BUS 311 ch. 8

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  1. Supply Chain
    collection of companies and processes involved in moving a product from the suppliers of raw materials to the suppliers of intermediate components then to the customer
  2. supply network
    flow of materials from suppliers to customers
  3. EDI
    • Electronic Data Interchange
    • refers to computer-to-computer communication following certain standards
  4. Portals
    access points through which a business partner accesses secured, proprietary information.
  5. two types of portals
    suppliers and customers
    the purpose of supplier and customer portals is to enable interaction between a company and many customers and suppliers
  6. supplier portals
    • managed by a downstream company
    • single buyer to multiple suppliers
  7. Customer portals
    • managed by upstream company
    • single supplier to multiple buyers
  8. business to business marketplaces
    • operated by third party vendors 
    • generate revenue by taking a small commission for each transaction
    • allow many buyers and sellers to come together
  9. Vertical markets
    markets comprised of firms operating within a certain industry sector
  10. just-in-time strategies
    parts arrive right when they are needed
  11. Vendor managed inventory
    business model in which the suppliers manage the manufacturers inventory
  12. bullwhip effect
    small shift in demand for an end product can lead to tremendous fluctuations in demand for parts or raw materials
  13. information systems focus on improving supply chain have to main objectives
    • accelerate product development
    • reduce costs
  14. SCM
    • Supply Chain Management
    • improve the coordination of suppliers, product or service production, and distribution
  15. Supply Chain efficiency
    extent to which a company's supply chain is focusing on minimizing procurement, production, and transportation costs, sometimes sacrificing customer service
  16. Supply chain effectiveness
    focuses on maximizing customer service
  17. SCP
    • Supply Chain Planning
    • develop resource plans to support efficiency and effectiveness of production of goods
    • demand planning and forecasting
    • distribution planning
    • production scheduling
    • inventory and safety stock planning
  18. Demand Planning and Forecasting (SCP)
    • This is where SCP begins
    • examine historical data to develop accurate forecasts
  19. Distribution Planning (SCP)
    moving products to distributors
  20. Production Scheduling (SCP)
    focuses on coordination of all activities needed to create product
  21. Inventory planning (SCP)
    focuses on development of inventory estimates
  22. SCE
    Execution of SCP
  23. Production flow
    movement of goods from the suppliers to production to distribution to consumer
  24. RFID
    • radio Frequency Identification 
    • replace bar codes
  25. information flow
    movement of info along the supply chain.
  26. XML
    • Extensible Markup Language
    • standard for exchanging structured information over the web
  27. Extensible Business Reporting Language
    XML based specification for publishing financial information
  28. financial flow
    movement of financial assets throughout the supply chain
  29. Supply Chain Visibility
    ability to track products and even foresee external events
  30. Supply Chain Analytics
    use of key performance indicators to monitor performance of entire supply chain.
  31. three main objectives of CRM
    • attract potential customers
    • create customer loyalty
    • portray positive corporate image
  32. Benefits of CRM system
    • 24/7 operation
    • individualized service
    • improved information and problem identification
    • optimized processes
    • improved integration product development and planning
  33. CRM strategy requires changes to
    • policies and business processes
    • customer service
    • Employee training
    • Data collection, analysis, and sharing
  34. comprehensive CRM system comprises three primary components
    • Operational CRM
    • Analytical 
    • Collaborative
  35. Operational CRM
    • includes the system used to enable customer interaction
    • Sales force automation
    • customer service and support
    • Enterprise Marketing management
  36. sales force automation
    support day to day sales activities.
  37. customer service and support
    modules that automate service requests, complaints, product returns, and info
  38. Enterprise marketing management
    help a company in the execution of the CRM strategy by improving the management of promotional campaigns.
  39. digital dashboards help to visualize key CRM performance metrics
  40. Collaborative CRM
    • systems for providing effective and efficient communication with the customer form the entire organization. 
    • greater customer focus
    • lower communication barriers
    • increased information integration
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BUS 311 ch. 8
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