What are three core activities conducted by a business?
1. Accounting 2. Payroll 3. Personnel
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What is a supply chain?
Describes activities involved in taking a product from raw materials or parts stage to a final product in the hands of a customer. The more efficient the supply chain, the more profitable a product is.
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What is supply chain management software?
Used by businesses to streamline all the activities in its supply chain. Ensures the most efficient use of transportation, labour and stock so customer demands are kept while keeping costs to a minimum.
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What is a Legacy System?
An existing system that is likely to have been used for several years. May not be the latest technology but does its job, they are usually not replaced and are still used because replacing is expensive, disruptive and may not improve the system.
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What is a back-office system?
A system that runs administration processes. The name refers to work that before computers was carried out in a back office rather than in front of customers.
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Give an example of a back-office system.
Bank - produce customer statements, calculate interest, transfer payments.
Describes activities involved in taking a product from raw materials or parts stage to a final product in the hands of a customer. The more efficient the supply chain, the more profitable a product is.
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