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Roles of the Enterprise system:
·
Execute the process (inform, provide data, automation, embedded in the process),
·Capture and store process data (Automatic capture), Monitor performance
Who is this quote by?
"If i had asked people what they wanted, they would have said faster horses" -
Henry Ford
Difference between IT and IS
IT: hardware, software, applications networks
*IS involves people and hardware, software, applications networks
Who is this quote by:
"Where is the life we have lost in living? Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?
TS Elliot
What five forces determine industry structure?
-bargaining power of customers
-threat of substitutions
-bargaining power of suppliers
-threat of new entrants
-rivalry among existing firms.
Inudstry vs Company
Industry: coffee shops
Company: Starbucks
Value
What people are willing to pay
How does an actual company use IS to create competitive Advantages?
1. Enhances existing products
2. Differentiates products
3. Locks in customers
4. Raises barriers to market entry
5. Increases profit margins by decreasing costs and
6. decreasing errors
Business analyst:
strong in business and has a tech background
System analyst:
some business experience and focuses on info systems
Data flow:
movement of data among activities & repositories
Control flow:
directs order of activities.
Why do processes need management?
Improve process quality
Adapt to change in technology
Adapt to change in business fundamentals
Four stages of BPM Cycle:
Model processes
Create components
Implement processes
Assess results
*understand trade off between time, cost, what you get
if a project is done fast, direct costs are high, the longer it takes direct costs may go down but indirect costs increase
Diseconomies of scale(Brook's Scale)
1. Adding more people to a late project makes the project later
2. Productive workers train new people and productivity decreases
3. Schedules compress only so far
4. Once late and over budget no good choice
Principles of Agile:
Expect and welcome changes
Design and test as you go
SDLC vs Agile
Agile is for design as you go and changing- ex a recipe
SDLC is for designing an airport runway. You need data and research prior
Global Competition
design, manufacture, materials, assembly, service
Ex: nike, apple,P&G
Is ICT the cause or result of globalization
Both are right. -
Cause: Video conferencing causes globalization since it makes it easier to work without flying in
or
Results in globalization because you have the technology
Knowledge vs Task worker
Knowledge: Uses knowledge and expertise- accounting, physician, programmer
Task Worker: You have a task and get it done
Business Processes:
Sequence of tasks or activities that take a set of inputs
Key processes for supply chain:
procurement, fulfillment, production
Enterprise Systems:
informs sales, warehouse, and accounting about an order, rather than it being done manually before computers
Fis vs EIS
FIS: only supports one functional area
EIS: supports process among entire organzation
Organizational data
-Companies, sales, divisions, purchasing organizations, physical facilities, hr organization
-Data rarely changes
Transactional data:
data that is in sequence of day to day transaction
Procurement
buying
B2b vs B2C
B2B: more documents, more emphasis on the relationship between consumer and supplier
B2C: fewer documents, more informal
Who is involved in procurement?
all departments are involved in procurement
Intra: vs Inter:
Intra: within a company
Inter: more than 1 company involved
Intra: A Company
PO: Purchase order
agreement to purchase the material for the stated price in the stated term defines payment terms
FOB Free on board:
point at which ownership of material in the shipment actually transfers from one company to another
Instance level information:
meaningful data about a particular step in the overall process
Fulfillment:
selling
Sell from Stock Vs configure to order
Sell from Stock: sell products directly from finished goods or inventory. Iphone or ipad
Configure to order: Custom tesla
Production:
Making a product
assemble vs manufacturing
Assembling: putting things together- a skateboard and assembling it
Manufacturing: process of production of raw materials
Human Capital Management
Involves all the activities related to the recruitment of new employees, the management of those employee's careers while they are working at the company, and the eventual loss of those employees from the workforce due to retirement or termination
Asset Management
Includes activities related to procuring assets, maintaining and repairing assets, replacing assets, accounting for the depreciation of assets, and eventually disposing of, replacing, or retiring assets.
What is Porter's Competitive Strategies? What are the five forces?
Porter's Five Forces is a framework for analyzing a company's competitive environment.
.1. Competition in the industry
2. Potential of new entrants into the industry
3. Power of suppliers
4. Power of customers
5. Threat of substitute products
competitive advantage
used by companies to:
Enhances existing products
Differentiates products
Locks in customers
Raises barriers to market entry
Increases profit margins by decreasing costs and decreasing errors
threat of new entrants,
Threat of new competitors- example:
Rivian coming into the market against tesla
threat of substitution
Consumers find something similiar
Ipods became obsolete to playing music on cell phones
bargaining power of customers/suppliers.
companies and supplier put pressure on the market by raising prices.
Car dealerships have a shortage and can charge over sticker
rivalry among existing firms,
measure of competition
Ex: Verzion vs ATT
High/low barriers to entry.
Barriers could be high or low start up costs, regulations/inspections/permits
Impact of Globalization on Business and ITS
ex: supply chain issues with china affecting US businesses
ICT effect of globalization
reduced costs of outsourcing and increased networking among firms
What is margin, how is calculated?
the difference between what you earned and how much you spent to earn it.
To calculate margin:
Value - Cost
What is a value chain?
a concept describing the full chain of a business's activities in the creation of a product or service
Bikes to rich people vs college kids
competitive advantage
Impact of tradeoffs / triple constraint
Example: you want a job to get done faster so you hire more people but it becomes too expensive for it to be worth it
Diseconomies of Scale - Brook's Law
If a project has already started, adding more people will slow it down
differences between SDLC and Agile/Scrum
SDLC provides a systematic approach to building software towards successful product deliverables within the timelines
Agile has faster development approach and speeds up the development process in an effective and efficient manner.
Streamlining Business Processes - why is this important? What benefits does this add?
important: leads to less error and delay
benefits: Increased productivity by cutting out redundant or inefficient tasks
define a business process
A business process is an activity or set of activities that accomplish a specific organizational goal.
identify the fulfillment process
receiving inventory, storage, order picking, order packing, shipping, delivery and returns.
Functional Organizations vs Process Organizations
Functional orientations are organized along functions, like production, marketing and sales. Process orientations let staff interact between these business functions, or across organizational lines.
identify the procurement processes
Identify which goods and services the company needs. ...
Submit purchase request. ...
Assess and select vendors. ...
Negotiate price and terms. ...
Create a purchase order. ...
Receive and inspect the delivered goods. ...
Conduct three-way matching. ...
Approve the invoice and arrange payment.
Silo Effect
- Occurs when information isn't being shared between departments that need it.
- Weakness is the silo effect itself, while the benefit is that it allows companies to be more efficient.
- Solution to the lack of information flow is implementing an enterprise system.
Types of Enterprise Systems
CRM (customer relations management) SCM (supply chain management)
Master Data, Organizational Data - be able to identify an example of each
master data: customer, data, product data,
organizational data: location, region, layer, level, number of direct reports
Be able to identify potential problems that could result in key business processes if an ES is not present.
accounting and data will not be accurate, pulling data will take too long, inventory management will not be accurate
Definition of Procurement
buying
Definition of Fulfilment
process of taking and send an order to a customer
Process and Instance Level information examples
meaningful data
Definition of Production
making
Roles of enterprise systems
· Execute the process (inform, provide data, automation, embedded in the process),
·Capture and store process data (Automatic capture), Monitor performance
Definition of the integrated process
those that combine more than one specific unit process into a single piece of equipment or into a group of work stations that are operated under unified control