Chapter 6 Keyword List:

Transactions Processing: Whenever two people make an exchange, it is called a transaction. Collecting data about them is called transaction processing.

Point of Sale (POS) Cash Register: A computerized cash register that rings up sales in a retail setting, processes payments, and tracks all of your sales, inventory, and customer data within one system. The best POS systems also have employee management and marketing features for your business built in.

Bar Code, Radio Frequency Identification (RFID), QR Code

Process Control: Process control is an engineering mechanism that uses continuous monitoring of an industrial process’ operational variables (e.g., temperature, pressure, chemical content) and algorithms and then uses that information to adjust variables to reach product output specifications and objectives.

Mass Customization: Mass customization is the process of delivering wide-market goods and services which are modified to satisfy a specific customer's need. Mass customization is a marketing and manufacturing technique which combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.

Electronic Data Interchange (EDI) The concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices. Proprietary EDI

Extensible Markup Language (XML) used to provide an open standard to exchange EDI information on the internet.

Extensible Business Reporting Language (XBRL) A freely available and global framework for exchanging business information and reporting to the Securities and Exchange Commission. Sarbanes-Oxley

Business Integration. Workflow

Enterprise Resource Planning (ERP): a type of software that organizations use to manage day-to-day business activities. It integrates applications throughout the enterprise into one compatible system, avoiding communication problems among incompatible systems. General Ledger. Accounting Cycle, Checks and Balances, Inventory. Human Resource Management. Production Management and Bill of Materials. Supply Chain Mangement

Just-in-time Inventory: A management strategy that aligns raw-material orders from suppliers directly with production schedules.

Customer Relationship Management (CRM) From Salesforce: a technology for managing all your company’s relationships and interactions with customers and potential customers. From Wikipedia: It uses data analysis about customers' history with a company to improve business relationships with customers.

Digital Dashboard an electronic interface that aggregates and visualizes data from multiple sources, such as databases, locally hosted files, and web services. A more general term for digital dashboard is Executive Information System (EIS)

Selecting an ERP: From slide 66, the last slide in the chapter