Revision Bitesize Business Accounting

Revision Bitesize Business Accounting Questions

What is the definition of the following terms:

1)  Enterprise Resource Planning (ERP) System

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2)  Supply Chain Management

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3)  Business-to-business (B2B)

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4)  Supply Chain

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5)  Business-to-consumer (B2C)

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6)  Electronic Commerce (e-commerce)

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Revision Bitesize Business Accounting Answers

1)  A suite of software modules, each of which relates to a function of the organisation, such as order processing, production, creditor control, debtor control, payroll, marketing, and human resources.

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2)  The system of control over the information and/or item flows both within and outwith the organisation that comprise the supply chain.

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3)  Businesses purchase from other businesses and/or sell their goods and services to other businesses.

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4)  Everything within the two end-points of the continuous sequence running from demand forecasting through to receipt of payment from customers.

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5)  Businesses sell to consumers.

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6)  The use of electronic telecommunication technology to conduct business transactions over the Internet.

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