ch1 Flashcards
intro to business processes (27 cards)
cross-functional
work horizontally crosses vertical functional silos
enterprise systems (ES)
support end-to-end processes. responsible for great gains in productivity. SAP is most popular globally.
functional structure
each function responsible for RELATED ACTIVITIES
8 typical functions
1 - purchasing 2 -operations 3 - warehouse 4-sales/marketing 5-research and development 6-finance and accounting 7-human resources 8-information systems
silo effect
business functions become isolated from the rest of the company
business process
set of tasks or activities that produce desired outcomes.
- all triggered by some event (like ordering online).
- w/o collaboration between specialists, will be ineffective
procurement process
buying materials needed
production process
actually make the product internally
fulfillment process
selling and delivering your product
lifecycle data management process
design of the product
material planning process
plan materials/quantities when to order and produce. match supply and demand
inventory and warehouse management (IWM) process
store and track the materials
asset management and customer service process
repair internal assets and products sold
project management process
plan and execute large products
financial accounting (FI) process
track financial impacts of process steps for legal reporting
mangement accounting (CO) process
internal financial reporting to manage profitability
human capital management (HCM) process
recruiting, training, benefits management
procurement process steps
1-create purcahse requistion 2-create and send order 3-receive materials 4-recieve invoice 5-send payment
purchase requisition
purchase order REQUEST
production process steps
1-request production 2-authorize production 3-issue raw materials 4-create product 5-recieve finished goods
fulfillment process steps
1-recieve customer purchase order 2-create sales order 3-prepare shipment 4-send shipment 5-create and send invoice 6-recieve payment
lead time
lag time between order placement and recieving shipment
projects vs process
project are very large and short term
accounting settlement
assign costs and revenues to activity, usually kinda unclear
