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)
What is the Bullwhip Effect?
Erratic shifts in orders up and down the supply chain
What is EDI?
Electronic Data Interchange - A communication standard that enables business partners to exchange routine documents, such as purchasing orders, electronically
