INMT 341 Study Guide - Final Guide: Electronic Data Interchange, Sales Order, Item Number
Document Summary
Primary objective of the revenue cycle: provide right product in right place at the right time for right price. 4 basic business activities in revenue (order to cash) cycle: ais should maximize efficiency with which each of these is performed: sales order entry (contains item numbers, quantities, prices, terms of sale) Term: choiceboard: allows customers to customize products to meet needs. Checking and approving customer credit from the customer data store! Must approve before checking inventory so that we don"t waste time checking for goods without an actual order. If don"t approve then need to call customer. Ask them to pre-pay or reduce current balance. Term: credit limit: maximum allowable account balance we have a backorder. Checking inventory availability: if don"t have enough then notify customer and tell them customer data store. Update sales order data store, inventory data store (reserve inventory) and.