The Role of IT in Business (B6:M3) Flashcards
supply chain management is concerned with 4 important characteristics for every sale:
what, when, where goods were delivered and how much the goods cost
what is a benefit of using electronic fund transfer (EFT)?
reduces need for manual data entry; therefore, reducing the occurrence of data entry errors
*paying for a book online using a credit card
what is the definition of enterprise resource planning (ERP)?
cross-functional system that integrates and automates the many business processes that must work together
Business Information Systems (BIS) allow a business to perform which functions on data?
collect, process, store, transform, and distribute
all of the following fall under BIS:
management information (MIS):
- decision support (DSS)
- executive information (EIS)
accounting information (AIS)
inventory management
customer relationship management (CRM)
enterprise resource planning (ERP)
supply chain management (SCM)
what is data mining?
analyzing large datasets to uncover new information. It is impossible to do manually
what are the components of BIS? (5)
hardware, software, network, people, data
what type of processing system would be most appropriate for a retail business?
real-time processing
what kind of processing system is a payroll system?
transaction processing system (TPS)
what is an executive information system?
a system that provides senior executives with immediate and easy access to internal and external information to assist executives in strategic issues
transaction processing
term used to describe processing large numbers of commonly occurring business events in a predefined, highly structured way (aka AIS)
Electronic Data Interchange (EDI)
computer-to-computer exchange of business transaction documents in formats that allow direct processing of data by the receiving system
T or F, an accounting information system is a subsystem within a management information system.
T
