ISM Final – Flashcards
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Supply Chain Management
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Involves the management of information flows between and among stage in a supply chain to maximize total supply chain effectiveness and profitability
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Supply Chain Management
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1. Plan 2. Source 3. Make 4. Deliver 5 Return Are the 5 basic components of:
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Supply Chain Visibility
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Primarily to be able to react quickly to changes in demand in the marketplace. -the ability to view all areas up and down the supply chain Are the benefits to:
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Disintermediation
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(Aka removing steps) "eliminate the middle man"
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ERP
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Primarily INTRA-organizational (used within a single organization).
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SCM
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Primarily largely INTER-organizational (used across organizations).
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Decisions
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- Production - Inventory - Transportation Are the supply chain _________.
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Logistics
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A set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to the customers. -product delivery
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Inventory Management and Control Software
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Provides control and visibility to the status of individual items maintained in inventory.
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Cycle Inventory
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The average amount of inventory held to satisfy customer demands between inventory deliveries.
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Safety Inventory
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Extra inventory held in the event demand exceeds supply.
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-Upstream -Downstream
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Links in the supply chain where materials flow from supplier and their "_______" suppliers at all levels & Distribution of products to customers and their "_______" customers at all levels.
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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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Supply Chain Execution Software
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Automates the various steps and stages of the supply chain system
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Demand Planning Software
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Generates demand forecasts using statistical tools and forecasting techniques
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D. All of the above
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Today, SCM systems focus on extending beyond an organization's four walls to influence: A. Suppliers B. Suppliers' supplier C. Customers' customer D. All of the above
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C. Cost
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Which of the following is not one of the five basic components of supply chain management? A. Plan B. Source C. Cost D. Deliver
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D. Scalability
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Which of the following is not one of the four changes resulting from advances in technology that are driving supply chains? A. Competition B. Consumer behavior C. Visibility D. Scalability
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A. Be future oriented
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Which of the following is a key to SCM success? A. Be future oriented B. Listen to signals from telecommunications equipment and plan accordingly C. Wean suppliers off traditional business practices D. Make the sale to the manufacturers
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B. Cost control
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Which of the following is a top reason why executives use SCM to manage extended enterprises? A. Increase costs B. Cost control C. Productivity reduction D. Process cycle time increments
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Customer Relationship Management
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Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
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Customer Relationship Management
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1.Reporting 2. Analyzing 3. Predicting Are the 3 Phases of:
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Reporting
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Component of CRM that helps organizations identify their customers across other apps.
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Analyzing
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Componenet of CRM that help organizations segment their customers into categories such as best and worst customers
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Predicting
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Component of CRM that 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 transactions processing for day-to-day front office operations or systems that deal directly with the customers
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List Generator
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Marketing Operational CRM Technology that compiles customer information from a variety of sources and segment the information for different marketing campaigns
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Campaign Management System
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Marketing Operational CRM Technology that guides users through marketing campaigns
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Cross - Selling
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Marketing Operational CRM Technology that involves Selling additional products or services to existing customers
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Up - Selling
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Marketing Operational CRM Technology that involves increasing the value of the sale
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Analytical CRM
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Supports back-office operations and strategic analysis and ncludes all systems that do not deal directly with the customers
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Predictive Dialing
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Features included in contact centers that automatically dials outbound calls and when someone answers, the call is forwarded to an available agent
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Sales Force Automation
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A system that automatically tracks all of the steps in the sales process
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Sales Management CRM System
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Operational CRM technology that automates 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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Operational CRM technology that maintains customer contact information and identifies prospective customers for future sales
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Opportunity Management CRM system
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Operational CRM technology that targets sales opportunities by finding new customers or companies for future sales
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Customer Service Technologies
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- Contact center (call center) - Web-based self-service system (click-to-talk) - Call scripting system
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Automatic Call Distribution
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Features included in contact centers where a phone switch routes inbound calls to agents.
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Interactive Voice Response
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Features included in contact centers that directs customers to use touch-tone phone or keywords to navigate or provide information
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Personalization
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When a web site knows enough about a person's like and dislikes that it can fashion offers that are more likely to appeal to that person
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D. All of the above
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Which of the following represents operational CRM? A. Supports traditional transactional processing B. Supports day-to-day front-office operations C. Supports operations that deal directly with the customers D. All of the above
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E-Business
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The conducting of business on the internet including, not only buying and selling, but also serving customers and collaborating with business partners
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C. RFM - recency, frequency, monetary value
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What is the formula that an organization can use to find its most valuable customers? A. RFM - reporting, features, monetary value B. RFM - reporting, frequency, market share C. RFM - recency, frequency, monetary value D. RFM - recency, features, market share
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C. Accountability
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Which of the following is not one of the CRM business drivers? A. Inventory control B. Increase revenues C. Accountability D. Automation/productivity/efficiency
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D. All of the above
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What can analytical CRM modeling tools discover? A. Identify opportunities for expanding customer relationships B. Identify opportunities for cross-selling C. Identify opportunities for up-selling D. All of the above
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D. Implement in the big bang approach
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Which of the following is not a CRM industry best practice? A. Define information needs and flows B. Build an integrated view of the customer C. Scalability for organizational growth D. Implement in the big bang approach
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B. Customer segmentation
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What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers? A. Customer identification B. Customer segmentation C. Customer predicting D. All of the above
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Disruptive Technology
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A new way of doing things that initially does not meet the needs of existing customers
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Sustaining Technology
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Produces an improved product customers are eager to buy
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ARPAnet
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The Internet began as an emergency military communications system operated by the Department of Defense known as:
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Application Service Provider (ASP)
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Offers access over the internet to systems and related services that would otherwise have to be located in organizational computers
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Internet's Impact on Information
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- Easy to compile - Increased richness - Increased reach - Improved content represent the:
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E-Business
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-Highly accessible - Increase customer loyalty - Improved Information content - Increased convenience - Increased global reach, - Decreased cost Are Reasons for the recent emergence of:
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Digital Divide
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When those with access to technology have great advantages over those without access to technology
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Market Intermediaries
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Agents, software, or businesses that bring buyers and sellers together that provide a trading infrastructure to enhance e-business
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Re-Intermediation
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Using the internet to reassemble buyers, sellers, and other partners in a traditional supply chain in new ways
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Wireless Internet Service Provider (WISP)
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Provides individuals and other companies access to the internet
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WiFi
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A wireless local area network that uses radio signals
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Web 2.0
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A set of economic, social and technology trends that collectively form the basis for the next generation of the internet
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Pure Play
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Business with no physical stores, only on the internet
