BUS 311 CHAPTER 8 – Flashcards
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term commonly used to refer to a collective of companies and processes involved in moving a product from the suppliers of raw materials to the customers
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supply chain
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Just-in-time strategies
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companies using the strategy are trying to optimize their ordering quantities such that parts or raw material arrive just when they are needed for production
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A business model in which the suppliers to a manufacturer manage the manufacturer's inventory levels based on preestablished service levels
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Vendor-managed inventory
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Vendor - management inventory (VMI)
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to make VMI possible, the manufacturer allows the supplier to monitor stock levels and ongoing sales data
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one major problem affecting supply chains are ripple effects referred to as
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Bullwhip effect
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Computer maker, Dell, realized the problems with keeping large inventories, especially bc of the fast rate of obsolescence of electronics components. Dell now keeps only about two hours of inventory in its factories. the company is most likely using a
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just-in-time inventory management system
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MaxSteel inc. has been supplying steel to a well known car manufacturer, Agis Corp., for the past 3 years. concerned employees at MaxSteel blah blah blah
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Agis Corp. is taking measures to ensure that the information shared with MaxSteel will not be shared outside their organization
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Fen-phen was an anti-obsity medicantion that consisted of two drugs: fenfluramine and phentarmine.... blah blah blah
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a product recall
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La Belle Inc. introduced a new line of accessories for teenaged girls last season.. following its immense popularity with the targeted group, the company anticipated high sales this season... blah blah blah
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the bullwhip effect
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main objective information systems that focus on improving supply chains
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accelerating product development and innovation
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key use of the distribution planning module of supply chain management
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to optimize the allocation of available supply to meet demand
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the key use of the order promising module of supply chain management is to
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provide answers to customer relationship management queries regarding product availability, costs, and delivery times
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The key use of the manufacturing execution module of supply chain management is to
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support production processes taking into account capacity and material constraints
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Involves the development of various resource plans to support the efficient and effective production of goods and services
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supply chain planning
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Supply chain planning begins with
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product demand planning and forecasting
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demand planning and forecasting leads to the development of the overall
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demand forecast
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Focuses on delivering products or services to consumers as well as warehousing, delivering, invoicing, and payment collection
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distribution planning
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Distribution planning leads to the development of the overall
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transportation schedule
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Production scheduling
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focuses on the coordination of all activities needed to create the product or service
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Using analytical tools to optimally utilize labor, materials, and equipment is a part of the ______ step of supply chain planning
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production scheduling
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Inventory and safety stock planning
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leads to the development of a sourcing plan.
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Inventory and safety stock planning leads to the development of
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Sourcing plan
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Supply chain execution
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involves the management of information flow
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PRODUCT FLOW, a key element of supply chain execution
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It refers to the movement of goods from the supplier to production, from production to distribution, and from distribution to the consumer.
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INFORMATION FLOW, a key element of supply chain execution
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the key element to the information flow is the complete removal of paper documents
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Key element of a supply chain execution includes information related to payment schedules, consignment, and ownership or products and materials
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financial flow
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Refers not only to the ability to track products as they move through the supply chain but also to foresee external events
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supply chain visibility
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Refers to the use of key performance indicators to monitor performance of the entire supply chain, including sourcing, planning, production, and distribution
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supply chain analytics
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a company's supply chain is focusing on minimizing procurement, production, and transportation costs, sometimes by sacrificing excellent customer service.
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supply chain efficiency
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a company's supply chain is focusing on maximizing customer service with lesser focus on procurement, production, and transportation costs.
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Supply chain effectiveness
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example of supply chain efficiency
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Apple sources its raw materials in ways that keep its costs low
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a data presentation standard first specified by the World Wide Web Consortium, an international consortium... blah blah blah
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Extensible Markup Language
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Allows designers of Web documents to create their own customized tags, enabling the definition, transmission, validation, and interpretation of data between applications and between organizations
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Extensible Markup Language
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True about XML
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XML instructs systems as to how information should be interpreted and used
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An XML-based specification for publishing financial information
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Extensible Business Reporting Language
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Includes tags for data such as annual and quarterly reports, Securities and Exchange commission filings, general ledger information, and net revenue and accounting schedules
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Extensible Business Reporting Language
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Lee's department store uses the every day low prices strategy....blah blah blah
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supply chain efficiency
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COMPTEL, a world leader in computer hardware, differentiates itself from its competitors by providing excellent ... BLAH BLAH
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supply chain effectiveness
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The use of electromagnetic energy to transmit information between a reader (transceiver) and a processing device
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Radio frequency identification
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Can be used just about anywhere a unique identification system might be needed, such as on clothing, pets, cars, keys, missiles. ....
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RFID tags
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True about RFID systems
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RFID scanning can be done at greater distances than bar code scanning
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True about RFID passive tag
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they are small and relatively inexpensive
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True about RFID active tag
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They include a battery
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Portrays the improved product development benefit of a CRM system
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tracking customer behavior over time that helps to identify future opportunities for product and service offerings
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Focuses on studying customer behavior and perceptions in order to provide the business intelligence necessary to identify new opportunity and to provide superior customer services
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Analytical CRM
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Includes the systems used to enable customer interaction and service
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Operational CRM
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Portrays the individualized service benefit of a CRM system
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Learning how each customer defines products and service quality so that customized product, pricing, and services can designed or developed collaboratively.
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refers to using multiple communicaiton channels to support the communication preferences of users, such as the Web, the company's Facebook page, industry blogs, telephone....
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Customer interaction center
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Business processes can be enhanced by the analytical CRM system
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price, quality, and satisfaction analysis of competitiors
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refers to systemst that automate requests, complaints, products returns, and information requests
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Customer service and support
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refers to systems for providing effective and efficient communication with the customer from the entire organizations
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collaborative CRM
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tools help a company in the execution of the CRM strategy by improving the management of promotional campigns
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Enterprise marketing management
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facilitate the sharing of information across the various departments of an organization in order to increase customer satisfaction and loyalty
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Collaborative CRM systems
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Example portrays the 24/7/365 operation of a CRM system
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web-based interfaces that provide product information, sales status, support information, issue tracking, and so on
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main objective of customer relationship management applications focusing on downstream information flows
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to portray a positive corporate image
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a component of the analytic CRM system
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data mining and visualiztion
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a component of the operational CRM system
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sales force automation
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Organization that effectively utilize ______ can more easily customize marketing campaigns from the segment level to even the individual customer
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analytical CRM
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component of the collaborative CRM system
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technologies to facilitate communicaiton
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explains the improved planning benefit of using a CRM system
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providing mechanism for managing and scheduling sales follow-ups t assess satisfactions..... blah blah
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is the first component of an operational customer relationship amangement that suports a broad range of businesses blah blah
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sales force automation
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help crate the mass e-mail marketing campaigns each customer receives an individualized e-mail based on prior purchase history
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operational CRM system
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main objective of customer relationship management applications focusing on downstream information flow
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to portray a positive corporate image
