X201 Lecture Exam 1
Terms
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- Business Process
- a standardized set of activities that accomplish a specific task, such as processing a customer’s order
- Customer Facing Processes
- result in a product or service that is received by an organizations external customer.
- Business Facing Processes
- invisible to the external customer but essential to the effective management of the business and include goal setting, day-to-day planning, performance feedback, rewards, and resource allocation.
- Continuous Process Improvement Model
- attempts to understand and measure the current process, and make performance improvements accordingly.
- Business Process Reengineering (BPR)
- is the analysis and redesign of workflow within and between enterprises.
- Business Process Modeling (or mapping)
- is the activity of creating a detailed flow chart or process map of a work process showing its inputs, tasks, and activities, in a structured sequence.
- Business Process Model
- is a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint.
- As-Is Process Models
- represent the current state of the operation that has been mapped, without any specific improvements or changes to existing processes.
- To-Be process models
- show the results of applying change improvement opportunities to the current (As-Is) process model.
- Business Process Management (BPM
- integrates all of an organizations business process to make individual processes more efficient.
- Information
- Data that are organized in a way that is useful to an organization
- Functional Information Systems
- systems that involved independently of one another. Every department developed their own system
- Enterprise Systems
- support the entire process rather than parts of the process.
- Physical Flow
- the physical activities associated with the business process
- Information Flow
- Is associated with each of instance of the process as well as at an aggregate level, that is, across multiple instances or executions of a process.
- Model
- is a simplified representation or abstraction of reality
- Online Transaction Processing (OLTP)
- is the capturing of transaction and even information using technology to (1) process the information according to the defined business rules, (2) store the information, and (3) update existing information to reflect the new information.
- Transaction Processing System (TPS)
- is the basic business system that serves the operational level (analysts) in an organization. Most common example of a TPS is an operational accounting system such as a payroll system or an order-entry system.
- Online Analytical Process (OLAP)
- is the manipulation of information to create business intelligence in support of strategic decision making
- Decision Support System (DSS)
- models information to support managers and business professionals during the decision-making process. 3 models are 1. Sensitivity Analysis, 2. What-if Analysis, 3. Goal-Seeking Analysis
- 1. Sensitivity Analysis
- is the study of the impact that changes in one (or more) parts of the model have on other parts of the model.
- 2. What-if Analysis
- checks the impact of a change in an assumption on the proposed solution
- 3. Goal-Seeking Analysis
- finds the inputs necessary to achieve a goal such as a desired level of output.
- Executive Information System (EIS)
- is a specialized DSS that supports senior-level executives within the organization.
- Consolidation
- involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information
- Drill-Down
- - enables users to get details and details of details, of information.
- Slice-and-dice
- is the ability to look at information from different perspectives
- Intelligent Systems
- various commercial applications of artificial intelligence
- Market Basket Analysis
- analyzes such items as Web sites and checkout scanner information to detect customers buying behavior and predict future behavior by identifying affinities among customer’s choices of products and services.
- Forecasts
- predictions made on the basis of time-series information
- Time-Series Information
- is time-stamped information collected at a particular frequency
- Supply Chain
- - consists of all parties involved, directly or indirectly, in the procurement of a product or raw material.
- Supply Chain Management (SCM)
- involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability.
- Five Basic Supply Chain Management Components
- 1. Plan 2. Source 3. Make 4. Deliver 5. Return
- Supply Chain Visibility
- is the ability to view all areas up and down the supply chain.