Which of the following is NOT an advantage of an ERP system? d. simplicity and reduced costs (ERP systems are quite complex and costly; they do not offer the advantages of simplicity and reduced costs.)
What are the benefits and challenges of ERP?
One of the sexiest features of ERP is that it allows high-level decision makers real-time snapshots of business operations. This includes an integrated view of areas such as inventory, shipping, supply chain management, manufacturing, sales and financials. All this data provides actionable business intelligence.
What is the importance of ERP system?
ERP applications can help a corporation become more self-aware by linking information about the production, finance, distribution, and human resources together. Because it connects different technologies used by each part of a business, an ERP application can eliminate costly duplicate and incompatible technology.
What are the typical benefits of ERP quizlet?
An ERP provides an integrated, enterprise-wide, single view of the organization’s data and financial situation. Storing all corporate information in a single database breaks down barriers between departments and streamlines the flow of information.
What are two of the main objectives of ERP?
Providing a software map of business functional activities, improving accuracy rate of results, increasing the flexibility of operation and improving productivity are other core objectives of ERP.
Which of the following are disadvantages of ERP quizlet?
Which of the following are disadvantages of ERP? It can be very expensive to implement. It may require extended use of consultants. There are a number of associated hidden costs.
Which of the following is included in an ERP solution?
ERP software can include capabilities for procurement, supply chain management, inventory, manufacturing, maintenance, order management, project management, logistics, product lifecycle management, risk management, enterprise performance management (EPM), human resources/human capital management, and customer …
What is the primary activity of supply chain management?
Supply chain management is the process of delivering a product from raw material to the consumer. It includes supply planning, product planning, demand planning, sales and operations planning, and supply management.
Which one of the following is the main advantage of the supply chain management?
One of the main benefits of supply chain management is that it contributes to data-driven decision-making and profitable partnerships. There are also tools and technologies in place to conduct predictive analysis of potential risks to respond to changes and disruptions better.
Which of the following is a benefit to a business of having an efficient procurement department?
Effective management of procurement will enable an organization to lower costs by procuring supplies, services, and contracts at the best price. Proper procurement management also enables a company to make the most of warranties or discounts that are often forgotten.
How can ERP improve a company’s business performance?
ERP can improve a company’s business performance by developing the most efficient way to plan and schedule resources and optimize productivity. ERP can also offer data visibility to user’s customers and vendors, allowing them to view data in real time and improve relationships in all aspects of your business.
What is ERP and why should businesses need it?
Enterprise resource planning (ERP) is used by organizations looking to manage their business functions within a centralized and integrated system. ERP is commonly used by companies working within the supply chain to help keep track of all the moving parts of manufacturing and distribution.
How does an ERP system impact the organization?
An ERP software flattens organizational hierarchy and downsizes the organization. This result in scaling of operations, reduced cost, better control over business and faster decision making. An ERP software help cross-functional staff to effectively communicate and to better coordinate their task with each other.
What is the major advantage of an ERP over relational databases?
The advantages presented by the ERP are: Elimination of unnecessary operations and data. Reduction of time and costs of litigation. Then, as each module of the ERP system enters the same real-time database, another advantage is that no duplicate records or playback operations, ie, redundancy is avoided.
What are the two main functions of an ERP system quizlet?
1. ERP provides an integrated view of core business processes, often in real-time, using common databases maintained by a database management system. 2. ERP facilitates information flow between all business functions, and manages connections to outside stakeholders.
Is an advantage of cloud based ERP systems?
Advantages for Cloud-based ERP Ease of Implementation: Cloud ERP systems are faster to implement than on-premise ERP systems. The technical environment for cloud technology can be configured in as little as 24 hours.