MGT Chapter 11 – Flashcards
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Enterprise System
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is an application used in all the functions of a business that supports decision making throughout the organization
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Supply Chain
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is an integrated network consisting of an organization, its suppliers, transportation companies, and brokers used to deliver goods and services to customers
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Supply Chain Management (SCM)
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is the process of working with suppliers and other partners in the supply chain to improve procedures for delivering products and services
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Electronic Data Interchange (EDI)
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enables business partners to send and receive information on business transactions
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E-Marketplace
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a third-party exchange (B2B model) that provides a platform for buyers and sellers to interact with each other and trade more efficiently online
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Online Auction
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this brings traditional auctions to customers around the globe and makes it possible to sell far more goods and services than at a traditional auction
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Reverse Auction
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this invites sellers to submit bids for products and services. There is one buyer, and many sellers. the buyer can choose the seller that offers the service or product at the lowest price
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Collaborative Planning, Forecasting, and Replenishment (CPFR)
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is used to coordinate supply chain members through point-of-sale (POS) data sharing and joint planning
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Customer Relationship Management (CRM)
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consists of the processes a company uses to track and organize its contacts with customers. It improves services offered to customers and uses customer contact information for targeted marketing
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Personalization
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is the process of satisfying customer relationships, and increasing profits by designing goods and services that meet customers preferences better, It involves not only customers requests, but also the interaction between customers and the company
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Customization
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allows customers to modify the standard offering such as selecting a different home page to be displayed each time you open your web browser
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Collaborative Filtering (CF)
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is a search for specific information or patterns, using input from multiple business partners and data sources. It identifies groups of people based on common interests and recommends products or services based on what members of the group purchased or did not purchase
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Knowledge Management (KM)
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draws on concepts of organizational learning, organizational culture, and best practices to convert tacit knowledge into explicit knowledge, create a knowledge-sharing culture in an organization, and eliminate obstacles to sharing knowledge
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Enterprise Resource Planning (ERP)
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is an integrated system that collects and processes data and manages and coordinates resources, information and functions throughout an organization
