IDIS 344 Exam 1 Johnson Study Guide with Complete Solutions 100% Verified ERP System - Correct Answer Integrates finances, manufacturing, and HR into single computer system; look for cost and functionality ERP acronym - Correct Answer Enterprise Resource Planning Why ERP - Correct Answer STREAMLINES business improves efficiency reduce cost helps with stratification integrates all aspects of oper.ERP tracks - Correct Answer products, salesforce, customers, vendors, financials, analytics ERP is NOT - Correct Answer not autopilot for businesses, not substitute for knowledge and experience adv of erp for dist - Correct Answer **complete situational awareness of all operations** improves op eff reduces cost & inc profit integrates ERP cycle - Correct Answer item ordered item received item into inventory item sold
- inventory mgmt..
- inven control.. - Correct Answer 1. tracks vendors and generates AP
- tracks items and produces analytics, generates AP cust strat track sales 1 / 2
- trends driving growth in the wholesale distribution industry - Correct Answer 1. investment in tech
- renewed focus on basics (blocking and tackling)
- e-commerce
- develop implementation plan
- determine ROI
- get buy in from employees
- budget completely
- .stay with it
- critical questions for building the ERP - Correct Answer 1. what items are in our inven
- who are our suppliers
- / 2
what to do before implementing new tech - Correct Answer 1. conduct SWOT (strength, weakness, oppur, threats) analysis
GOLDILOCKS theory of inventory mgmt - Correct Answer Don't stock too little or too much, stock just the right amount inventory mgmt is a combo of 2 things - Correct Answer science (tech) art (knowledge and experience) factors implementing Inventory mgmt in the real world - Correct Answer Market economy competition vendors customers mother nature man made events Why did we receive this item in inventory? - Correct Answer Initial stock of new item, restock existing item, special order item