...businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Bank of America offers services to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. In late-2008, Bank of America acquired Merrill Lynch, a long-standing, global investments and financial services firm. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and an online banking with more than 25 million active users. Even if you are not a Bank of America customer, you have probably used some bank’s ATM system and/or online banking services. The following instructions require you to consider the business processes delivered to you as a consumer of banking services via an ATM and to help you explore the underlying information management requirements of an ATM system. Assignment: 1. List the likely core business functions (high level; major business and financial services) at Bank of America as part of...
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...Chapter 2 Information Systems in the Enterprise Prepared by: Mrs Sanjana Motee Bedaysee 1 OBJECTIVES • Major types of systems in organizations • Systems from a functional perspective. • Integrating Functions and business processes (Introduction to Enterprise Applications). • Management opportunities, challenges and solutions 2 Major Types of Systems in Organizations • Since no single system can provide all the information an organization needs or serve all of its interests, unique systems are used to handle the differing operational, management, and strategic-level needs. [Figure 2-1] FIGURE 2-1 Types of information systems 3 Different Kinds of Systems • Organizations can be divided into strategic, management, and operational levels and into four major functional areas: sales and marketing, manufacturing and production, finance and accounting, and human resources. Information systems serve each of these levels and functions. • Operational-level systems support operational managers’ needs for current, accurate, and easily accessible information primarily used to keep track of the elementary activities and transactions of the organization. Management-level systems serve the monitoring, controlling, decision-making, and administrative activities of middle managers. • • Strategic-level systems help senior managers with long-range planning needed to meet changes in the external and internal business environment. There are...
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...covered: 1. Business Functions and Processes 2. The Development of Enterprise Resource Planning Systems 3. The Implementation of Enterprise Resource Planning System 4. Implementation Challenge Q1. Within an ERP system package, name SIX functions that will be covered in Sales and Marketing Module. (6 marks) - Pre-sales - Sales order processing - Inventory sourcing - Delivery - Handle Billing - Payment Q2. Describe how each of the SIX functions in an ERP system package contribute to overall productivity of an organization. (12 marks) Pre-sales o Tracks customer contacts: provides the customer with a price quote Sales order processing • Uses the price quote to record items to be purchased; determines the sales price: record order quantities: configures quantity discounts: checks customer credit Inventory sourcing • Checks the inventory database to see if items can be delivered on time: updates the production planning database to avoid any shortfalls Delivery • Releases documents to the warehouse: item are picked; orders are packed and shipped Bill • Uses sales order data to create an invoice: updates accounting records: increases (debits) accounts receivable Payment • Accepts payment: decreases the customer’s accounts receivable balance with the amount of payment Q3. Give TWO typical problems that are common with manual sales order entry process. (2 marks) - Incorrect pricing Incorrect credit information Q4. With reference to the implementation of ERP system, list any FOUR factors...
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...Logistics has an important relationship to manufacturing, marketing, finance, and other areas of the organization * Logistics Interfaces with Operations/Manufacturing * Logistics Interfaces with Marketing * Logistics Interfaces with Other Areas Interfaces w/operations/manufacturing -Length of production runs Balance economies of long production runs against increased costs of high inventories. -Seasonal demand Acceptance of seasonal inventory to balance lead production times. -Supply-side interfaces Stocking adequate supplies to ensure uninterrupted production now a logistics function. -Protective packaging Principal purpose is to protect the product from damage. -Foreign & third party alternatives Some logistics functions are being outsourced. Logistics Interfaces with Marketing: The Marketing Mix – Four Ps * Price * Product * Promotion * Place -Manufacturing and marketing are probably the two most important internal, functional interfaces with logistics. -Other important interfaces now include finance and accounting. Logistics can have a major impact on return on assets and return on investment. Logistics costs reported by cost systems measure supply chain trade-offs and performance. Economic utilities and means that add value to a product or service in the SCM * Production * Form Utility (by assembling parts into finished...
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...Chapter 1--Introduction to Purchasing and Supply Chain ManagementChapter 1--Introduction to Purchasing and Supply Chain Management Student: ___________________________________________________________________________ 1. The development of progressive purchasing approaches and strategies can only help a company maintain its competitive position. True False 2. Global sourcing is no longer a requirement and is a luxury for most firms. True False 3. Sophisticated customers, both industrial and consumer, no longer talk about price increases; they demand price reductions. True False 4. An abundance of competitors and choices have conditioned customers to want higher quality, faster delivery, and products and services tailored to their individual needs albeit at a higher total cost. True False 5. The availability of low-cost domestic supplier alternatives has led to the shift away from outsourcing and offshoring. True False 6. Competition today is no longer between firms; it is between the supply chains of those firms. True False 7. In the manufacturing sector, the percentage of purchases to sales averages 55%. True False 8. The traditional approach to purchasing and supply management is to build relations with suppliers to jointly pull costs out of the product or service and expect suppliers to contribute innovate ideas that continually add value to a firm's products and services. True False 9. Virtually all of...
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...computerised or may not. Typical tools are: Time series sales modes Brand switching models Linear programming Elasticity models (price, incomes, demand, supply, etc.) Regression and correlation models Analysis of Variance (ANOVA) models Sensitivity analysis Discounted cash flow Spreadsheet 'what if models Sales force management systems are information systems used in CRM marketing and management that help automate some sales and sales force management functions. They are frequently combined with a Marketing Information System, in which case they are often called Customer Relationship Management (CRM) systems. Sales force management systems are essentially the same thing as Sales Force Automation System (SFA). A SFA, typically a part of a company’s customer relationship management system, is a system that automatically records all the stages in a sales process. SFA includes a contact management system which tracks all contact that has been made with a given customer, the purpose of the contact, and any follow up that might be required. This ensures that sales efforts are not duplicated, reducing the risk of irritating customers. SFA also includes a sales lead tracking system, which lists potential customers through paid phone lists, or customers of related products. Other elements of an SFA system can include sales forecasting, order management and product knowledge. More developed SFA systems have features where customers can actually model the product...
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...Information Systems Robert R. Harmon Portland State University I. II. III. INTRODUCTION MARKETING DECISION SUPPORT SYSTEMS CUSTOMER MANAGEMENT SYSTEMS IV. V. PRIVACY AND THE MARKETING INFORMATION SYSTEM CONCLUSION GLOSSARY customer relationship management (CRM) Software applications manage the interaction of customers with an organization. They are used to increase the return on marketing efforts by enabling the understanding of the complete history of a firm’s interactions with its customers. CRM systems are able to target promotions to likely buyers, facilitate sales efforts, and deliver customer service. cybermarketing The convergence of the Internet, computers, information systems, telecommunications and the customer with the marketing process. data mart A scaled down version of a data warehouse that usually holds a subset of the entire data set in order to provide more focused and faster access to specialized data. data mining Computer-based exploration and analysis of large quantities of data in order to discover meaningful patterns and rules for the purpose of improving marketing, sales and customer service operations. data warehouse Electronic storage that is a repository where data from internal and external sources are collected, organized and stored for future analysis. enterprise resource planning (ERP): Software applications that integrate back-office systems for order processing, manufacturing, finance, accounting, and human resources. ERP functions, in...
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...This article can be divided into four parts, explaining the risks of Wellfleet Bank, additional risks after new focus and recruitment, calculation for the proposal and analysis of risk management processes in order. Risks of Wellfleet Bank Given its strategy, Wellfleet bank may face several kinds of risks: credit risk, country or sovereign risk, regulatory risk, compartmentalized risk and market risk. Credit risk was the first one that Wellfleet bank may have. Credit risk arises from the possibility that promised cash flows held by the bank, such as loans or bonds, will not be paid in full. According to the case, the number of proposals for the Group Credit Committee to project increased from 220 (for 2008) to over 300 (for 2009). What’s more, the largest credit proposals were nearing $1 billion each and each of these large-scale credit applications involved a mega-risk. As per the mantra of the bank, “If a billion-dollar deal went wrong, it could sink the ship.” Secondly, regardless of its customer base, which was most of its 6 million retail customers and 15,000 corporate clients resided out of the U.K., Wellfleet’s headquarter was still in London and it complied with regulations and standards like any other U.K.-based banks. Wellfleet considered the “first-world compliance standards” as an important competitive advantage over local rivals in emerging markets. But the risk was its repayments from the local borrowers might be interrupted by the interference of foreign governments...
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...1. Describe three ways in which information systems are transforming business. Transformation of Industrial Economies While leading companies achieve competitive advantage through investments in IT, some are indeed negatively affected by this trend in technology. Today, customers have other preferences hence, old landline communications companies have lessen its customers; travel agencies have reduced over-the-counter sales; and entertainment industries, particularly music and film have lower revenues these past few years as compared with that in the past. But despite of these, technology convergence arises in many ways. IT has broken down boundaries and business relationships while new products and services are introduced. For example, telecommunications network are offering its subscribers with landline telephones merged with Internet services; handheld mobile telephones are becoming Internet access devices and also cellular networks provide financial services to its customers. The bottom-line of it all is that endless possibilities are in the doors of business firms, provided that they are being open to IT-enabled tools and solutions. Negatively affected industries can create new products and services, find another platform to deliver existing products and services, or take partnership from another firm. Transformation of the Business Enterprise One foremost impact of technology is the reduced employees in every organization. While traditional businesses tend to hire...
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...1/22/2015 Database Systems: Design, Implementationa and Management; 01 Flashcards create, study and share online flash cards MyFlashcards FlashcardDB About Help Donate TellFriends! Home >> Flashcards >> Computer Science >> Database Systems: Design, Implementationa and Management; 01 Shared Flashcard Set Details Title Click here to study/print these flashcards. Database Systems: Design, Implementationa and Management; 01 Ch1 19 Computer Science 02/08/2010 Create your own flash cards! Sign up here. Description Total Cards Subject Created Additional Computer Science Flashcards Related Study Documents from www.coursehero.com (What's Course Hero?) Course Hero is an online platform providing educational resources to help students learn more effectively. Subscription required. ch03 ch03 Course: Course: Cards Term Definition ch1, q1: Define each of the following terms: raw facts i.e., telephone number, a birth date, a customer name, and a yeartodate (YTD) sales value. Data have little meaning unless they have been organized in some logical manner data Term Definition ch1, q1: http://www.flashcardmachine.com/databasesystemsdesignimplementationaandmanagement01.html 1/6 1/22/2015 Database Systems: Design, Implementationa and Management; 01 Flashcards Define each of the following terms: a character or group of characters can be alphabetic or numeric that has a specific...
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...features of a business are important for understanding the role of information systems? To achieve operational excellence. To develop new products and services. To attain customer intimacy and service. To improve decision-making. To achieve competitive advantages. To ensure survival. Define a business and describe the major business functions. A business is a formal organization whose aim is to produce products or provide services for a profit. The type of business and organizational setup determines the major business functions. Production will need to be developed; the requirement for machinery and people will be set. Next will need some sort of marketing and sales group, to make and keep track of sales. Then a finance and accounting group to track all expenses. Lastly, an HR department will hire, recruit, and train the work force. Define business processes and describe the role they play in organizations. The actual steps and tasks that describe how work is organized in a business are called business processes. They define how business tasks are performed and refer to unique ways work, information, and knowledge are coordinated in a specific organization. Many business processes are tied specific functional area. Like mentioned above the manufacturing and production group will assemble the product, check quality and producing a bill of materials. The Sales and marketing group identify customers promote the product and sell it. The finance and accounting will pay creditors...
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...improving transaction time, quality, and cost. In addition, many of the political and social factors that have stood in the way of re-engineering have been uprooted. There are too many successful sourcing stories to give credence to anti-outsourcing skepticism around making it work. Can somebody else deal with my customer and maintain my sense of urgency? Can we develop the right working relationship and economic model? Can we create fair and measurable targets? Yes, yes, and yes. While the strategic consideration of outsourcing is a must for everyone, outsourcing may not be. As you plan your sourcing strategy within the Accounts Receivable (AR) domain, there are a number of questions you should be prepared to explore. What to Outsource? A wide span of AR outsourcing services is available. Most of these fall into two categories: sub-processes (order management including credit risk and analysis, billing, invoice collection, cash application, exception management, bad debt collection, reconciliation, and reporting) and customer segments (Tier 1 versus Tier 2 customers). There is also a wide span of outsourcers. Some focus on a single process; others, the entire function. Some have industry expertise;...
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...374 Week 1 DQs For more course tutorials visit www.tutorialrank.com ISCOM 374 Week 1 DQs DQ 1 Pick one article from the course Electronic Reserve Readings (ERR) available in the Course Materials for Week 1. Summarize the main points of either the entire article if it is short or one section of a longer article. Provide your classmates with a concrete discussion of why what you learned is important relative to this week’s learning objectives. Did you learn anything that you could apply some day as you further your career? Be sure to indicate which article you read and properly cite your source. DQ 2 What is the relationship between logistics and the supply chain? What is the relationship between logistics and other business functions within your organization? Explain how the goals of logistics and other business functions align, or should align, to meet organizational...
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...1966, has over 2,000 customers, offers a comprehensive web-based solution to corporate performance management, from strategy to execution to results, all built on a single, central database to provide one version of the truth. Advanced exception alerting and data analysis capabilities show the meaning behind the numbers, and a proven implementation methodology utilizing financial best practices delivers results on time and within budget. SAP R/3 is the former name of the main enterprise resource planning software produced by SAP AG. It is an enterprise-wide information system designed to coordinate all the resources, information, and activities needed to complete business processes such as order fulfillment or billing.[ SAP R/3 was arranged into distinct functional modules, covering the typical functions in place in an organization. The most widely used modules were Financial s and Controlling (FICO), Human Resources (HR), Materials Management (MM), Sales & Distribution (SD), and Production Planning SAP typically focused on best practice methodologies for driving its software processes, but more recently expanded into vertical markets. In these situations, SAP produced specialized modules (referred to as IS or Industry Specific) geared toward a particular market segment, such as utilities or retail. Siemens ShareNet Siemens ShareNet: Building a Knowledge Network [2002]: Describes the development of ShareNet, an innovative knowledge management system used by a division...
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...Mgmt Studies. Unit: Operations Management in Business Unit code: M- QCF level: 5 Credit Value: 15 Tutor: Sabrina Akbar Email- Sabrina.akbar@londonchurchillcollege.co.uk Date Set: 08/02/2012 Learner’s name and statement of authenticity Learner’s Name: …………….. Learner’s ID: Date handed-in: I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged. Signature: ……………………. Date: …………… 1. Introduction: Operations management is concerned about overseeing, redesigning and designing business operation in service or production of goods, efficient use of resources and effectively meeting of customer requirements. Operations management also cover the process which converts inputs into outputs like inputting raw materials or energy and labor and getting goods and services. It considers the utilization, development and acquisition of resources that organizations need to deliver services and goods their customers want. The works and jobs responsibility of operation management starts from strategic planning and ends at operational and technical levels. Operation management use various technology and ideas to reduce production and operating cost and increase productivity, improve customer services, increase product quality and improve flexibility to fulfill customer demands and needs. "The typical organization consists of the integration...
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