Question 1

Which of the following is not one of the three most common core ERP components focusing on internal operations?

Accepted Answer

The three most common core ERP components focusing on internal operations are accounting and finance, production and materials management, and human resources. Business intelligence is typically not considered a core ERP component, although it may be included in some ERP systems as an optional module.

Question 2

Which of the following is an extended ERP component?

Accepted Answer

All of the given options are extended ERP components. Business intelligence helps in analyzing data and making informed decisions, e-Business includes all the electronic business processes and applications, and customer relationship management enables companies to manage customer interactions and relationships effectively.

Question 3

Which component is a credit-management feature typically included in?

Accepted Answer

Credit management is a financial function that involves monitoring and controlling a company's credit policy, credit sales, and collections. It is typically included in accounting and finance components as it relates to financial management and budgetary control.

Question 4

What are two of the primary features of e-business components?

Accepted Answer

E-procurement and e-logistics are two primary features of e-business components. E-procurement refers to the electronic purchasing of goods and services, while e-logistics involves the electronic management of the supply chain, including inventory management, packaging, and shipping. Both of these features are essential for a successful e-business operation.

Question 5

Which activities do production and materials management components perform?

Accepted Answer

Production and materials management components handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control.

Question 6

e-Logistics manage the transportation and storage of goods.

Accepted Answer

E-Logistics refers to the use of technology to manage and optimize the transportation, storage, and delivery of goods. Therefore, the given statement is true.

Question 7

Which extended ERP component collects information used throughout an organisation,organises it,and applies analytical tools to assist managers with decisions?

Accepted Answer

Business intelligence is the extended ERP component that collects information from various departments, organises it, and applies analytical tools to assist managers with decision-making. It helps in generating reports, dashboards, and visualisations that provide insights into the performance of an organisation. The other options, e-Business, Customer Relationship Management, and Supply Chain Management, are also important components of ERP, but do not specifically deal with collecting and analysing data for decision-making.

Question 8

Which activities do accounting and finance components perform?

Accepted Answer

Accounting and finance components perform activities such as managing accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management. Option A pertains to HR functions, while Option B pertains to production planning and execution, which are not part of accounting and finance components. Option D is an invalid choice.

Question 9

Which of the following describes an ERP system?

Accepted Answer

All of the answers describe an ERP system, including its foundational role in collaboration between departments, enabling communication across different business areas, and its use in storing critical knowledge for decision-making in large organizations.

Question 10

Which component can help an organisation determine such things as the identification of individuals who are likely to leave the company unless additional compensation or benefits are provided?

Accepted Answer

The human resource components typically include functions such as talent management, employee engagement, and retention. These components can help an organization identify individuals who may be at risk of leaving and provide insights into the types of compensation or benefits that could help retain them. The accounting and finance components may provide data on the cost of such compensation, but may not be as directly involved in identifying which individuals are at risk of leaving. The production and managerial management components may focus more on optimizing production and operations, rather than employee retention. The production and materials management components may focus more on purchasing and inventory management, rather than talent management.

Question 11

In the past,departments made decisions independent of each other.

Accepted Answer

In the past, departments often operated in silos and made decisions independent of each other, leading to inefficient communication and collaboration.

Question 12

What is enterprise resource planning?

Accepted Answer

Enterprise resource planning (ERP) integrates all departments and functions throughout an organisation into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations. ERP systems typically include modules for accounting, finance, human resources, inventory management, purchasing, manufacturing, and sales, among others.

Option A refers to business process reengineering, which is a separate concept from ERP. Option B refers to a standard operating procedure, which is also not the definition of ERP. Option D refers to customer relationship management (CRM), which is a different type of enterprise software system focused specifically on managing customer interactions and improving customer satisfaction.

Question 13

Business intelligence is both a core and extended ERP component.

Accepted Answer

The answer of Business intelligence is both a core and...

Question 14

When a user enters or updates information in one ERP module,it is immediately and automatically updated throughout the entire system.

Accepted Answer

This statement is true. ERP systems are designed to allow for real-time updates and synchronization of data across all modules within the system. This means that any changes made in one module will be immediately reflected in all other modules that use that same data. This helps ensure data accuracy and consistency throughout the entire system.

Question 15

Which of the following can help an organisation maintain consistent business operations?

Accepted Answer

By deciding to use the same vendor for a new system, the marketing, sales and accounting departments are ensuring that they are using a consistent process across the organization. This will help maintain consistent business operations. Option B, C, and D all have the potential to create inconsistency within the organization.

Question 16

Which of the following is a component ERP vendors offer to differentiate themselves in the marketplace?

Accepted Answer

CRM (Customer Relationship Management) is often offered by ERP vendors as a differentiating feature. While accounting, sales, and human resources functionalities are core components of most ERP systems, CRM stands out as a specialized tool that helps businesses manage interactions with current and potential customers, thereby offering a competitive edge.

Question 17

SCM,CRM,and ERP are all extended ERP components.

Accepted Answer

SCM (Supply Chain Management) and CRM (Customer Relationship Management) are often integrated with ERP (Enterprise Resource Planning) systems, but they are not considered extended components of ERP. Instead, they are distinct systems that can work alongside or be integrated with ERP to provide a broader business management solution.

Question 18

Production and materials management is a core ERP component.

Accepted Answer

Production and materials management is indeed a core ERP component. It involves planning, control, and execution of the manufacturing processes, including the procurement and management of required materials and resources.

Question 19

What is the key word in ERP?

Accepted Answer

The key word in ERP is Enterprise, as the system is designed to integrate all the different departments and functions of an organization into a single system. While Resource and Planning are also important aspects of ERP, they are not the central focus of the system.

Question 20

Which activities do human resource components perform?

Accepted Answer

Human resource components typically handle employee-related tasks such as payroll, benefits, compensation, performance assessment, and compliance with legal requirements.

Quiz 10: Enterprise Resource Planning Collaboration Systems