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Exam 1 MGT 268

QuestionAnswer
A sequence of tasks or activities that takes a set of inputs and converts them into desired outputs is called Correct a business process Answers: globalization Income statement Correct a business process an ERP system
nformation technology can enable departments to more efficiently and effectively perform their core ____________. Facts Feedback mechanisms Correct Business operations Media issues
Feedback is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions.
Cheryl is responsible for compiling, analyzing, and evaluating daily sales numbers to determine the company's profitability and forecast production for the next day Craig Newmark is customer number 15467
Lead Time amount of time between placing a PO and receiving goods.
Cycle time measures the time to complete the fulfillment process.
The age we live in has infinite quantities of facts that are widely available to anyone who can use a computer. What age is this statement referring to? Information Age
Information is data converted into useful, meaningful context. What are data characteristics that change or vary over time? Variables
duties include managing the overall processes for the company and transforming the steel resources into goods. Which department would Greg most likely work in? Operations Manager
What are the minimum pieces of information required to create a purchase requisition Material Quantity Delivery Date
hat are the two types of account data needed to process a payment? Bank and Vendor Account
hat information is needed to convert a purchase requisition to a purchase order? Vendor
What information is required to record a goods receipt? Backorder Quanitity Quantity
What is the purpose of entering the amount from the invoice? Verification that the amount invoiced matches the amount ordered and received
procurement process, which department creates the Purchase Order? Sales
An invoice does not include which of the following data? price/cost F.O.B. Point quantity
which of the following documents identifies the material needed, the quantity needed, and the date it is needed? Invoice Goods Receipt Document Packing List
What is one of the most common ways a company can decrease supplier power? Charge lower prices.
Which of the following are examples of process-level information in the procurement process? The average time to receive materials from a specific vendor and the most frequently ordered material
Why must the free-on-board (FOB) point be specified? It determines the ownership of materials in case of loss or damage during shipment. It determines the quantities of materials shipped.
Which of the following documents is an agreement to purchase? Purchase Order
Payment terms are declared on what document? Purchase Order
What information is needed to convert a quotation to a sales order? Sold-to Party Correct Customer Purchase Order Number Correct Quotation Number Correct Material Correct Customer Purchase Order Date
What are the types of data needed to create an invoice? Billing Date Billing Document Type Outbound Delivery Number
What are the types of data needed to post an incoming payment? Customer Account Correct Bank Account Correct Invoice Amount
What are the minimum pieces of information required to create a quotation? Sold-to Party Correct Material Correct Valid-to Date
What is the key piece of data needed to begin the pick and pack step of the fulfillment process? Sales Order Number
What is the purpose of entering the pick quantity for each material on the order? Verification that the quantity of materials in the shipment match the quantity on the order
What information is required to record a goods receipt? Storage Location Correct Quantity
Created by: nguyem11
 

 



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