Questions on the use of ERP in a business. Management Coursework (Coursework Sample)
The task was to do a course work questions on the use of ERP, blockchain, and xml or edl. These methods were to help the business ensure collection of payments from customers and support revenue cycle.source..
What controls would you implement in your company to ensure the collection of payments from your customers?
The company has strategized the implementation of blockchain technologies with embedded ERP in their production, manufacturing, sales, and financial systems. By using Blockchain and ERP, the products of the company will be traced from the point of manufacturing to the end-user location through the cooperation of the third party customers and the maintenance of proper accounting records. This technology requires giving products bar codes. The bar codes will contain the information on the products like the manufacturer date, expiration date, product name, and producer name, the ingredients, and the cost of the item or the individual products of the cost of the entire dozen containing the products.
Through the scanning of the bar code, the parties on the blockchain can see and record the last day of purchase of a specific product, the date of delivery to the warehouse, shop, or restaurant.
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