Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Exam 3 > MIS-11 > Flashcards

MIS-11 Flashcards

1
Q

Enterprise system

A

Application used in all the functions of a business that supports decision making throughout the organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Supply chain

A

Integrated network consisting of an organization, its suppliers, transportation companies, and brokers
Used to deliver goods and services to customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Supply Chain Management (SCM)

A
  1. Process of working with suppliers and other partners in the supply chain
  2. Aim is to improve procedures for delivering products and services
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Supply Chain Management (SCM) coordinates the following functions:

A

Procuring materials
Transforming materials into intermediate and finished products or services
Distributing finished goods to customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Communication in a firm’s ___system takes place among product flow, information flow, and finances flow

A

SCM

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Key decisions in SCM related to manufacturing:

A

Location, inventory, production, and transportation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Growing trend of SCM:

A

Green logistics and green SCM

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

SCM Technologies:

A
  1. Electronic data interchange (EDI)
  2. Internet-enabled SCM
  3. E-marketplaces
  4. Online auctions
  5. Collaborative planning, forecasting, and replenishment (CPFR)
  6. 3D printing
  7. Drones
  8. Internet of Things (IoTs)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Electronic Data Interchange (EDI)

A
  1. Enables business partners to exchange information on business transactions
  2. Expedites the delivery of accurate information
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Web-based EDI or Open EDI:

A

Uses the Internet and Web protocols to transmit documents
Lowers cost of transmitting documents
Platform independent and easy to use

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Drawbacks of EDI

A
  1. Uses proprietary standards
  2. Cost per partner is higher when the number of partners is small
  3. Reduced popularity of traditional EDI
    a. Organizations can use the Internet and Open EDI to perform the same function as EDI
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Internet-Enabled SCM improves information sharing throughout the supply chain and:

A

Reduces costs for information transmission and improves customer service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Internet-Enabled SCM improves the following SCM activities:

A

Purchasing/procurement
Inventory management and transportation
Order processing and customer service
Production scheduling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

E-Marketplaces

A
  1. Third-party exchange (B2B model)
  2. Provide a platform for buyers and sellers to interact and trade more efficiently online
  3. Help maintain a competitive edge in the supply chain
    a. Providing opportunities for sellers and buyers to establish partnerships
  4. Offering a single platform for prices, availability, and stock levels that is accessible to all participants
  5. Solving time-constraint problems for international trade
  6. Making it easy to compare prices and products from a single source instead of spending time contacting each seller
  7. Reducing marketing costs more than traditional sales channels
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

E-Distributor is a marketplace owned and operated by a third party that provides:

A
  1. Electronic catalog of products
  2. Maintenance, repair, and operations (MROs) services
  3. Fast delivery of a wide selection of products and services at lower prices
  4. Assistance for companies to reduce the time and expense of searching for goods
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Online Auctions

A

Bring traditional auctions to customers around the globe and are cost-effective for selling excessive inventory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Reverse auctions

A

Invite sellers to submit bids for products and services (One-to-many relationship)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Collaborative Planning, Forecasting, and Replenishment (CPFR)

A
  1. Used to coordinate supply chain members through point-of-sale (POS) data sharing and joint planning
  2. Goal is to improve operational efficiency and manage inventory
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Advantage of CPFR

A

Decreases merchandising, inventory, and logistics costs for all supply chain members

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

(CPFR) Collaboration part of the process is the agreement between all supply chain partners that establishes how:

A

Data is shared
Problems with overstock are solved
Costs are shared or minimized

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Exception management

A

Planning for handling unforeseen problems

Lessons learned can be used in future planning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

3D Printing or Additive Manufacturing

A

Process for making a physical object from a three-dimensional digital model

23
Q

3D Printing or Additive Manufacturing Plays a major role in SCM:

A
  1. Significant reduction in manufacturing lead times
  2. Effectiveness in meeting customer demands
  3. Elimination of the need to carry inventory
  4. Efficiency in the use of materials
24
Q

Drones are used in SCM to:

A
  1. Count, carry, and deliver inventory to specified locations
  2. Supervise animals in agriculture
  3. Perform maintenance tasks in dangerous environments
25
Q

Internet of Things (IoTs) helps achieve the following goals:

A
  1. Reduces inventory loss in warehouses or in transit
  2. Reduces fuel costs
  3. Ensures temperature stability during product transit
  4. Manages warehouse inventory for out-of-stock inventory
  5. Improves customer service and gathers BI regarding product usage
26
Q

Customer Relationship Management (CRM)

A
  1. Consists of the processes a company uses to track and organize its contacts with customers
  2. Improves services offered to customers
  3. Uses customer contact information for targeted marketing
  4. Helps organizations make better use of data, information, and knowledge to understand customers
  5. Marketing strategies focus on long-term relationships and include:
    a. Identifying customer segments
    b. Improving products to meet customer needs
    c. Improving customer retention
    d Identifying a company’s profitable and loyal customers
  6. Provides a complete picture of an organization’s customers
27
Q

Activities in a CRM System

A
  1. Sales automation
  2. Order processing
  3. Marketing automation
  4. Customer support
  5. Knowledge management
  6. Personalization technology
28
Q

Features of CRM Software Packages:

A
  1. Salesforce automation
  2. eCRM or Web-based CRM
  3. Survey management
  4. Automated customer service
29
Q

Personalization

A
  1. Process of satisfying customers’ needs, building customer relationships, and increasing profits
  2. Achieved by designing goods and services that meet customers’ preferences better
30
Q

Customization

A
  1. Allows customers to modify the standard offering

2. Example - Selecting a different home page to be displayed each time the Web browser is opened

31
Q

Personalization Technology

A
  1. Using personalization requires gathering customer information
  2. May affect customers’ sense of privacy
  3. Implementation requires:
  4. Internet and databases
  5. Data warehouse/data marts
  6. Data-mining tools
  7. Mobile networks
  8. Collaborative filtering (CF)
32
Q

Collaborative Filtering (CF)

A
  1. Search for specific information or patterns, using input from multiple business partners and data sources
  2. Identifies groups of people based on common interests and recommends products
  3. Works well for a single product category
33
Q

Drawbacks of CF

A
  1. Needs a large sample of users and content to work well

2. Fails to make recommendations across unrelated categories

34
Q

Application of CF

A

Making automatic predictions about customer preferences based on similar users

35
Q

Knowledge Management (KM) Draws on concepts of organizational learning, culture, and best practices to:

A
  1. Convert tacit knowledge into explicit knowledge
  2. Create a knowledge sharing culture in an organization
  3. Eliminate obstacles to sharing knowledge
  4. Used to improve CRM systems
36
Q

Tools and technologies of KM

A
  1. Groupware to create, manage, and distribute documents in an organization
  2. DBMSs and data-mining tools
  3. Decision support systems
37
Q

Contributions of KM Systems to an Organization

A
  1. Promote innovation by encouraging free exchange of ideas
  2. Improve customer service by reducing response time
  3. Increase revenue by reducing the delivery time for products and services
  4. Improve employee retention rates by rewarding employees for their knowledge
38
Q

Chief Knowledge Officer (CKO) ensures that:

A
  1. Knowledge resources are collected, stored, and disseminated among key decision makers
  2. The organization profits from knowledge resources
39
Q

CKO tries to maximize the return on investment (ROI) related to:

A
  1. KM and knowledge management systems

2. Processes

40
Q

Enterprise Resource Planning (ERP) is an integrated system that:

A
  1. Collects and processes data

2. Manages and coordinates resources, information, and functions

41
Q

___ includes hardware, software, procedures, and input from all functional areas and the systems use a unified database to store data for various functions

A

Enterprise Resource Planning (ERP)

42
Q

ERP Components:

A
  1. Unified database
  2. Inventory Management
  3. Supply Chain
  4. Manufacturing
  5. Human Resources
  6. CRM
  7. Purchasing
  8. Accounting
  9. Vendor Integration
  10. E-Commerce
  11. Sales
43
Q

Unified database

A

Collects and analyzes relevant internal and external data and information needed by other functions

44
Q

Inventory management

A

Inventory management

45
Q

Supply Chain

A

Provides information on supply chain members, including suppliers, manufacturing, distribution, and customers

46
Q

Manufacturing

A

Provides information on production costs and pricing

47
Q

Human resources

A

Provides information on assessing job candidates, scheduling and assigning employees, and predicting future personnel needs

48
Q

CRM

A

Provides information on customers and their needs and preferences

49
Q

Purchasing

A

Provides information related to the purchasing function, including e-procurement

50
Q

Accounting

A

Tracks financial information, such as budget allocations and debits and credits

51
Q

Vendor integration

A

Integrates information for vendors, such as offering automated downloads of data on product pricing, specifications, and availability

52
Q

E-commerce

A

Provides B2C information related to order status and B2B information related to suppliers and business partners

53
Q

Sales

A

Provides information on sales and marketing

54
Q

Benefits of a Well-Designed ERP System:

A
  1. Increased availability and timeliness of integrated information
  2. Increased data accuracy and improved response time
    3, Improved customer and employee satisfaction, planning and scheduling, supplier relationship, and reliability of information
  3. Reduced inventory costs, labor costs, and order-to-fulfillment time

Business Exam 3 (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions