What are the benefits of an ERP system?
Benefits of an ERP system include all of the following EXCEPT: A. The real-time nature of processing increases the total processing time. B. The interactive nature of the modules allows processes to interact with each other. C. ERP systems have evolved from many years of software experience so the software reflects tried and true practices.
Which statement best describes an ERP system?
An ERP system is designed to interact with a stand-alone sales and inventory application to create general ledger information. B. An ERP system is designed to be a stand-alone software application to accomplish revenue, expenditures, conversion, and administrative processes.
How does an ERP system differ from an e-commerce system?
An ERP system will accomplish e-commerce but relies on other software applications for the accomplishment of e-business transactions. D. An ERP system will not collect, process, store, and report the data resulting from e-business transactions. B An ERP system uses: A.
Which data does an ERP system not collect and store?
An ERP system will not collect, process, store, and report the data resulting from e-business transactions. B An ERP system uses: A. One database for each module associated with the organization - sales, inventory, human resources, etc.
What is a benefit of ERP quizlet?
Common ERP Benefits: Integrate financial information. Integrate customer order information. Standardize and speed up manufacturing processes. Reduce inventory.
What is the benefit of an ERP?
Real-time Data & Enhanced Reporting One of the biggest benefits of ERP is that it's a powerful data hub. An ERP system allows you to collect, store, and analyze data across your operations in one centralized location, providing a single source of truth and the visibility to act more strategically.
Is a disadvantage of ERP quizlet?
What are some disadvantages of ERP? Very complex and many companies cannot adjust to it.
What are ERP systems quizlet?
ERP. Enterprise Resource Planning - software that facilitates the FLOW of information across the functional boundaries of an organization effectively (integrated business process)
What are the six key benefits of ERP?
The 6 biggest benefits you'll get from an ERP systemA better view of your business process. ... Improved cooperation. ... Enhanced inventory control. ... Greater customer service. ... Stronger security and regulatory compliance. ... Scalability benefits.
What are the benefits and limitations of ERP?
ERP Benefits: Advantages and DisadvantagesAdvantage #1: Streamline Workflows.Disadvantage #1: Slow Software Implementation.Advantage #2: Better Financial Planning.Disadvantage #2: Expensive to Start (and Continue)Advantage #3: Improved Data Security and Accessibility.Disadvantage #3: Slow Data Migration.More items...•
What are the two main functions of an ERP system?
Enterprise resource planning (ERP) systems have become a critical tool for businesses over the past several decades. An ERP solution automates critical business processes and serves as a shared database for all financial and operational information from across the company.
What do you think the disadvantage of using ERP system?
Disadvantages of ERP are: The success depends on the skills and experience of the workforce, including education and how to make the system work properly. Resistance in sharing internal information between departments can reduce the efficiency of the software. The systems can be difficult to use.
Which of the following are disadvantages or problems in implementing ERP systems?
Cons of ERP – Important Factors & DisadvantagesCosts of an ERP Software. Third-party software add-ins. Implementation costs. ... Complex Data Conversion. Developing a solid data conversion strategy can be difficult. ... Requires thorough training. Training needs to cover all of the ERP system's features.
What is the purpose of enterprise resource planning software quizlet?
Combines departments and functional information systems into a single, integrated software program that runs off a single database so that the various departments can more easily share information and communicate with each other.
What are the components of an ERP system quizlet?
1. What are the components of an ERP system? The three components are hardware, software, and people.
What are the five components of an ERP system?
Five Main Components of the ERP system are as follows :Finance : ... Human Resources (HR) : ... Manufacturing and logistics : ... Supply Chain Management (SCM) : ... Customer Relationship Management (CRM) :