Chat with AIExam 3: Business Functions and Supply Chains
What difficulties do organizations face for implementing an enterprise resource planning (ERP) system?
(33) 
VerifiedEnterprise resource planning (ERP) packages are quite complex.Because they are not tailored to the needs of specific clients,they often require adjustment and fine-tuning for specific organizations.Therefore,their installation and testing involve experts who are usually employees of the software vendor or professionals who are certified for such work by the vendor.
Even with adjustments-often called "tweaking"-potential adopters must remember that the system was designed for an entire industry,not for the way an individual organization does business.If the organization has a competitive advantage thanks to a unique set of business processes,this advantage may diminish or disappear when the system is installed,because to a large degree the system dictates how business processes should be conducted.The system requirements are quite rigid,and therefore customization of ERP systems is limited.
ERP applications are expensive;modules cost millions of dollars.Buyers usually must allocate several more million dollars to pay for installation and modifications.Installation often takes many months to complete,and budget and time overruns are common.
Implementation of ERP systems can fail because of formidable challenges: the gap between system capabilities and business needs,lack of expertise on the consultant's part,and mismanagement of the implementation project.The business research firm Standish Group found that only 10 percent of ERP implementation projects are completed as planned,on time,and within budget.Fifty-five percent are completed late or over budget (which usually means loss of business and revenue),and the other 35 percent of such projects are canceled because of difficulties.At HewlettPackard,one of the world's largest computer and IT equipment makers,a $400 million loss in the third quarter of 2004 was blamed on poorly managed migration to a new ERP system.
The combination of customer relationship management (CRM) and supply chain management (SCM) systems is referred to as _____.
(34) VerifiedB
Computer telephony integration (CTI) is a technique enabling a computer to use the digital signal coming through a telephone line as___________ in a computer system.
(24) VerifiedB
The purpose of ___________is to track every financial transaction within a company,from a few cents to multimillion dollar purchases,from salaries and benefits to the sale of every item.
(38) ___________is determined by the relationship between resources expended and the benefits gained in achieving a goal.
(41) Ideally,the ISs of manufacturing organizations and their suppliers would be linked in a way that makes them subsystems of one large system.
(39) Human Resources ISs are used extensively for managerial purposes,assisting in organizing quarterly and annual budgets for departments,divisions,and entire corporations.
(42) ___________are software applications that help workers produce more in less time.
(34) ___________participate in physical activities such as cutting and welding in the manufacturing process.
(33) ___________receive records of routine business transactions-such as the purchase of raw materials or services,or the
sale of manufactured goods.
(35) ___________refers to creating one-of-a-kind products to test design in three dimensions.
(39) Productivity tools are software applications that help workers produce more in less time.
(31) The ___________considers several factors such as the item's cost,the discount schedule for large quantities,the cost of warehousing ordered parts,the cost of alternative uses of the money,and other factors affecting the cost of ordering the item.
(35) Material requirements planning (MRP) programs use___________ to put long-lead material on order.
(41) When investing in securities,such as stocks and bonds,it is important to know the prices of securities in real time.
(40) One common use for a cash management system is to execute cash transactions in which financial institutions transfer huge amounts of money using___________ .
(36) ___________emulates situations in which an employee must act and includes tests and modules to evaluate a trainee's performance.
(30) Material requirements planning (MRP) programs use long-range forecasts to put long-lead material on order.
(37) 
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