Question 1

The combination of customer relationship management (CRM) and supply chain management (SCM) systems is referred to as _____.

Accepted Answer

The combination of CRM and SCM systems is referred to as enterprise resource planning (ERP) systems. While DSSs, BI systems, and GISs all have useful applications in business, they do not specifically refer to the combination of CRM and SCM systems like ERP does.

Question 2

Shipping is the next link in the supply chain after the completion of the process of marketing products.

Accepted Answer

Shipping is a part of the logistics and distribution process, which typically occurs after production and before or during the marketing process, not after it. Marketing often continues while products are being shipped and sold.

Question 3

Serving customers better and faster,as well as learning more about their experiences and preferences,is facilitated by decision support systems (DSSs).

Accepted Answer

False

Question 4

Intranets help HR managers post position vacancy announcements for employees to peruse and consider from their own PCs.

Accepted Answer

Intranets facilitate the communication between HR managers and employees within the organization, allowing them to post job vacancies and other relevant information. This can be accessed by employees through their own PCs, which makes the process more efficient and convenient.

Question 5

___________defines the degree to which a goal is achieved.

Accepted Answer

Effectiveness is the degree to which a goal is achieved. It is a measure of how well a process or strategy achieves its intended objectives.

Question 6

Modern customer relationship management (CRM) systems can help capture the entire customer experience with an organization,from response to an online advertisement to automatic replenishment of products to proactive service.

Accepted Answer

Modern CRM systems are designed to capture the entire customer experience, including responses to advertisements, automatic product replenishment, and proactive services.

Question 7

When investing in securities,such as stocks and bonds,it is important to know the prices of securities in real time.

Accepted Answer

Knowing the real-time prices of securities is crucial for making informed investment decisions and assessing the risk involved. The prices of securities can fluctuate quickly, so staying current on them is essential for investors.

Question 8

Productivity tools are software applications that help workers produce more in less time.

Accepted Answer

Productivity tools are designed to improve the efficiency and effectiveness of workers, thereby helping them produce more work in less time. These tools can include project management software, time tracking tools, communication tools, automation software, and other similar applications that streamline workflows and streamline work processes.

Question 9

___________specifically refers to the efficiency of human resources.

Accepted Answer

Productivity refers to how efficiently and effectively human resources are utilized in achieving organizational goals. It measures the output per unit of input, which indicates the level of efficiency of the human resources.

Question 10

The most important development in hardware to support supply chain management has been a technology called radio frequency identification (RFID).

Accepted Answer

RFID technology allows for real-time tracking and monitoring of goods as they move through the supply chain, providing greater visibility and efficiency.

Question 11

Human Resources ISs are used extensively for managerial purposes,assisting in organizing quarterly and annual budgets for departments,divisions,and entire corporations.

Accepted Answer

The answer of Human Resources ISs are used extensively for...

Question 12

Market researchers collect information on what consumers like and dislike about products through interviews with consumers and retailers.

Accepted Answer

Market researchers use various methods to collect information on consumer preferences, including conducting interviews with consumers and retailers to gain insights on what they like or dislike about products.

Question 13

Small businesses cannot use targeted marketing due to their low budget.

Accepted Answer

While small businesses may have limited budgets for marketing, they can still use targeted marketing tactics such as social media advertising, email marketing, and local community events. Targeted marketing can actually be more cost-effective for small businesses because they can reach a specific audience that is more likely to convert into customers.

Question 14

Ideally,the ISs of manufacturing organizations and their suppliers would be linked in a way that makes them subsystems of one large system.

Accepted Answer

This statement is true. Ideally, the information systems (ISs) of manufacturing organizations and their suppliers should be integrated and interconnected to become subsystems of one large system, which would facilitate efficient communication, collaboration, and coordination in the supply chain network. This would help to improve the visibility, accuracy, and timeliness of information exchange, reduce errors, delays, and uncertainties, and enhance the overall performance of the system.

Question 15

Automating the personnel selection process does not require that a current database be maintained.

Accepted Answer

Automating the personnel selection process usually involves the use of software that requires a database of potential candidates to work with. Therefore, maintaining a current database is often necessary for the process to work effectively.

Question 16

Material requirements planning (MRP) programs use long-range forecasts to put long-lead material on order.

Accepted Answer

MRP systems utilize long-range forecasts to plan the materials needed for future production, which includes ordering long-lead items in advance to ensure availability when needed.

Question 17

Enterprise resource planning applications are expensive.

Accepted Answer

Enterprise resource planning (ERP) applications are complex and comprehensive software systems that integrate and manage diverse business functions such as accounting, finance, inventory management, procurement, human resources, and customer relationship management. Implementing an ERP system requires significant investment in software licenses, hardware, system integration, data migration, customization, training, and ongoing maintenance and support. For small and medium-sized businesses, the cost of ERP can be a major barrier to adoption. However, larger organizations with multiple business units and complex processes can benefit from the cost efficiencies, streamlined operations, and improved decision-making enabled by ERP.

Question 18

Enterprise resource planning systems cannot be used for managing daily operations.

Accepted Answer

Enterprise resource planning systems are designed to integrate and streamline all aspects of a company's operations, including daily tasks such as sales, inventory management, and customer service. Therefore, ERP systems can be used for managing daily operations.

Question 19

The purpose of marketing is to track every financial transaction within a company-from a few cents expenditure to a multimillion-dollar purchase,from salaries and benefits to the sale of every item.

Accepted Answer

The purpose of accounting, not marketing, is to track every financial transaction within a company. Marketing focuses on promoting and selling products or services to customers.

Question 20

___________is determined by the relationship between resources expended and the benefits gained in achieving a goal.

Accepted Answer

Efficiency refers to how well resources are allocated and utilized in achieving a goal. It involves minimizing waste and maximizing output, and is determined by the relationship between resources expended and the benefits gained. Therefore, A) Efficiency is the best choice for this question.

Quiz 3: Business Functions and Supply Chains