MIT4034– Enterprise Resource Planning (ERP)

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[ WINTER, 2015 ] ASSIGNMENT

PROGRAM	Master of Science in Information Technology(MSc IT)Revised Fall 2011
SEMESTER	4
SUBJECT CODE & NAME	MIT4034– Enterprise Resource Planning (ERP)
CREDITS	4
BK ID	B1638
MARKS	60

Note: Answer all the questions.

Question. 1. Define ERP. What are the benefits of ERP?

Answer:Enterprise resource planning (ERP) is a category of business-management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities, including:

·         product planning, cost

·         manufacturing or service delivery

·         marketing and sales

·         inventory management

Question. 2. What are the limitations of integrated management information system?

Answer:A Management Information System (MIS) focuses on the management of information systems to provide efficiency and effectiveness of strategic decision making. The concept may include systems termed transaction processing system, decision support system, expert system, or executive information system. The term is often used in the academic study of businesses and has connections with other areas, such as information

Question. 3. What are the general characteristics of management information systems?

Answer:For information to be useful to the decision maker, it must have certain characteristics and meet certain criteria.

Some of the characteristics of good information are discussed as follows:

i. Understandable:Since information is already in a summarized form, it must be understood by the receiver so that he will interpret it correctly. He must be able to decode any abbreviations, shorthand notations or any other acronyms contained in

Question. 4. Explain cost objects planning.

Answer:An Unexpected Cost: For many years, Carl has been operating his own business selling tools. He begins every day with a morning meeting in which all of his managers report on productivity and voice any concerns. However, one morning Carl has a different approach to his meeting. You see, after speaking with the finance department, Carl was informed that a large portion of profits was being used to fix and maintain some of the machines found within the business. So during the morning meeting, Carl decides to ask his managers what they think about the conditions of the machines. After countless opinions, Carl realizes

Question. 5. Explain why quality management is vital for companies?

Answer:Managing quality is crucial for small businesses. Quality products help to maintain customer satisfaction and loyalty and reduce the risk and cost of replacing faulty goods. Companies can build a reputation for quality by gaining accreditation with a recognized quality standard, such as ISO 9001, published by the International Organization for Standardization.

Customer Expectations: Your customers expect

Question. 6. Compare Commercial ERP and Open Source ERP.

Answer:Here is the comparison between Commercial and Open Source ERP software systems. This study has been made considering different parameter. Study concludes commercial erpsoftwares are suitable only for big corporations and open source business software should be the choice of small and medium scale industries.Know what is open source ERP before proceeding with this study.

Study has been made on following 10 factors while

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