BIS – Flashcard
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Production
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The creation of goods and services using the factors of production (land, labor, capital, entrepreneurship, and knowledge).
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Production Management
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All the activities managers do to help companies create goods.
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Operations Management (OM)
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The management systems or processes that convert or transform resources into goods or services.
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Transformation Process
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often referred to as the technical core, especially in manufacturing organizations, and is the actual conversion of inputs to outputs.
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Value-added
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Describes the difference between the cost of inputs and the value of price of outputs.
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Strategic Business Units (SBUs)
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consists of several stand-alone businesses.
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Strategic Planning
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Focuses on long range planning such as plant size, location, etc.
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Materials Requirement Planning (MPR) Systems
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Use sale forecasts to make sure that needed parts and materials are available at the right time and place in a specific company.
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Tactical Planning
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Focuses on producing goods and services as efficiently as possible within a strategic plan.
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Global Inventory Management Systems
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Provide the ability to locate, track, and predict the movement of every component or material anywhere.
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Operational Planning and Control (OP&C)
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Deals with the day-to-day procedures for performing work, including scheduling, inventory, and process management.
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Inventory Management and Control Systems
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Provide control and visibility to the status of individual items maintained in inventory.
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Transportation Planning Systems
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Track and analyze the movement of materials and products to ensure the delivery of materials and finished goods at the right time, right place, and the lowest cost.
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Distribution Management Systems
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Coordinate the process of transporting materials from a manufacturer to distribution centers to the final customer.
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Competitive OM strategy
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1.Cost 2.Quality 3.Delivery 4.Flexibility 5.Service
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Supply Chain
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Consists of all parties involved, directly or indirectly, in the procurement of a product or raw material.
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Supply Chain Management (SCM)
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Involves the management of information flows between and among the stages in a supply chain to maximize total supply chain effectiveness and profitability.
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—Effective and Efficient SCM systems can enable an organization to-
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-Decrease the power of its buyers/Increase its own supplier power/Increase switching costs to reduce the threat of substitute products or services/Create entry barriers/Increase efficiencies while seeking a competitive advantage through cost leadership-
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Supply Chain Visibility
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The ability to view all areas up and down the supply chain.
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Bullwhip Effect
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Occurs when distorted product demand information passes from one entity to the next throughout the supply chain.
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Demand Planning Systems
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Generate demand forecasts using statistical tools and forecasting techniques.
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Supply Chain Planning (SPC) Systems
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Use advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory.
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Supply Chain Execution (SCE) Systems
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Automate the different steps and stages of the supply chain.
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Customer Relationship Management (CRM)
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Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention.
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CRM Reporting Technology
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Helps the organizations identify their customers across applications
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CRM Analysis Technology
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Helps organizations segment their customers into categories such as best and worse customers
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CRM Predicting Technology
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Helps organizations make predictions regarding customer behavior, such as which customers are at risk of leaving.
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Operational CRM
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Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customer.
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Analytical CRM
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Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers.
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List Generators
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Compile customer information from a variety of sources and segment the information for different marketing campaigns.
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Campaign Management Systems
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Guides users through marketing campaigns performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis.
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Cross-selling
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Selling additional products or services to customers
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Up-selling
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Increasing the value of the sale.
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Sales Force Automation (SFA)
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A system that automatically tracks all of the steps in the sales process.
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Sales Management CRM Systems
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Automate each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts.
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Contact Management CRM System
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Maintains customer contact information and identifies prospective customers for future sales.
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Opportunity Management CRM Systems
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Target sales opportunities by finding new customers or companies for future sales.
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Web-based Self-service Systems
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Allows customers to use the web to find answers to their questions or solutions to their problems.
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Click-to-talk
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Allows customers to click on a button and talk with a CSR via the internet.
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Call Scripting Systems
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Accesses organizational databases that track similar issues or questions and automatically with a comprehensive view of every customer, regardless of the pharmaceutical company.
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Personalization
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Occurs when a website can know enough about a person's likes and dislikes to fashion offers that are more likely to appeal to that person.
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Supplier Relationship Management (SRM)
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Focuses on keeping suppliers satisfied by evaluating and categorizes suppliers for different projects, which optimizes supplier selection.
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Partner Relationship Management (PRM)
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Focuses on keeping vendors satisfied by managing alliance partner and reseller relationships that provide customers with the optimal sales channel.
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Employee Relationship Management (ERM)
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Provides employees with a subset of CRM applications available through a web browser.
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Business Intelligence
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Refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts.
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Data Mining
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The process of analyzing data to extract information not offered by the raw data alone.
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Data Mining Tools
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Use a variety of techniques to find patterns and relationships in large volumes of information.
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Cluster Analysis
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Technique used to divide an information set into mutually exclusive groups such as that the members of each group close together as possible.
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Association Detection
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Reveals the degree to which variables are related and the nature and frequency of these relationships in the information.
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Market Basket Analysis
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Analyzes such items as websites and checkout scanner information to detect customers' buying behavior.
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Statistical Analysis
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Performs such functions as information correlations, distributions, calculations, and variance analysis.
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Enterprise Resource Planning (ERP)
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Integrates all departments and functions throughout an organization into a single IT system.
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Core ERP Components
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The traditional components included in most ERP systems, and they primarily focus on internal operations.
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Extended ERP Components
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Extra components that meet the organizational needs not covered by the core components and primarily focus on external operations.
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Accounting and Finance ERP Components
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Manage accounting data and financial processes within the enterprise.
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Production and Materials Management ERP Components
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Handle the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control.
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Human Resources ERP Components
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Tracks employee information including payroll, benefits, compensation, and performance assessment.
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Ebusiness
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Conducting business on the internet, not only buying and selling, but also serving customers and collaborating with business partners.
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Elogistics
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Manage the transportation and storage of goods.
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Eprocurement
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Is the B2B purchase and sale of supplies and service over the internet.
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Enterprise Application Integration (EAI) Middleware
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Represents a new approach to middleware by packaging together commonly used functionality.
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Core Competency
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A business function that it does better than any of its competitors.
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Core Competency Strategy
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When a company finds out what they do best, and then forms partnerships and alliances with other specialist organizations to handle non strategic business processes.
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Collaboration System
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An IT based set of tools that supports the work of teams by facilitating the sharing and flow of information.
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Knowledge Management (KM)
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Involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions.
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Knowledge Management System (KMS)
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Supports the capturing, organization, and dissemination of knowledge, throughout an organization.
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Explicit Knowledge
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Consists of anything that can be documented, archived, and codified, often with the help of IT.
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Tacit Knowledge
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The knowledge contained in people's heads.
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Content Management System
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Provides tools to manage the creation, storage editing, and publication of information in a collaborative environment.
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Workflow Management Systems
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Facilitate the automation and management of business processes and control the movement of work through the business process.
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Messaging-based Workflow Systems
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Sends work assignments through an email system.
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Database-based Workflow Systems
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Store documents in a central location and automatically ask the team members to access the document when it is their turn to edit the document.
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Systems Development Life Cycle (SDLC)
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Overall process for developing information systems from planning and analysis through implementation and maintenance.
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Methodology
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A set of policies, procedures, standards, processes, practices, tools, techniques, and tasks that people apply to technical and management challenges.
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Waterfall Methodology
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Activity based process in which each phase in the SDLC is performed sequentially from planning through implementation and maintenance.
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Iterative Development
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Consists of a series of tiny projects.
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Agile Methodology
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Aims for customer satisfaction through early and continuous delivery of useful software components developed by an iterative process with a design point that uses bare minimum requirements.
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Rapid Application Development (RAD) Methodology
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Emphasizes extensive user involvement in the rapid evolutionary construction of working prototypes of a system to accelerate the systems development process.
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Extreme Programming (XP) Methodology
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Breaks a project into tiny phases, and developers cannot continue on to the next phase until the first phase is complete.
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Rational Unified Process (RUP) Methodology
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Provides a framework for breaking down the development of software into four gates.
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Scrum Methodology
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Uses small teams to produce small pieces of deliverable software using sprints, to achieve an appointed goal.
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Change Management System
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Includes a collection of procedures to document a change request and define the steps necessary to consider the change based on the expected impact of the change.
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Change Control Board (CCB)
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Responsible for approving or rejecting all change requests.
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Radio Frequency Identification (RFID)
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Technology using active and passive tags in the form of chips that can store unique identifier's that can be relayed to electronic readers
