What does “ERP” stand for and what is it?
- “Enterprise Resource Planning”
- It’s a set of integrated programs that manage a company’s vital business operations…. basically, “the system that does everything”
What does “SCM” stand for and what does it help to eliminate?
-Supply Chain Management
-System that manages products going through this process: (supplier -> manufacturer -> wholesaler -> retailer -> consumer)
-Helps eliminate the bull-whip effect
What’s the accounting system’s relationship to the ERP?
It’s often a part of the ERP, but there are many stand-alone systems that are widely used.
What does “CRM” stand for and what is it?
-“Customer Relationship Management”
-Designed to help a company ‘keep tabs on’ their customers.
What is the main goal of using a CRM system?
To increase customer loyalty
What does EIS stand for and what is it?
- Executive Information Systems
- It is a system used by execs to get a top level view of the different aspects of the company to help them make decisions
Sustaining vs Strategic Information Systems
Sustaining: Core business systems that run day-to-day processses (ie. record transactions)
Strategic: A system that provides strategic advantage
What is the most common type of system and what is it used for?
- Transaction Processing Systems (TPS)
- Used for daily transactions, usually sales
You’re doing great keep it up
I know!
What does MIS stand for and what is it?
- “Management Information Systems”
- Used by managers to help make decisions
What does DSS stand for and what is it?
- “Decision Support System”
- Used by managers to help make decisions
What are the three levels of benefit that information systems provide to a company?
- Operational
- Management
- Strategic
What does COTS stand for & in what context is it used?
- “Commercial-off-the-shelf” products
- Purchasing pre-made information systems
