Question 1

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the financial module?
A) Accounts Receivable
B) Receive Payment
C) Marketing Management
D) Inventory

Accepted Answer

Accounts Receivable is a key feature of the financial module in ERP systems, as it deals with managing money that is owed to the company by its customers.

Question 2

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the sales management module?
A) Accounts Receivable
B) Receive Payment
C) Marketing Management
D) Inventory

Accepted Answer

The answer of Successful ERP systems support the core business...

Question 3

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the customer relationship management module?
A) Accounts Receivable
B) Receive Payment
C) Marketing Management
D) Inventory

Accepted Answer

The customer relationship management (CRM) module in an ERP system focuses on managing a company's interactions with current and potential customers. It involves using data analysis about customers' history with a company to improve business relationships, specifically focusing on customer retention and ultimately driving sales growth. Marketing management is a key feature of CRM as it helps in understanding customer needs, preferences, and behaviors, thereby enabling targeted marketing efforts.

Question 4

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the supply chain management module?
A) Accounts Receivable
B) Receive Payment
C) Marketing Management
D) Inventory

Accepted Answer

The supply chain management module in an ERP system focuses on the flow of goods and materials from the point of origin to the point of consumption. Inventory management is a key feature of this module, as it helps in tracking and managing the quantities of goods and materials in stock, ensuring that the supply chain operates efficiently.

Question 5

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the production module?
A) Bill of Material
B) Receive Payment
C) Marketing Management
D) Inventory

Accepted Answer

The production module in an ERP system typically includes the Bill of Material (BOM), which is a comprehensive list of raw materials, components, and instructions required to construct, manufacture, or repair a product or service.

Question 6

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the human resources management module?
A) Accounts Receivable
B) Time and Attendance
C) Marketing Management
D) Inventory

Accepted Answer

The human resources management module in an ERP system typically includes features for managing employee information, including time and attendance tracking, which is essential for payroll and scheduling.

Question 7

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know what were the rent payments for last January?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

Rent payments are financial transactions, so data related to them would be found in the Financials module of an ERP system like NetSuite. This module manages the company's financial transactions, including expenses such as rent.

Question 8

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know to which vendors do we make the most returns?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

The Supply Chain Management module of an ERP system like NetSuite is designed to manage and optimize the flow of goods and materials through the company's supply chain. This includes managing relationships with suppliers and handling returns to vendors, making it the appropriate module to pull data from to determine to which vendors the most returns are made.

Question 9

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know what materials are required to manufacture our top-selling part?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

The Production Management module of an ERP system, like NetSuite, is designed to manage and track the manufacturing processes. This includes information on what materials are required to manufacture products, making it the correct module to pull data from to know what materials are required for the top-selling part.

Question 10

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know what marketing campaigns are planned for next month?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

The Customer Relationships Management (CRM) module in an ERP system like NetSuite is designed to manage a company's interactions with current and potential customers. It involves using data analysis about customers' history with a company to improve business relationships, specifically focusing on customer retention and ultimately driving sales growth. Information about planned marketing campaigns, which are aimed at engaging current and potential customers, would typically be managed and tracked within the CRM module.

Question 11

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know how many orders we received last quarter?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

Sales management is the ERP module specifically designed to track and manage sales orders, including the number of orders received in any given period, such as the last quarter.

Question 12

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know how many new hires did the company have last quarter?
A) Financials
B) Supply chain management
C) Production management
D) Customer relationships management
E) Sales management
F) Human resources management

Accepted Answer

To know how many new hires a company had last quarter, you would pull data from the Human Resources Management module of the ERP system. This module manages employee information, including hiring, payroll, benefits, and performance management.

Question 13

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system is pre-configured to work one way and will work that way immediately when implemented?
A) Out of the box ERP
B) Configurable ERP
C) Customizable ERP
D) Tailored ERP

Accepted Answer

Out of the box ERP systems are pre-configured to work in a specific way immediately upon implementation, without the need for extensive customization or configuration.

Question 14

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system has some add-ins and features that can be customized for customers' needs?
A) Out of the box ERP
B) Configurable ERP
C) Customizable ERP
D) Tailored ERP

Accepted Answer

The answer of Most vendors offer different types of solutions...

Question 15

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system has features that are fully customized for an individual customer's needs?
A) Out of the box ERP
B) Configurable ERP
C) Customizable ERP
D) Tailored ERP

Accepted Answer

Customizable ERP systems allow for features to be fully customized to meet the specific needs of an individual customer.

Question 16

Whether a company needs systems software or application software, they must decide where to acquire it. They can purchase software from a third-party or develop the software in-house. Both methods of software sourcing have risks. Discuss the risks of purchasing third-party software.

Accepted Answer

The answer of Whether a company needs systems software or...

Question 17

Whether a company needs systems software or application software, they must decide where to acquire it. They can purchase software from a third-party or develop the software in-house. Both methods of software sourcing have risks. Discuss the risks of an in-house developed software.

Accepted Answer

The answer of Whether a company needs systems software or...

Question 18

Microsoft sells Excel and Access, two applications that are used to store and analyze data. Discuss how Excel and Access differ.

Accepted Answer

The answer of Microsoft sells Excel and Access, two applications...

Question 19

One of the newer type of technologies that startup companies can leverage is the internet of things (IoT). Discuss some examples of how IoT could be used by a startup company to help them grow and thrive.

Accepted Answer

The answer of One of the newer type of technologies...

Question 20

There are several great accounting software products that companies can choose from, including one of the most popular options on the market, QuickBooks. Discuss areas of the business that QuickBooks is used to manage.

Accepted Answer

The answer of There are several great accounting software products...

Quiz 4: Software and Systems

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the financial module?

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the sales management module?

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the customer relationship management module?

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the supply chain management module?

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the production module?

Successful ERP systems support the core business processes in a company's operations. Every function within the ERP is called a module. Listed below are four key features. Which is a key feature of the human resources management module?

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system is pre-configured to work one way and will work that way immediately when implemented?

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system has some add-ins and features that can be customized for customers' needs?

Most vendors offer different types of solutions for companies to choose from when selecting an ERP system. Which type of system has features that are fully customized for an individual customer's needs?

Whether a company needs systems software or application software, they must decide where to acquire it. They can purchase software from a third-party or develop the software in-house. Both methods of software sourcing have risks. Discuss the risks of purchasing third-party software.

Whether a company needs systems software or application software, they must decide where to acquire it. They can purchase software from a third-party or develop the software in-house. Both methods of software sourcing have risks. Discuss the risks of an in-house developed software.

Microsoft sells Excel and Access, two applications that are used to store and analyze data. Discuss how Excel and Access differ.

One of the newer type of technologies that startup companies can leverage is the internet of things (IoT). Discuss some examples of how IoT could be used by a startup company to help them grow and thrive.

There are several great accounting software products that companies can choose from, including one of the most popular options on the market, QuickBooks. Discuss areas of the business that QuickBooks is used to manage.