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IDIS 344 > IDIS 344 Final > Flashcards

IDIS 344 Final Flashcards

1
Q

Purpose of Gettysburg class

A
  • To show how leadership and logistics lead to success both on the battlefield and in business
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2
Q

What traits does a leader use to exercise their influence?

A

Communication Skills
Decision making
Planning Skills
Personal responsibility
Motivation
Confidence
Vision

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3
Q

What does logistics in business refer to?

A

The movement of goods from Point A to Point B

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4
Q

What are the functions of logistics in business?

A

Transportation
Warehousing

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5
Q

What is logistics in the military

A

The transfer of personnel and material from one location to another

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6
Q

What makes a successful business plan?

A

Clear objectives
Good intelligence
Good leadership - top to bottom
Clear vision of success and way ahead
Logistics

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7
Q

Key leadership principles

A

Know yourself and seek self-improvement
Make sound decisions
Set the example
Know your people and look out for them
Keep your people informed
Ensure assigned tasks are understood, supervised, and accomplished
Train your people as a team

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8
Q

Union logistics comparison

A

“Three hots and a cot”
- Established supply chain
- Shorter distances to cover
- Enjoyed benefits of industrial infrastructure
- Interior lines

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9
Q

Confederate logistic comparison

A

“Scrounge around and sleep on the ground”
- No estb. supply chain
- Supply depot in Virginia
- Lack of industrial infrastructure placed heavy emphasis on importing supplies from overseas
- South’s breadbasket depleted due to fighting in virgina
- Foraging was part of overall mission

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10
Q

Day 2 of Gettysburg

A

Union wins through leadership and initiative.conf. fail to coordinate their attacks due to poor leadership

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11
Q

Battle of Gettysburg day 3

A

Union wins when confederate fail to coordinate attacks climaxing in failed grand assault of 11,000 troops resulting in over 6,000 casualties in less than an hour

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12
Q

General for union

A

George G Meade

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13
Q

General for Confederacy

A

Robert E Lee

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14
Q

Who won day 1 of battle

A

Confederate but union held high ground setting stage for day 2

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15
Q

Primary mission for Lees retreat from Gettysburg

A

Safetly return the army across the potomac river back to virgina

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16
Q

Secondary mission for lees retreat from gettysburg

A

Safely return wounded, prisoners, and foraged items back to Virgina

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17
Q

Challanges to Lees retreat

A
  • loss of key leaders in crucial time
  • Union Army was in pursuit
  • Roads, Terrain, and Weather
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18
Q

Results from Lees Retreat

A

-Successful Accomplishment of Both missions
- Army was still in bad shape
- War continued for almost two more years

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19
Q

Parallels of Gettysburg for future distributors

A
  • Ensure clear objectives, and subordinates understand the objectives
  • Even with a great plan, the enemy gets a vote also
  • Be clear in guidance/orders
  • Know environment/market
  • Maximize advantages while minimizing other guys
  • Its not the plan that ensures success, its the execution
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20
Q

Leaders in business often _______ to leaders in battle

A

face similar challanges

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21
Q

What are the consequences of leaders decisions

A

For battle they cost lives, in business it costs money

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22
Q

What can we learn from with leaders in history

A

We can learn from both the mistakes and successes

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23
Q

Purpose of marketing?

A

Understand your customer so well the product sells itself

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24
Q

7 P’s of Marketing

A

Product
Promotion
Price
Placement
People
Process
Physical evidence

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25
Q

What is marketing?

A

Activity and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

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26
Q

Marketing Purpose?

A

Generate revenue for a brand, company or organization though digital activities that drive traffic, qualified leads and sales in collaboration with the sales team

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27
Q

Marketing Focus (manufacture)

A

-Build product/brand awareness
- Build demand for the product/brand
- “Sell” the product/brand to build market

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28
Q

Marketing focus for Distributor

A
  • Distinguish yourself in the market
  • Focus on your value proposition
  • More emphasis on your Brand versus your Products
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29
Q

Five S’s

A

Source
Stock
Store
Sell
Ship

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30
Q

ecommerce

A

Connecting the buyer and seller on the internet
- Distributors online business

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31
Q

Top reasons for not providing e-commerce

A
  • Too hard to get data to get started
  • Customers dont need it
  • Its too expensive, now its not the time to invest in it
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32
Q

Steps in E-commerce

A
  1. The customer places and pays for order
  2. Order is processed, packed and shipped
  3. Order is delivered to customer
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33
Q

E-commerce and CRM integration

A

When integrated, they can deliver and uninterrupted and personalized website
- Creates bidirectional data flow and centralized hub for customer data

34
Q

Benefits of integrating E-commerce and CRM

A
  • Customer data (e-mail, phone #)
  • Purchase history
  • Sales interactions
35
Q

Ecommerce and CRM Benefits

A

Lead conversion - Stay on prospect’s radar, close the deal
Personalization - Customers expect it and integration delivers it
Analytics - know customers and maintain customer base
Cost savings - e-commerce / CRM integration reduces errors and waste

36
Q

Advantages of E-commerce for distributors

A
  • Keep up with competition
  • Meet the needs/requirements of customers
  • Attract new customers
  • Increase sales
    The bottom line question is not “Can you afford” but rather “can you afford to not have it”
37
Q

What is just as critical as ecommerce?

A

The back end

38
Q

What does ecommerce enable?

A

It enables a larger than normal geographical reach

39
Q

What does E-commerce touch?

A

Pricing
Order processing
Inventory management
Accounts receivable
Sales analysis

40
Q

It is about a _______ not just technology

A

Process

41
Q

Distribution technology ________ and enhances each step in the flow

A

touches

42
Q

Benefits of Barcoding system

A
  • Increases productivity
  • Maximizes efficiencies
  • Reduces costs and waste
  • Improves quality control
43
Q

Why is a barcode important

A
  • Error prevention
  • Large inventory tracking
  • Reduces repetitive labor
  • Cost savings
  • Speed
44
Q

Why is RFID important?

A

Productivity improvements
Eliminates errors and labor
Immediate benefits

45
Q

What is warehouse management

A

Bar-coding
Getting control of warehouse operations
Improved productivity, visibility, and accuracy

46
Q

Total warehouse logistics benefits

A

Cycle count during business hours
Easy to train employees
Employee productivity - reduces travel time
Employees activity can be accurately measured
Control over nonstock items

47
Q

Biggest challenge with technology

A

you have the necessary internet connectivity

48
Q

AI benefits to distributors

A

Optimized decision-making
Improved efficiency and productivity
Projected growth
Enhanced customer service

49
Q

What are distributors most concerned about in 2024 and beyond

A
  • Supply chain and inventory
  • customer spending and market demand
  • Economic uncertainty and recession
  • Labor / staffing
  • Pricing, Inflation, and Costs
  • Flat to modest growth in 2024
50
Q

What do distributors do to play offense in defensive times

A
  • Evaluate last price paid
  • Invest in innovation
  • React to threats and opportunities quickly
  • Get a better buy price
  • Make a value creation plan with key suppliers
51
Q

Problems in the US with distribution

A

Rising crime rate
Southwest border
Continuing supply chain issues
Shrinking labor force
High energy costs
Rising costs

52
Q

Problems in the world with distribution

A

Rising energy prices and shortages
Slow economic growth
On-going Ukraine and Russia war
Red sea conflict

53
Q

Key parts for a distributors success Today

A

Inventory+People+Technology=Success

54
Q

Key parts for a distributors future success

A

Inventory+People+Technology+Business Analytics=Success

55
Q

– What business analytics?

A

Business analytics provides the tools to help identify and solve the problem
- Gps and mapquest rolled into one. Value is not the data but what you do with the data

56
Q

—–Business analytics is used by companies committed to ______

A

data driven decision making

57
Q

Analytics is a combination of

A

Descriptive, Prescriptive and Predictive

58
Q

Sources of Business Analytics

A

Order Processing
Pricing
Purchasing
Receiving

59
Q

Descriptive Analytics

A

What happened
Where are we?
- Reporting
- Scorecards
- Clustering

60
Q

Predictive

A

What is likely to happen?
Where do we want to go?
- Data mining
- Modeling
- Forecasting

61
Q

Prescriptive

A

What should we do?
How do we get there?
- Optimization
- Simulation
- Big data analysis

62
Q

Why would you or would you not make all decisions based on analytics?

A
  • Take advantage of an opportunity
  • Competition
  • Market/economy
    -Man made / nature issues
63
Q

Business descriptive analytics examples

A
  • When did customer x visit the branch?
  • Who are my most valuable customers?
  • What are my most important products?
64
Q

Diagnostic Analytics

A

Answers the ‘why’ of Descriptive analytics

65
Q

What does Business Predictive analytics allow

A
  • Allows Dist. to build a strategy and set a path for the future
  • Be bold, but realistic
  • Highlight progress and success
66
Q

What goes into Business predictive analytics?

A

Data- right clean and complete data
Statistics - Do something with the data
Assumptions - Have to be valid

67
Q

What is the perk of Predictive analytics?

A

If you can predict with customers are likely to defect, you can target discounts and avoid revenue loss

68
Q

Constraints of Prescriptive analytics

A

Helps to provide realism by ensuring you have the necessary bandwidth to accomplish

69
Q

What do the constraints of prescriptive include?

A

Capabilities
Headcount
Capacity

70
Q

Support services

A

Information Technology
Human Resources Management
Finance management

71
Q

During Mike Hockett from MDM Presentation, he discussed the three opportunities for Distributors. What are they?

A

AI
Economy
Talent

72
Q

During Mike Hockett from MDM Presentation, he discussed the projected revenue for 2024 would be less than 2023? True or False?

A

False

73
Q

Focus of Gen-2 Business Model and Analytics

A

Customer

74
Q

Two critical parts of the Analytics building blocks that were external (Gen 2)

A

Market Share
Wallet share

75
Q

Critical parts of the Analytical building blocks that were internal (Gen 1)

A

Sweet spot analysis
Segmentation
Data quality and Completeness

76
Q

Was the internet designed to be secure?

A

No

77
Q

Which country was identified as top Nation-State Cyber threat to the US?

A

China

78
Q

Name the threat actors in the cyber fight

A

Hacktivist
Rogue
Criminal
Script Kiddies

79
Q

Name the common cyber threats

A

Ransome ware
Data breaches
Compromised emails
supply chain attacks

80
Q

Steps when you have been compromised by a hacker

A
  • Activate plan and mobilize team
  • Third-party communications - notify partners for assistance
  • Identification and scope assessment
  • Containment strategy
  • Customer communication plan
  • Start recovery plan

IDIS 344 (2 decks)

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