IDIS 344 Exam 1 johnson Study Guide with Complete Solutions
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Course
IDIS 344
Institution
IDIS 344
IDIS 344 Exam 1 johnson Study Guide
with Complete Solutions
ERP System - ️️ Correct-Integrates finances, manufacturing, and HR into single
computer system; look for cost and functionality
ERP acronym - ️️ Correct-Enterprise Resource Planning
Why ERP - ️️ Correct-STREAMLINES busines...
2. inven control.. - ✔️✔️Correct-1. tracks vendors and generates AP
2. tracks items and produces analytics, generates AP cust strat track sales
3 trends driving growth in the wholesale distribution industry - ✔️✔️Correct-1. investment
in tech
2. renewed focus on basics (blocking and tackling)
3. e-commerce
what to do before implementing new tech - ✔️✔️Correct-1. conduct SWOT (strength,
weakness, oppur, threats) analysis
2. develop implementation plan
3. determine ROI
4. get buy in from employees
5. budget completely
6 .stay with it
GOLDILOCKS theory of inventory mgmt - ✔️✔️Correct-Don't stock too little or too much,
stock just the right amount
inventory mgmt is a combo of 2 things - ✔️✔️Correct-science (tech)
art (knowledge and experience)
factors implementing Inventory mgmt in the real world - ✔️✔️Correct-Market
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