data Visualization

26
Q

ERP systems streamline data collection by automating processes. Instead of manual data entry, ERPs capture information directly from
various sources (e.g., sales transactions, inventory levels,
production data). Automation reduces errors, saves time, and
improves reporting accuracy.

  • Strategy to Improve Reporting
A

Automate Your Data Collection

27
Q

When implementing an ERP, organizations
should identify key performance indicators (KPIs) relevant to their business. These metrics serve as benchmarks for
success. By focusing on meaningful KPIs, companies can track progress, measure
performance, and drive continuous improvement.

  • Strategy to Improve Reporting
A

Start With Some Goal Metrics

28
Q

ERP systems allow organizations to define clear objectives and
milestones. By setting achievable goals, teams can focus their efforts effectively, leading to increased efficiency.

  • Strategy to Increase Efficiency
A

Set Reasonable Goals

29
Q

ERPs streamline processes by automating routine tasks. Instead of
striving for perfection in every detail, organizations can prioritize essential
functions and optimize workflows. This pragmatic approach enhances overall efficiency.

  • Strategy to Increase Efficiency
A

Let Go Of Perfection

30
Q

ERP implementation often involves reevaluating existing processes. By creating a conducive work
environment—both physically and digitally—employees can work more efficiently. For example, optimizing ERP interfaces and reducing clutter can lead to better productivity.

  • Strategy to Increase Efficiency
A

Improve Your Environment

31
Q

ERPs automate repetitive tasks, freeing up time for value-added activities. Employees can focus on
strategic decision-making, problem-solving, and innovation. Efficient time management within an ERP system contributes to overall productivity.

  • Strategy to Increase Efficiency
A

Use All Your Time

32
Q

ERP systems often involve cross-functional teams. Implementing
team-building activities fosters better collaboration, trust, and
communication among team members.

  • Strategy to Increase Collaboration
A

Team Building Games

33
Q

ERPs provide collaboration features like shared workspaces,
document management, and communication channels. Utilizing these tools enhances teamwork and ensures everyone
is on the same page.

  • Strategy to Increase Collaboration
A

Use a Team Collaboration

34
Q

Effective communication is vital for collaboration. ERPs streamline communication by providing centralized platforms for discussions, announcements, and updates.

  • Strategy to Increase Collaboration
A

Improve Employee Communication

35
Q

Engaged employees are more likely to collaborate effectively. ERPs can enhance engagement through features like
employee self-service portals, performance tracking, and recognition programs.

  • Strategy to Increase Collaboration
A

Improving Engagement

36
Q

This is about what your company wants to achieve in the future. It describes your long-term goals and what you aspire to become. It’s like a dream or a big picture of where you want your company to go.

A

Company Vision

37
Q

This is about what your company does. It explains the purpose of your company, what you
do, who you serve, and how you do it. Think of it as your company’s daily work and goals.

A

Company Mission

Enterprise Resource Planning (2 decks)

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