SCM 4380 Midterm Actual Exam Questions With Correct Detailed Answers Guaranteed A+.

business process - correct answer a set of tasks or activities that produce desired outcomes financial accounting - correct answer (track-external) track the financial impacts of process steps with the goal of meeting legal reporting requirements managerial accounting - correct answer (track-internal) focus on internal reporting to manage costs and revenues silo effect - correct answer focusing on functional objectives without regard to process objectives functional structure - correct answer the most common organizational structure, when organizations divide by functions or departments where each are responsible for a set of closely related activities business intelligence - correct answer refers to the overall capabilities; a company uses to collect and analyze data from a variety of sources to better understand its operations and make better managerial decisions supply chain management - correct answer inter-company system; connects a company to other companies that supply the materials it needs to make its products architecture - correct answer technical structure of the software; the ways that users interact with the software, and the ways the software is physically managed on computer hardware application suite - correct answer collection of inter-company systems and the underlying intra-company ERP system enterprise resource planning - correct answer focus primarily on intra-company processes--that is, the operations that are performed within an organization--and they integrate functional and cross-functional business processes data layer - correct answer where the application stores your work (hard drive or flash drive) finished goods - correct answer created by the production process from other materials, raw materials and semi-finished goods, that are generally not purchased. the material master will not include data related to production and fulfillment three tier client server architecture - correct answer separates layers into three separate systems: 1-presentation layer (how you interact with the application) 2-application layer (what the application allows you to do) 3-data layer (where the application stores your work) service oriented architecture - correct answer the technical capabilities that allow systems to connect with one another through standardized interfaces called Web Services trading goods - correct answer materials purchased from a vendor that are sold to the customer without and additional processing such as complimentary goods. the material master will include to purchasing and selling master data - correct answer represent entities associated with various processes accounting data - correct answer tax-related data, bank data, and payment terms and methods; defined at the company code level and are relevant to all purchasing transactions financial accounting data - correct answer valuation currency, valuation class, and price control material master - correct answer includes basic data, financial accounting data, purchasing data, and plant data/storage general data - correct answer the vendor's name, address, and communication information such as phone and fax numvers; common to purchasing and accounting departments vendor master data - correct answer data needed to conduct business with a vendor and to execute transactions related to the purchasing process; three segments: general data, accounting data, and purchasing data company level purchasing organization - correct answer single purchasing organization is responsible for multiple plants in one company code enterprise level purchasing organization - correct answer most centralized; one purchasing organization for the overall enterprise and all the plants within the enterprise third party order - correct answer items that the vendor ships directly to a customer three-way match - correct answer most common method of invoice verification between the purchase order, the goods receipt or delivery document, and the invoice bill to party - correct answer invoice should be sent to someone else ship to party - correct answer materials should be shipped to a different location sold to party - correct answer customer who submits the order distribution channel - correct answer how a company delivers its goods and services to its customers credit management master record - correct answer extension of the customer master record that includes data relevant to managing credit for that customer. three segments: general data, credit control area data, and an overview sales order - correct answer internal document that contains information necessary to fill the customer order in a standardized form make to stock strategy - correct answer the production process is triggered by a need to increase inventory. when inventory falls below certain predefined levels, the make-to-stock process is initiated, even if there is no pending customer order bills of material - correct answer identifies the components that are necessary to produce a material planned order - correct answer a formal request for production that indicates what materials, how many, and when they are needed production order - correct answer created in the authorize production step, represents an actual commitment to produce a specific quantity of materials by a certain date production capacity - correct answer measure of how many units of a material a plant can produce within a given timeframe goods issue - correct answer materials or components are issued to the production order from storage works center - correct answer location where value-added work needed to produce a material is carried out goods receipt - correct answer posted document that states materials produced are placed in finished goods inventory key business processes - correct answer 1. buy, make, sell 2. design, plan, store, service 3. people and projects 4. track financial impacts buy, make, sell - correct answer 1. procurement process 2. production process 3. fulfillment process procurement process steps - correct answer 1. requirements of determination 2. order processing 3. goods receipt 4. invoice verification 5. payment processing requirements of determination - correct answer Triggers: requirement from other processes, manually determined Required data: master data; user input Task completed: create requisition Outcomes: purchase requisition order processing - correct answer Triggers: purchase requisition, RFQ, quotation purchase order Required data: organizational data, master data, transaction documents, user input Task completed: determines source of supply, create purchase order Outcomes: purchase order, purchase requisition update, communicate with vendor invoice verification - correct answer Triggers: invoice from vendor Required data: master data, transaction documents, user input Task completed: three-way match, create invoice document Outcomes: invoice document, purchase order update, FI document, material master update payment processing - correct answer Triggers: verified invoice Required data: master data, transaction documents, user input Task completed: select method, select bank, select items, calculate amount, post payment, print production process steps - correct answer 1. request production 2. authorize production 3. order release 4. goods issue 5. confirmations 6. goods receipt request production - correct answer Triggers: activity in another process, need for materials Data: organizational data, master data, user input Tasks: create planned order Outcomes: planned order authorize production - correct answer Triggers: planned order, need for materials Data: organizational data, master data, user input Outcomes: scheduling, availability checks, reservations, preliminary costing, purchase requisitions order release - correct answer Triggers: order creation Data: order number, system parameters Tasks: release order or operations Outcomes: enable subsequent steps, print shop papers, communicate with PDC system