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3rd year, 1st Sem > ERP Midterms > Flashcards

ERP Midterms Flashcards

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1
Q

is a software system that is used by organizations to manage and integrate the important parts of the businesses. It is the practice of consolidating an enterprise’s planning, manufacturing, sales, and marketing efforts into one management system.

A

Enterprise Resource Planning (ERP)

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2
Q

It can integrate all the processes that are needed to run a company.

A

Enterprise Resource Planning (ERP)

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3
Q

It helps to improve efficiency, better reporting, and enhanced data security.

A

Enterprise Resource Planning (ERP)

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4
Q

These systems can be customized according to the specific needs of the different industries.

A

Enterprise Resource Planning (ERP)

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5
Q

are crucial for large organizations.

A

ERP systems

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6
Q

ERP systems are used to manage financial transactions, produce financial statements such as balance sheets, manage companies’ tangible and intangible assets, and track money owned by and to the organization.

A

Financial Management:

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7
Q

ERP systems help to monitor the stock levels, track inventory movement, manage the movement of goods, and automate the purchasing process.

A

Supply Chain Management

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8
Q

In an organization, ERP systems help to manage employee records, automate payroll processing, and manage recruitment and onboarding

A

Human Resources

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9
Q

ERP systems help in sales automation, automate marketing campaigns, track customer interactions, and improve customer satisfaction.

A

Customer Relationship Management (CRM)

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10
Q

ERP systems support project planning and scheduling, and monitor project time and expenses for accurate cost estimation.

A

Project Management

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11
Q

ERP systems help in production planning, list all the raw materials required for product manufacture, and monitor the production process.

A

Manufacturing

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12
Q

ERP evolved _____frominto comprehensive business solutions integrating finance, HR, and procurement. Today, it leverages AI, cloud computing, and IoT to enhance automation, security, and real-time decision-making.

A

simple inventory management systems

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13
Q

Material Requirements Planning (MRP) systems were introduced that were focused on inventory management and production planning.

A

1960s (Beginnings)

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14
Q

systems were introduced that were focused on inventory management and production planning.

A

Material Requirements Planning (MRP)

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15
Q

Material Requirements Planning (MRPII) is introduced with a few additional manufacturing processes added to MRP such as capacity planning, shop floor control, and quality management.

A

1970s (MRP Expansion)

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16
Q

is introduced with a few additional manufacturing processes added to MRP such as capacity planning, shop floor control, and quality management.

A

Material Requirements Planning (MRPII)

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17
Q

This era marks the introduction of ERP which integrated various business functions like finance, HR, and procurement into a single system.

A

Introduction of ERP (1980s)

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18
Q

Relational Databases were introduced that improved data storage and retrieval.

A

Introduction of ERP (1980s)

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19
Q

In this era there was a shift from Mainframe to Client-Server Architecture.

A

Growth and Adoption (1990s)

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20
Q

ERP systems became more customizable.

A

Growth and Adoption (1990s)

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21
Q

ERP systems enabled remote access and cloud-based solutions.

A

Web-based ERP (2000s)

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22
Q

Emergence of SaaS ERP solutions offered lower initial costs and easier maintenance.

A

Web-based ERP (2000s)

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23
Q

There was widespread adoption of cloud-based ERP solutions.

A

Cloud and Mobile ERP (2010s)

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24
Q

Mobile apps and mobile-friendly ERP interfaces were introduced.

A

Cloud and Mobile ERP (2010s)

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25
Integration of AI and ML in ERP systems for predictive analysis and enhanced decision-making.
Intelligent ERP (2020s)
26
Integration of ___ in ERP systems for predictive analysis and enhanced decision-making.
Artificial Intelligence and Machine Learning
27
Introduction of Blockchain Technology in ERP transactions enhanced security and transparency of the transactions.
Intelligent ERP (2020s)
28
Use of IoT devices in ERP systems for real-time data collection and monitoring.
Intelligent ERP (2020s)
29
ERP systems help to reduce manual work, thus freeing up employees for more strategic activities.
Reduces Manual Work
30
These systems help to improve efficiency by integrating different business processes and ensuring smooth operations.
Improved Efficiency
31
ERP systems provide real-time data enabling timely and improved decisions.
Up-to-Date Information
32
These systems ensure that all the teams work on the same data thus reducing misunderstandings.
Fosters Collaborations
33
They help in cost saving by streamlining the processes and improving productivity.
Reduces Operational Cosys
34
ERP systems help to manage customer interactions and improve satisfaction.
Integrates CRM
35
ERP systems allow for better performance management by tracking KPIs and other metrics.
Tracks KPIs
36
- General Ledger - Fixed Assets - Cash Management
Financials
37
- Receivables - Invoicing - Order Management - Return Order Management
Sales & Receivables
38
- Payables - Invoicing - Order Management - Pricing & Discovering
Purchase & Payables
39
- Stock Keeping Unit & BQM - Substitution & Cross Reference - Item Tracking & Cycle Count - Logistics - In & Out Bound
Inventory & Warehouse
40
R & o Supply Planning Capacity Planning
Planning
41
Marketing Automation Telemarketing Sales force automation
CRM
42
Production Order Bill of Material
Production
43
Recruitment Performance management Compensation Training & Development
HRMS
43
Projects Quality Enterprise Asset Management
Add-Ons
44
Employee Customer Salesperson Vendor
Web Portal
45
Business Analytics Business Intelligence Report Builder
Analytics
46
User Management Configuration Tool Business Connection Backup/Restore
Administration
47
Powerful real-time data processing AI and machine learning capabilities Scalable for global enterprises Strong financial management and analytics
SAP S/4HANA
48
Expensive implementation and maintenance Complex setup requiring extensive training High dependency on consultants
SAP S/4HANA
48
Large enterprises, manufacturing, automotive, and financial services
SAP S/4HANA
49
Growing mid-sized businesses, e-commerce, technology, and professional services
ORACLE NETSUITE
50
Can be costly for small businesses Customization requires technical expertise Limited offline functionality
ORACLE NETSUITE
51
Cloud-based with easy accessibility Scalable for small to large businesses Strong financial and accounting features Customizable with many third-party integrations
ORACLE NETSUITE
52
Seamless integration with Microsoft products (Excel, Teams, Power BI) Flexible cloud and on-premise deployment AI-powered analytics and automation Strong CRM (Customer Relationship Management) capabilities
Microsoft Dynamics 365
53
Complex licensing and pricing structure Some modules lack depth compared to specialized competitors May require additional customization for specific industries
Microsoft Dynamics 365
54
Small to mid-sized businesses, retail, healthcare, and service-based industries
Microsoft Dynamics 365
55
Startups, SMEs, retail, and small-scale manufacturing
Odoo
56
Open-source and highly customizable Affordable pricing, especially for small businesses Modular structure allows businesses to add features as needed User-friendly interface
Odoo
57
Large manufacturers, distribution, healthcare, and supply chain management
Infor CloudSuite
58
is a 2 to 5 minute story of an enterprise. It is used to introduce and sell a business idea to potential investors or customers.
pitch
59
can be a powerful tool for persuading potential investors or customers to support your business. It is important to make sure that your pitch deck is clear, concise, and persuasive. PITCHING IS A PERFORMANCE
well-crafted pitch
60
knowing the outcome that needs to be achieved after the Pitch
Objective of the Pitch
61
research and understand who your audience is. What are they looking for? What do they need to hear? What is important to them?
Know your audience
62
your pitch needs to be unforgettable and one way to do this is to create a story around what you need to sell.
Craft a compelling story
63
In this section, introduce yourself. Your name and your position in the company. Briefly introduce your company and what it does.
slide 1: title
64
State the problem that your company intends to solve. Why does this problem need to be solved? Be specific and use data or examples to illustrate the magnitude of the problem.
slide 2: problem
65
This slide should describe your product or service and how it directly solves the problem identified in the previous slide.
slide 3: solution
66
Who are they? What are their needs and pain points? How big is your target market?
slide 4: target market
67
Keeping the SDGs in mind, include here how you integrated the Goals, target/s, and/or indicator/s to your business model.
slide 5: business model
68
This slide should introduce your team and highlight their experience and expertise that can contribute to the achievement of your goals. Be sure to emphasize why your team is the right team to execute on your business plan or your project goal.
slide 6: team
69
This slide should demonstrate that your business is gaining traction. This could include metrics such as customer growth, revenue growth, or product engagement. You can show actual customer feedback, online reviews, and customer testimonials.
Slide 7: Traction
70
This slide should provide a high-level overview of your company's financials. This could include your revenue projections, cost structure, and profitability outlook. Starting with the historical data, you can project your growth based on the identified target market potential, revenue streams, and cost efficiencies that you wish to achieve.
Slide 8: Financials
71
This slide should summarize the key reasons why investors should invest in your company. Be sure to highlight your unique value proposition, your team's experience, and your market opportunity.
Slide 9: Investment highlights
72
This slide should tell your audience what you want them to do next. This could be to invest in your company, sign up for your beta program, or learn more about your product or service. Be clear and concise about the action that you wish your audience to take.
Slide 10: Call to action

3rd year, 1st Sem (3 decks)

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