SOLVED

61) Traditionally, companies are organized around four distinct functional areas, namely, marketing and sales, supply chain management, accounting and finance, and information systems management. 62) The core business processes common to most business organizations are order-to-cash, procure-to-pay, and make-to-stock. 63) The order-to-cash process entails subprocesses such as price and terms negotiations, issuing of the purchase order, receiving the goods, and receiving and paying the invoice. 64) The processes associated with procuring goods from external vendors are together referred to as the procure-to-pay process. 65) In the make-to-stock process, raw materials, subcomponents, and accessories are procured based on forecasts, but actual manufacturing does not start until sales orders are received. 66) The make-to-order process uses the pull-based approach. 67) Systems that focus on the specific needs of individual departments are typically not designed to communicate with other systems in the organization and are therefore referred to as stand-alone applications. 68) A legacy system is an integrated suite of business applications for virtually every department, process, and industry, allowing companies to integrate information across operations on a company-wide basis using one large database. 69) Rather than storing information in separate places throughout the organization, enterprise systems provide a central repository common to all corporate users. 70) Internally focused systems coordinate business processes with customers, suppliers, and business partners.