Chapter 8 - Order Management and Customer Service Flashcards
What is Order cycle?
All activates that occur from when an order is received until the product is received. Important due to you want to minimize the waiting time the costumer has to wait for the product.
What is Replenishment cycle?
Refers to acquisition of additional inventory. One firm’s order cycle is another’s replenishment (påfyllning) cycle.
What are the E-commerce order fulfillment strategies?
Many firms use Internet technology to capture order information for fulfillment systems for picking, packing, and shipping.
Internet allows faster collection of cash by the seller
Downside with e-commerce, people expect really execution on the order, which puts pressure on the companies to deliver.
How is customer service defined?
- Three perspectives:
o Philosophy
o As a set of performance measures
o As an activity
What can be performance measures for customer service?
Stated from a customer’s perspective:
* order received on time
* order received complete
* order received damage free
What are some possible events when stockout occurs?
- the buyer waits until the product is available.
- the buyer back-orders the product.
- the seller loses current revenue.
- the seller loses a buyer and future revenue.
How can order management/order execution be described?
The interface between buyers and sellers in the market and directly influences customer service.
What is CRM?
Customer relationship management is a concept being used today by organizations to help them better understand their customer’s requirements and understand how these requirements integrate back into their international operations processes.
How is Purchasing defined?
The transactional function of buying products and services. In a business setting, this commonly involves the placement and processing of a purchase order.
