Chapter 11 Customer Relationship Management and SCM (Final Exam) – Flashcards
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analytical CRM system
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CRM system that analyzes customer behavior and perceptions in order to provide actionable business intelligence
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bullwhip effect
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erratic shifts in orders up and down the supply chain
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bundling
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a form of cross selling where an enterprise sells a group of products or services together at a lower price than the combined individual price of the products
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campaign management applications
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CRM applications that help organizations plan marketing campaigns that send the help organizations plan marketing campaigns that send the right messages to the right people through the right channels
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collaborative CRM system
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a CRM system where communications between the organization and its customers are integrated across all aspects of marketing, sales, and customer support processes
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cross selling
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the practice of marketing additional related products to customers based on a previous purchase
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customer-facing CRM applications
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areas where customers directly interact with the organization, including customer service and support, sales force automation, marketing, and campaign management
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customer interaction center (CIC)
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A CRM operation where organizational representatives use mulitple communication channels to interact with customers in functions such as inbound teleservice and outbound telesales
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customer relationship management (CRM)
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a customer focused and customer-driven organizational strategy that concentrates on addressing customers' requirements for products and services, and then providing high-quality, responsive service
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customer-touching CRM applications (also called e-CRM)
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applications and technologies with which customers interact and typically help themselves
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customer touch point
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any interaction between a customer and an organization
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distribution portals
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corporate portals that automate the business processes involved in selling or distributing products from a single supplier to multiple buyers
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electronic data exchange (EDI)
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a communication standard that enables the electronic transfer of routine documents between business partners
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extranets
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networks that link business partners over the internet by providing them access to certain areas of each other's corporate intranets
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front-office processes
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those processes that directly interact with customers; that is, sales, marketing and service
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interorganizational information system (IOS)
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an information system that supports information flow among two or more organizations
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inventory velocity
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the speed at which a company can deliver products and services after receiving the materials required to make them
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just-in-time (JIT) inventory system
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a system in which a supplier delivers the precise number of parts to be assembled into a finished product at precisely the right time
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loyalty program
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programs that offer rewards to customers to influence future behavior
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mobile CRM system
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an interactive CRM system where communications related to sales, marketing, and customer service activities are conducted through a mobile medium for the purpose of building and maintaining customer relationships between an organization and its customers
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on-demand CRM system
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a CRM system that is hosted by an external vendor in the vendor's data center
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open-source CRM system
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CRM software whose source code is available to developers and users
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operational CRM system
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the component of CRM that supports the front-office business process that directly interact with customers
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procurement portals
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corporate portals that automate the business processes involved in purchasing or procuring products between a single buyer and multiple suppliers
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pull model
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a business model in which the production process begins with a customer order and companies make only what customers want, a process closely aligned with mass customization
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push model
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a business model in which the production process beings with a forecast, which predicts the productions that customers will want as well as the quantity of each products
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sales force automation (SFA)
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the component of an operational CRM system that automatically records all the aspects in a sales transaction process
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supply chain
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the coordinated movement of resources from organizations through conversion to the end consumer
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supply chain management (SCM)
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an activity in which the leadership of an organization provides extensive oversight or the partnerships and processes that compose the supply chain and leverages these relationships to provide an operational advantage
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supply chain visibility
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the ability of all organizations in a supply chain to access or view relevant data on purchased materials as these materials move through their suppliers' production processes
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up selling
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a sales strategy where the organizational representative provides to customers the opportunity to purchase higher-value related products or services in place of, or along with the consumer's initial product or service selection
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vendor-managed inventory (VMI)
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an inventory strategy where the supplier monitors a vendor's inventory for a product or group of products and replenishes products when needed
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vertical integration
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strategy of integrating the upstream part of the supply chain with the internal part, typically by purchasing upstream suppliers, in order to ensure timely availability of supplies
