ITSS 3300 Exam 1 Questions with Answers (All Answers Correct)
3 views 0 purchase
Course
ITSS 3300
Institution
ITSS 3300
What is the bill of materials? - ️️- It identifies the components needed to make one
unit of finished product
- Primary use is to let you estimate the cost per unit and determine the total product cost
- From a manufacturing standpoint, it lets you know/calculate if you have enough raw
mate...
ITSS 3300 Exam 1
What is the bill of materials? - ✔️✔️- It identifies the components needed to make one
unit of finished product
- Primary use is to let you estimate the cost per unit and determine the total product cost
- From a manufacturing standpoint, it lets you know/calculate if you have enough raw
material on hand before a production run.
High _____________________ make it difficult for customers to change to another
product of service:
a.) Elevations
b.) Expectations
c.) Switching costs
d.) Differentiations - ✔️✔️ANSW: C
What is an enterprise system? - ✔️✔️Large-scale applications that support complex
business processes, informational flows, data analytics, and reports in a simplified
manner
Benefits of an enterprise system: - ✔️✔️- Integrated
- Data is always up to date
- Data is easy to access and easy to share
- Informational needs can be more effectively met
Benefits of a functional system approach: - ✔️✔️- Allows a functional department to
specialize in a system that best suits their own needs
Examples of organizational data: - ✔️✔️Plant layout, organizational chart
Examples of master data: - ✔️✔️Customer list, list of products
Transaction data: - ✔️✔️Day-to-day transactions that occur as a result of the business'
operations; generates the most amount of data
Purpose of Porter's Five Forces: - ✔️✔️You're trying to predict the intensity of
competitive rivalry in an industry
, What are the four forces that shape the intensity of the competitive rivalry (rivalry is the
fifth force)? - ✔️✔️- Breadth of new entrance
- Bargaining power of buyers
- Breadth of substitutes
- Bargaining power of suppliers
Three core business processes: - ✔️✔️- Procurement
- Fullfillment
- Production
Threat of new entry: - ✔️✔️- Time and cost of entry
- Specialist knowledge
- Economies of scale
- Cost advantages
- Technology
- Barriers to entry
Competitive rivalry: - ✔️✔️- Number of competitors
- Quality of differences
- Switching costs
- Customer loyalty
- Costs of leaving market
Buyer power: - ✔️✔️- Number of customers
- Size of each order
- Differences between customers
- Price sensitivity
- Ability to substitute
- Cost of changing
Threat of substitution: - ✔️✔️- Substitute performance
- Cost of change
Supplier power: - ✔️✔️- Number of suppliers
- Size of suppliers
- Uniqueness of service
- Your ability to substitute
- Cost of changing
What is the purpose of an information system? - ✔️✔️To automate/execute a process
that spans across multiple functional units in a seamless and integrated fashion.
Information systems are used to make the functions within a business more efficient.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.39. You're not tied to anything after your purchase.
