Chapter 11 - CRM and SCM Flashcards
What is CRM?
Customer Relationship Management - A customer focused organizational strategy
What is Customer Churn?
Over time an organization loses a percentage of customers
What are Customer Touch Points?
Any interactions between customers and organizations
What is a Collaborative CRM System?
Communications between customers and an organization are integrated across all systems
What is Customer Identity Management?
A marketing technology intended to complete a 360 view of a customer across an organization
What are Customer Facing CRM Applications?
Areas in which customers directly interact with an organization (ex. customer service)
What is a Purchasing Profile?
A snapshot of a customers buying habits that may lead to additional sales through cross-selling, upselling, and bundling
What are Customer Touching CRM Applications?
Applications and technologies with which customers interact and typically help themselves
What is a Analytical CRM System?
Analyzes customer behaviour and perceptions in order to provide actionable business intelligence
What is a Supply Chain?
The flow of materials, information, money, and services from raw material suppliers, through factories and warehouses, to the end customer
What are the three components of a generic supply chain?
Upstream: Sourcing from external suppliers
Internal: Packaging, assembly, and manufacturing
Downstream: Distribution
What are the Tiers of Suppliers?
The higher number of a supplier tier the more basic the components become
ex.
Tier 1 - A car dashboard
Tier 2 - The glass covering
Tier 3 - Glass
What is SCM?
Supply Chain Management - The process of planning, organizing, and optimizing various activities performed along the supply chain
What are the basic components of SCM?
Plan: Developing a set of metrics to monitor the supply chain
Source: Choosing suppliers to create a product
Make: Scheduling the necessary activities for delivery
Deliver: Providing customers with their information (i.e. a receipt) and transporting products to the customers
Return: A network for receiving returned product from customers
What is the difference between a Push Model and a Pull Model?
Push model: A forecast, which predicts the quantity of products a customer wants
Pull model: A company makes only what the customer wants (ex. print on demand)
