ERP Systems

What does ERP stand for?

• Enterprise Resource Planning

• Enterprise Risk Planning

• Enterprise Resource Programming

• Enterprise Reporting Process

Which of the following is NOT a core module of ERP systems?

• Finance and Accounting

• Human Resources

• Website Development

• Supply Chain Management

Which module in an ERP system deals with recruitment, payroll, and employee data?

• Finance

• Human Resources

• Inventory Management

• Customer Relationship Management

The primary benefit of integrating various business functions into an ERP system is:

• Increased cost

• Integration of business processes

• Difficulty in data access

• Increased manual data entry

Which of the following ERP deployment strategies involves implementing the entire system at once?

• Big Bang Approach

• Phased Approach

• Parallel Approach

• Gradual Approach

Which ERP module would handle the process of purchasing goods from vendors?

• Finance and Accounting

• Supply Chain Management

• Procurement and Purchasing

• Customer Relationship Management

What is a significant advantage of cloud-based ERP systems over on-premise ERP systems?

• Higher upfront costs

• Faster deployment and automatic updates

• Greater data control

• No need for internet connectivity

Which of the following ERP vendors is known for its industry-specific solutions?

• SAP

• Microsoft Dynamics 365

• Infor

• Oracle ERP Cloud

ERP systems help businesses comply with industry regulations by providing tools for:

• Data migration

• Auditing and compliance management

• Customization

• Decision-making

Which of the following is a future trend in ERP systems?

• Mobile ERP

• Increased data silos

• Manual data entry

• Delayed reporting