MIS304 Exam #3 (Ch. 7-9, Assignments
A6, A7, Python EC)
Traditional Organizational Functions - CORRECT ANSWER traditional functions within
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organizations include marketing + sales, supply chain management, accounting &
finance, human resources, and more!
These functions are HIGHLY INTERDEPENDENT with many functions assisting or
affecting another function. This makes the exchange of information (usually through
Information systems) within organizations ESSENTIAL!
✭ Core Business Process & Organizational Value Chain - CORRECT ANSWER 1.
Order-to-Cash (selling)
2. Procure-to-Pay (buying)
3. Make-to-Stock (manufacturing)
4. Make-to-Order (manufacturing)
Order-to-Cash - CORRECT ANSWER ** SELLING
- the process of selling goods & services & collecting revenue for them. This includes
every aspect of receiving an order, fulfilling it, and receiving payment. It involves
multiple business functions (marketing + sales, supply chain management, accounting &
finance, manufacturers & operations) & quality exchange of information!
* Can you imagine how much time and complexity this process would take a company
like Amazon without Information Systems? Information systems help business to
operate effectively & efficiently AND add VALUE!
Steps: (1) Create Customer Record, (2) Check Credit, (3) Create Order, (4) Allocate
Stock, (5) Pick, Pack & Ship, (6) Prepare & Send Invoice, (7) Collect Payment
Procure-to-Pay - CORRECT ANSWER ** BUYING
- the process of ordering goods & services & paying for them. This includes every
aspect necessary to acquire goods or materials for operations. It involves multiple
business functions (marketing + sales, supply chain management, accounting &
finance, manufacturers & operations) & quality exchange of information!
Steps: (1) Negotiate Price & Terms, (2) Issue Purchase Order, (3) Receive Goods, (4)
Receive Invoice, (5) Settle Payment
Make-to-Stock - CORRECT ANSWER ** MANUFACTURING
- the process of manufacturing goods, either based on forecasts or orders.
- The make-to-stock process is based on forecasts or budgeted sales figures and is
simpler since it is usually used with standard or commodity products (cheap, high
volume).
Steps: (1) Procure Inputs, (2) Schedule Production, (3) Production, (4) Quality Control,
(5) Stock Product
Make-to-Order - CORRECT ANSWER ** MANUFACTURING
- the process of manufacturing goods, either based on forecasts or orders.
- The make-to-order process is more complex sin [Show Less]