1. Financial management system: Enterprise information system that supports financial accounts and processes, including accounts payable, accounts receivable, procurement, cash management, budget planning assets, general ledger, and related activities.
2. XBRL: Part of XML family of standardized languages specialized for accounting and business reports; tags identify data elements to make them transparent and also computer-readable.
3. Workforce management module: As part of the HCM system, the workforce management module helps trace time and attendance, sick leave, vacation leave, and project assignment.
4. SCM: Strategies that optimize the flow of products and services from their source to the customer.
5. DFA: The difference between forecasted and actual demand.
6. Bullwhip effect: Describes the distortions in a supply chain caused by changes in customer demand, resulting in large swings in inventory levels as the orders ripple upstream from retailer to the distributor and manufacturer.
7. EDI: An electronic bridge between partner companies in a supply chain that is used to transmit real-time information about orders, inventories, invoices, and other data.
8. GPS: Electronic devices that receive signals from orbiting satellites that transmit time and location data.
9. CRM: Encompassed the strategies, processes and information systems an organization uses to build and maintain relationships with its current and prospective customers.
10. Web beacon: A tiny, invisible image, typically a single pixel with a unique identifier, used on websites to tract visitor.
4 True/False Questions
1. Financial management system only supports financial accounts, but does not support processes. (False, because it supports both)
2. The order of steps in supply chain management is plan, source, make, deliver, return. (True)
3. CRM not only supports marketing, but also…