Question 1

The use of a shared database and core software modules from a single software manufacturer is an approach that many organizations have taken in the past.

Accepted Answer

False

Question 2

Three key business partners in an ERP project include the ERP system integrator,the ERP software provider,and the ERP software developer.

Accepted Answer

The three key business partners in an ERP project are typically the ERP system integrator, the ERP software provider, and the client organization implementing the ERP system. The ERP software developer is usually part of the ERP software provider.

Question 3

After an ERP project is complete,it is easy to measure the return on investment.

Accepted Answer

It is not easy to measure the return on investment of an ERP project as it involves multiple factors such as long-term impact, intangible benefits, and subjective evaluations. It requires a comprehensive analysis and evaluation of various metrics, including cost savings, process efficiencies, revenue growth, customer satisfaction, and more.

Question 4

The availability of industry-specific ERP solutions provides an opportunity to improve the speed and likelihood of a successful ERP implementation.

Accepted Answer

Industry-specific ERP solutions are designed with the specific needs of an industry in mind, which means they can streamline their implementation process, reduce the amount of customization required, and increase the likelihood of success.

Question 5

When implementing new ERP software,employees need to be given the big picture on the extent of change and how it will impact them personally in terms of changes in their roles,job performance expectations,and interaction with others.

Accepted Answer

When implementing new ERP software, it is important to communicate the big picture to employees and explain how it will impact them personally, including changes in their roles, job performance expectations, and interactions with others.

Question 6

A Deloitte Consulting survey of 64 Fortune 500 companies revealed that two in four confessed to an actual drop in performance for some period of time after their ERP system went live.

Accepted Answer

The answer of A Deloitte Consulting survey of 64 Fortune...

Question 7

The goal of an ERP system is achieved by building multiple databases that are accessed by multiple software modules,which provide support for key business functions for different areas of an organization.

Accepted Answer

An ERP system typically uses a single, centralized database that is accessed by multiple software modules to support various business functions across an organization, ensuring data consistency and integration.

Question 8

Organizations using open source software get the same level of support that they would receive from commercial software providers from the user community.

Accepted Answer

Open source software support from the user community can vary in quality and availability, unlike the structured and guaranteed support typically offered by commercial software providers.

Question 9

The goal of an ERP system is to enable easy access to business data and to create efficient,streamlined work processes

Accepted Answer

The statement is true. The main purpose of an ERP system is to provide a centralized database that can be easily accessed by different departments within an organization. This helps to streamline business processes and improve overall efficiency.

Question 10

According to a recent survey by the Aberdeen Group,nearly 50 percent of U.S.companies view expansion into global markets as a growth opportunity.

Accepted Answer

The answer of According to a recent survey by the...

Question 11

The leading ERP software vendors for large organizations include Infor,Microsoft,Oracle (including its two acquisitions JD Edwards and PeopleSoft),and SAP (Systems Applications and Products).

Accepted Answer

The statement is true. These four vendors are considered the leading ERP software vendors for large organizations.

Question 12

The cost of a typical ERP implementation is quite high,running from several hundred thousand dollars to hundreds of millions of dollars.

Accepted Answer

The cost of a typical ERP implementation is indeed quite high and can range from several hundred thousand dollars to hundreds of millions of dollars, depending on the size and complexity of the organization and the scope of the ERP system being implemented.

Question 13

In addition to following the selected ERP software vendor's implementation process,organizations typically will try to assign employees who have previous ERP implementation experience to the project.

Accepted Answer

This is true, as organizations often seek to have experienced employees on the implementation team in order to ensure a smoother process and better outcomes.

Question 14

Modifying the ERP software to fit the process is a highly desirable choice when customization is needed.

Accepted Answer

Customizing ERP software can be costly, complex, and may lead to issues with future updates and maintenance. It's often better to adapt business processes to fit the software.

Question 15

Training should always be considered a one-time event.

Accepted Answer

Training should not be considered a one-time event as continuous learning and development is necessary to adapt to changes in an organization or industry. Ongoing training can improve skills, knowledge, and performance, leading to increased productivity and success. Therefore, businesses should invest in regular training programs for their employees.

Question 16

There is a high probability that the information in the purchasing department database and accounts payable department database will be inconsistent if a company uses multiple software products.

Accepted Answer

If a company uses multiple software products for the purchasing and accounts payable departments, there is a higher chance that the data entered in these databases will not match or be inconsistent. This can lead to errors in bookkeeping and financial reporting. It is recommended to use centralized software solutions to minimize this risk.

Question 17

Each industry has different business practices that make it unique.

Accepted Answer

Each industry has different practices that make it unique, such as manufacturing, hospitality, healthcare, and finance, among others. These practices may include the types of services offered, pricing strategies, marketing techniques, distribution channels, and regulations.

Question 18

Most ERP software packages are designed so that an organization has to implement the entire package.

Accepted Answer

ERP software packages are often modular, allowing organizations to implement only the components they need.

Question 19

The high cost of ERP software licenses has traditionally kept SMBs with small IT budgets from taking advantage of these powerful applications.

Accepted Answer

The statement is true - the high cost of ERP software licenses has often been a barrier for small and medium-sized businesses with limited budgets.

Question 20

Improved inventory management can eliminate out-of-stock situations,which drive customers to your competitors.

Accepted Answer

Out-of-stock situations are a major factor in customer dissatisfaction and can cause them to look for alternative suppliers. By implementing effective inventory management, businesses can reduce the occurrence of out-of-stock situations and retain customers.

Quiz 8: Enterprise Resource Planning