Week 3 - Transaction processing and ERPs Flashcards
(5 cards)
1
Q
What is an enterprise resource planning system
A
A type of software businesses use to manage day-to-day business activities
2
Q
What are the difeerences between TPS and ERPs
A
TPS are concerned with financial transactions.
ERP is a collection of integrated cross-functional systems.
ERP can do all activities of the business in a single system
3
Q
Mention a few advantages of ERP systems
A
- Improves customer service
- Increases productivity through automation
- Standardization of procedures and reports
- Improves access of control of the data through security settings
- Greater visibility and monitoring capabilities for management
4
Q
Mention a few disadvantages of ERP systems
A
- Costly
- Complexity
- Significant amount of time to implement
- Customising and standardizing a business process
5
Q
What are some of the core modules and functions of ERPs
A
- Sales
- Finance
- Manufacturing
- Suppky chain management
