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jo73
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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
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supply network
flow of materials from suppliers to customers
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EDI
- Electronic Data Interchange
- refers to computer-to-computer communication following certain standards
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Portals
access points through which a business partner accesses secured, proprietary information.
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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
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supplier portals
- managed by a downstream company
- single buyer to multiple suppliers
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Customer portals
- managed by upstream company
- single supplier to multiple buyers
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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
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Vertical markets
markets comprised of firms operating within a certain industry sector
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just-in-time strategies
parts arrive right when they are needed
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Vendor managed inventory
business model in which the suppliers manage the manufacturers inventory
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bullwhip effect
small shift in demand for an end product can lead to tremendous fluctuations in demand for parts or raw materials
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information systems focus on improving supply chain have to main objectives
- accelerate product development
- reduce costs
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SCM
- Supply Chain Management
- improve the coordination of suppliers, product or service production, and distribution
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Supply Chain efficiency
extent to which a company's supply chain is focusing on minimizing procurement, production, and transportation costs, sometimes sacrificing customer service
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Supply chain effectiveness
focuses on maximizing customer service
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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
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Demand Planning and Forecasting (SCP)
- This is where SCP begins
- examine historical data to develop accurate forecasts
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Distribution Planning (SCP)
moving products to distributors
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Production Scheduling (SCP)
focuses on coordination of all activities needed to create product
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Inventory planning (SCP)
focuses on development of inventory estimates
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Production flow
movement of goods from the suppliers to production to distribution to consumer
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RFID
- radio Frequency Identification
- replace bar codes
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information flow
movement of info along the supply chain.
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XML
- Extensible Markup Language
- standard for exchanging structured information over the web
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Extensible Business Reporting Language
XML based specification for publishing financial information
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financial flow
movement of financial assets throughout the supply chain
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Supply Chain Visibility
ability to track products and even foresee external events
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Supply Chain Analytics
use of key performance indicators to monitor performance of entire supply chain.
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three main objectives of CRM
- attract potential customers
- create customer loyalty
- portray positive corporate image
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Benefits of CRM system
- 24/7 operation
- individualized service
- improved information and problem identification
- optimized processes
- improved integration product development and planning
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CRM strategy requires changes to
- policies and business processes
- customer service
- Employee training
- Data collection, analysis, and sharing
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comprehensive CRM system comprises three primary components
- Operational CRM
- Analytical
- Collaborative
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Operational CRM
- includes the system used to enable customer interaction
- Sales force automation
- customer service and support
- Enterprise Marketing management
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sales force automation
support day to day sales activities.
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customer service and support
modules that automate service requests, complaints, product returns, and info
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Enterprise marketing management
help a company in the execution of the CRM strategy by improving the management of promotional campaigns.
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digital dashboards help to visualize key CRM performance metrics
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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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