Question 1

Most organizations manage their relationships with customers by setting ___________ limits.

Accepted Answer

The answer of Most organizations manage their relationships with customers...

Question 2

Production and materials management is a core ERP component.

Accepted Answer

Production and materials management is an essential module of an ERP system that deals with inventory management, production planning and scheduling, materials requirement planning, and other related activities.

Question 3

_________ and materials management is one of the three most common core ERP components.

Accepted Answer

The answer of _________ and materials management is one of...

Question 4

_____________ ERP components are the traditional components included in most ERP systems and they primarily focus on internal operations.

Accepted Answer

The answer of _____________ ERP components are the traditional components...

Question 5

Human resource components track ___________ information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities.

Accepted Answer

The answer of Human resource components track ___________ information including...

Question 6

Which three basic attributes do successful ERP projects share?

Accepted Answer

Successful ERP projects share overall fit, meaning they are designed to meet the specific needs and requirements of the organization. Off the rack solutions may not be fully customizable, and custom-made solutions can be expensive and overly complex.

Question 7

Business intelligence, customer relationship management, supply chain management, and __________ are the four most common extended ERP components.

Accepted Answer

The answer of Business intelligence, customer relationship management, supply chain...

Question 8

Human resource components have the ability to identify employees that are likely to ________ the company.

Accepted Answer

The answer of Human resource components have the ability to...

Question 9

Oracle and SAP are the biggest ERP vendors.

Accepted Answer

Oracle and SAP are widely recognized as the two largest ERP vendors in the market with an estimated market share of 24% and 16% respectively.

Question 10

____________ manages the transportation and storage of goods.

Accepted Answer

The answer of ____________ manages the transportation and storage of...

Question 11

Accounting and finance components manage accounting data and ______________ processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management.

Accepted Answer

The answer of Accounting and finance components manage accounting data...

Question 12

Human resource component is one of the three most common _________ ERP components.

Accepted Answer

The answer of Human resource component is one of the...

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

Elogistics manage the transportation and storage of goods.

Accepted Answer

Elogistics is a process that manages the transportation and storage of goods using electronic communication technology.

Question 15

Enterprise resource planning ____________ all departments and functions through an organization into a single IT system so that employees can make enterprise wide decisions by viewing enterprise wide information on all business operations.

Accepted Answer

The answer of Enterprise resource planning ____________ all departments and...

Question 16

The business intelligence component of an ERP system typically collects information used throughout the organization, organizes it, and applies analytical tools to assist managers with ________.

Accepted Answer

The answer of The business intelligence component of an ERP...

Question 17

Off the rack, off the rack and tailored to fit, and custom made are the three ways that a customer typically buys a suit and can be applied to the purchase of an ERP systems.

Accepted Answer

The statement accurately describes the three ways customers typically buy a suit and suggests that the same can be applied to the purchase of an ERP system.

Question 18

____________ ERP components are the extra components that meet the organizational needs not covered by the core components and primarily focus on external operations.

Accepted Answer

The answer of ____________ ERP components are the extra components...

Question 19

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

Accepted Answer

The answer of Production and materials management components handle the...

Question 20

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.

Quiz 10: Enterprise Resource Planning