They do not allow information to be retrieved from many different organizational positions c. They allow any organizational object to be made invisible. They allow information to be stored in multiple databases. In Manufacturing organizations, ERP implementation necessarily automates the following functions: Material Requirement Planning c.
Both a and b d. None of the above 5. Strategic support from the top management. Readiness of employees to embrace the change. Adherence to time schedules. Either a or b 7. The project driven enterprise deals with the design and manufacturing of unique products and services projects for: Multiple clients of same vertical c. Depends upon client to client. Key success factor that decide about product competitiveness: Business experience management c.
Knowledge of Best Practices in the domain d. Inventory of a company refers to: Work In Process c. All of the above Facilities and Inventory b. Transportation and Information c. Which of the following statements is false: Forecasts are never right. The longer the forecast horizon, the better is the forecast. The longer the forecast horizon, the worse is the forecast. Aggregate forecasts are more accurate.
One of the benefits of Supply Chain Management is: Increased Inventory throughout the chain. Factor s that contribute s to Bull Whip Effect: Which of the following statements is true about ERP Implementation: Which of the following factor does not contribute to the success of ERP? Focus on business processes and requirements first. Strong project management and resource commitment. Who plays and important role in the selection of ERP Package?
Knowledge Management cannot be exercised through: Data Entry Operation b. Which of the following is not part of Customer Relationship Management? Sales Force Automation b. None of these EAI is an integration framework composed of a collection of technologies and services.
EAI is the process of linking applications within a single organization together in order to simplify and automate business processes. EAI system could front-end a cluster of applications, providing a single consistent access interface to these applications and shielding users from having to learn to interact with different software packages. Training of end-users b. Training of only process owners c. Data fixes to resolve data migration issues d. Help desk for troubleshooting.
ERP Vendor should be evaluated on: Business functions or modules supported by their software. Features and integration capabilities of the software.
Neither a nor b. Before trying to implement a major ERP system, organizations can assess their ability to be successful through: Any one of these. Which one of the following is key ERP Vendor s: Which one of the following is the key SCM Vendor s: Both a and b Which one of the following is the key CRM Vendor s: Which of the following statement is false: ERP systems are set to proliferate locally. ERP systems implementation is a complex organizational activity.
ERP systems implementation requires strong project management oversight. ERP systems provide improved and added functionality for an organization. Leveling the Competitive Environment. High initial set-up costs. Power and interdepartmental conflicts. Both b and c. Which of the following stage is not part of Business Process Reengineering: Measuring new processes based on meeting goals and vision.
Which of the following is not a core SCM process: Sales Force Automation c. Collaborative Design and Product Development is part of: Still, many risk observers pushed a strong ERM agenda. They recognized the logic of coordinating the management of risk. So why did ERM implementation stall? The answer starts with several definitions of ERM. Enterprise risk management is a broad and complex concept that reaches into every major area of an organization.
As such, it is not surprising that many definitions of ERM have been offered. These definitions fall into three categories. A strategic definition focuses on results, as ERM is expressed in terms of organizational objectives. A functional definition describes ERM in terms of activities that reduce risk. A process definition focuses on actions undertaken by managers to manage risk. A consensus definition might look something like this:.
As organizations reach maturity, they can no longer depend on a rapidly growing market for goods and the continuation of the business that made them successful. They must seek new approaches to operations to increase their success in managing life cycle risk.
It provides a good story about modern risk management. In , Bo Andersson became the top purchasing manager at GM. He also learned that GM had separate engineering for almost every type of vehicle it produced. Vehicles did not share common parts. Seat frames were an example of a particularly interesting subculture feature. They were expensive, partly because GM had 26 different seat frames. Toyota had only two. A similar situation existed with V6 engines. What about fuel pumps? Toyota and Nissan had two.
Moving on, Bo Andersson addressed the rather simple topic of door hinges. He learned that they could be made out of three pieces instead of five. He had a subculture response. Engineers and designers debated the change for more than three months.
Then they reluctantly began a lengthy process of design and testing for the new door hinges. After studying the situation to be sure he understood it, Bo Andersson identified the design and purchasing problems and brought them to the attention of the engineers who worked in manufacturing.
His arguments were carefully framed, but they were not well received. The different units did not support changes, arguing that a change in one component would have ripple effects throughout the entire line of automobiles.
In the end, change came slowly over the period from to BusinessWeek, July 31, GM lacked a modern risk management approach to internal manufacturing. Production efficiency lagged badly while GM failed to make desperately needed changes to be competitive.
Why do we need to manage risk and pursue opportunity in a single coordinated program? We want a better chance to identify, mitigate, avoid, and treat risks that could close us down. We want reliable and predictable behaviors when creating, distributing, financing, and selling products and services. ERM helps the board and CEO meet their shareholder, employee, community, social, and ethical responsibilities.
ERM helps build good relationships with other parties who expect us to observe legal and ethical behaviors in the conduct of our operations.
This affects customers, employees, suppliers, creditors, and regulators. As we move past the definitions and need for ERM, some heavy hitters have joined the discussion. In , the company deployed Risk Management Assessments RMA to help it understand exposures facing nonfinancial companies.
An RMA is built on four pillars, as shown in Figure It believes companies with superior ERM should have great stability of earnings and a high likelihood of repaying debt obligations. Contrast the current state to ERM best practices and produce a gap analysis highlighting areas that need improvement.
Prepare a formal action plan for implementation. Seek quick wins as well as longer-term ERM objectives. Establish a formal monitoring process with continuous evaluation and reporting and follow-up initiatives. Does the reporting structure, including budgeting and capital allocation, contain risk considerations?
Does the company have risk control processes with unit- and operating-level reporting lines and risk discipline? Does the company understand its risk appetite and have controls to set limits in portfolio diversification and business decision-making processes?
Does the company use risk mitigation, risk control, and risk financing processes and technologies? Risk Analysis and Quantification. Does the business quantify the level of risk that is acceptable? Does it have effective risk monitoring and reporting? Risk Infrastructure and Intelligence. Does the company have a risk infrastructure and supporting systems?
Is risk intelligence developed with valid risk models and accurate and timely data? Still, even a high-quality management team can stumble if it does not use ERM. JetBlue Airways, the largest airline at Kennedy, used the airport as the hub of its entire network but was not prepared. Thousands of passengers were trapped in planes on runways for up to eight hours.
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