ERP: Enterprise Resource Planning

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What is the primary function of Enterprise Resource Planning (ERP) software?

To manage and integrate core business operations (correct)

To prioritize supply chain management over other business areas

To focus only on human resource management

To manage only financial aspects of a business

Which of the following is a characteristic of On-Premise ERP systems?

Hosted on remote servers

Fully maintained by the company (correct)

Accessible only through internet connection

Managed by a third-party provider

What is the primary advantage of Cloud-Based ERP systems?

Flexibility to access information from anywhere (correct)

Cost-effectiveness

Increased security

No need for maintenance and upgrades

What is the main difference between On-Premise ERP and Cloud-Based ERP?

Location of hosting and maintenance Signup and view all the answers

What is the primary benefit of integrated modules in ERP systems?

Modules work together using the same data to meet the company's needs Signup and view all the answers

What type of ERP system is suitable for small-scale businesses?

Open Source ERP Signup and view all the answers

What is a key benefit of linking the manufacturing module to demand planning?

Minimizing overbuying and underbuying Signup and view all the answers

Which module of the ERP system tracks and updates inventory levels in real-time?

Inventory Management Signup and view all the answers

What is the primary function of the Warehouse Management module?

Executing warehouse activities Signup and view all the answers

What is one of the benefits of using a cloud-based ERP system for small businesses?

Lower upfront cost Signup and view all the answers

Which ERP module deals with the flow of goods and services from raw materials to final products?

Supply Chain Management Signup and view all the answers

What is the primary focus of the Customer Relationship Management (CRM) module?

Enhancing customer service Signup and view all the answers

What is the primary purpose of the Procurement ERP module?

Purchasing raw materials or finished goods Signup and view all the answers

Which ERP module allows retailers and brands to manage and market their online stores?

Ecommerce Signup and view all the answers

Why do large companies often opt for on-premises or hybrid ERP systems?

To have unlimited control over their systems Signup and view all the answers

What is a characteristic of ERP systems for midsize businesses?

They automate some activities and provide visibility into critical company data Signup and view all the answers

What is the purpose of the Finance ERP module?

Managing the enterprise's financial activities Signup and view all the answers

What is a drawback of implementing an ERP system?

Long deployment period and high cost Signup and view all the answers

What is the primary focus of the MARKETING AUTOMATION module?

Digital marketing efforts Signup and view all the answers

Before selecting an ERP system, what should a company do?

Form a cross-functional team to determine requirements Signup and view all the answers

What is the purpose of the DESIGN phase?

To decide on customization and workflow changes Signup and view all the answers

Why is TESTING an essential step in ERP implementation?

To ensure everything is working as expected Signup and view all the answers

What is a crucial aspect of the DEPLOYMENT phase?

Prioritizing employee training Signup and view all the answers

What is an option for businesses during the DEPLOYMENT phase?

Opt for a phased rollout or deploy all modules at once Signup and view all the answers

What is the primary purpose of an Accounting Information System (AIS)?

To collect, store, manage, process, retrieve, and report financial data Signup and view all the answers

Which of the following is an example of a non-financial transaction?

Adding a new supplier of raw materials to the list of valid suppliers Signup and view all the answers

What is the primary characteristic of a financial transaction?

It is an economic event that affects the assets and equities of the organization Signup and view all the answers

What is the primary benefit of using specialized consultants to implement ERP systems?

To include additional configurations to the system Signup and view all the answers

Which of the following ERP software options is open-source?

Odoo Signup and view all the answers

What is the primary function of the subsystems of an Accounting Information System (AIS)?

To process financial transactions and non-financial transactions Signup and view all the answers