FBLA (B) Flashcards
Explain customer relationship management.
Strategies and technologies used to manage and improve interactions with customers, aiming to enhance customer retention and sales.
Define analytics
The process of analyzing data to identify patterns, trends, and insights to aid in decision-making.
Describe the role of forecasting.
Predicting future trends and demands using historical data to guide business decisions.
Explain the growth of global distribution.
The expansion of distributing goods and services internationally, driven by globalization, technology, and trade.
Explain supply chain management for healthcare industry.
Managing the flow of medical products to ensure timely, safe, and cost-effective delivery in healthcare.
Explain the logistics of inventory management.
Controlling the ordering, storage, and use of inventory to maintain the right stock levels efficiently.
Define procurement.
The process of acquiring goods or services from external suppliers at the best price and quality.
Describe sales and operations planning.
Coordinating sales and production plans to balance supply and demand for optimal resource use.
Define supply market intelligence.
Gathering and analyzing market information to inform sourcing and procurement decisions.
Define sustainability for supply chain management.
Incorporating environmental and social responsibility into supply chain operations.
Explain the relationship between supply chain management and transportation
planning.
Ensuring efficient movement of goods within the supply chain through effective transportation planning.
Describe careers associated with supply chain management.
Roles include supply chain analyst, logistics manager, procurement manager, focusing on optimizing the flow of goods from suppliers to customers.
