Chapter 1

Front 1

Asset management and customer service process

Back 1

Preventative and corrective maintenance of an organizations equipment. Used to maintain internal assets such as machinery and delivery

Front 2

Business process

Back 2

Set of tasks or activities that produce desired outcomes. Often interdependent steps completed in different parts of the organization

Front 3

Controlling

Back 3

Same thing as management accounting

Front 4

Enterprise systems

Back 4

Support end to end processes. Remove Barriers to sharing information between functional areas and managing processes holistically

Front 5

Financial accounting processes(FI)

Back 5

Tracking the financial impact of processes with the primary goal of meeting legal and regulatory reporting requirements

Front 6

Fulfillment process

Back 6

Efficiently processing customer orders

Front 7

Functional structure

Back 7

Most common organizational structure. Usually divided into functions or departments

Front 8

Human capital management process

Back 8

Numerous processes related to all aspects of managing and developing the people in the Organization

Front 9

Inventory and warehouse management process IWM

Back 9

Is used to store and track the materials

Front 10

Management accounting or controlling process( CO)

Back 10

Tracking costs and having it for internal reporting that is intended to help control costs and revenues and assess the profitability of various products and market segments a.k.a. controlling

Front 11

Material

Back 11

Encompasses all products, components, parts, and so on

Front 12

Material planning process

Back 12

uses historical data and sales forecast to plan which material will be procured and produced in what quantities

Front 13

Procurement process

Back 13

Acquiring needed Materials externally

Front 14

Production process

Back 14

Actual creation of products within an organization

Front 15

Project

Back 15

Temporary nature and typically associated with large complex activities such as construction of a factory

Front 16

Project management process

Back 16

used to plan and execute large projects such as the construction and a new factory or the production of complex products like airplanes

Front 17

Silo effect

Back 17

Workers complete their tasks and functional silos without regard to the consequences for other components of the process

Front 18

Integration

Back 18

And human capital management aspect that involves people participating in different functional areas

Front 19

Four key processes of financial accounting

Back 19

General ledger, accounts receivable, accounts payable, asset accounting