Flashcards on Enhancing Business Processes Using Enterprise Information Systems

These flashcards cover key terms and concepts from the lecture on enhancing business processes through enterprise information systems.

Order-to-Cash

The process of selling goods or services and collecting revenue for them.

Procure-to-Pay

The process of ordering goods or services and paying for them.

Make-to-Stock

The process of manufacturing goods based on forecasts.

Make-to-Order

The process of manufacturing goods based on customer orders.

Enterprise Resource Planning (ERP)

An integrated suite of applications that allows for the management of core business processes.

Standalone Systems

Systems where each department has its own proprietary applications that cannot communicate with each other.

Integrated Enterprise Systems

Enterprise systems that integrate information on a company-wide basis, eliminating data duplication and improving efficiency.

Business Process Management (BPM)

An approach that focuses on improving corporate performance by managing and optimizing a company's business processes.

Core Components of ERP

Financial Management, Operations Management, and Human Resources Management that support internal activities.

Extended Components of ERP

Components that support interaction with external parties such as suppliers and customers.