CH 11 Flashcards
What is a supply chain?
An integrated network consisting of an organization, its suppliers, transportation companies, and brokers used to deliver goods and services to customers.
What are 4 key decisions in SCM related to manufacturing?
- Location: Where should manufacturing facilities be placed?
- Inventory: When should an order be placed? How much should be ordered?
- Production: What should be produced? How much should be produced?
- Transportation: Which transportation systems will reduce costs and expedite the delivery process?
Define collaborative planning, forecasting, and replenishment (CPFR)?
Used to coordinate supply chain members through point-of-sale (POS) data sharing and joint planning. In other words, any data collected with POS systems is shared with all members of the supply chain, which is useful in coordinating production and planning for inventory needs. The goal is to improve operational efficiency and manage inventory.
What is the role of 3D printing in SCM?
- Manufacturing lead times will be significantly reduced, from weeks to days, to hours, and minutes.
- Customers demand will be met more quickly and more specifically.
- Manufacturers will print-on-demand, eliminating the need to carry inventory.
- New designs will come to market much quicker.
- Materials will be used more efficiently, as leftovers can be used for other projects
What are 3 examples of activities or tasks that an organization can perform with a CRM (Customer Relationship Management)?
- Provide services and products that meet customers’ needs.
- Offer better customer service through multiple channels (traditional as well as the Internet).
- Increase cross-selling and upselling of products to increase revenue from existing customers.
- Help sales personnel close deals faster by offering data on customers’ backgrounds.
- Retain existing customers and attract new ones
What is collaborative filtering (CF)?
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.
What is knowledge management (KM)?
A technique used to improve CRM systems (and many other systems) by identifying, storing, and disseminating “know-how”—facts about how to perform tasks.
What are 4 benefits or advantages of an ERP system?
- Increased availability and timeliness of integrated information
- Increased data accuracy and improved response time
- Improved customer satisfaction
- Improved employee satisfaction
