IDIS 344 Final Flashcards
Purpose of Gettysburg class
- To show how leadership and logistics lead to success both on the battlefield and in business
What traits does a leader use to exercise their influence?
Communication Skills
Decision making
Planning Skills
Personal responsibility
Motivation
Confidence
Vision
What does logistics in business refer to?
The movement of goods from Point A to Point B
What are the functions of logistics in business?
Transportation
Warehousing
What is logistics in the military
The transfer of personnel and material from one location to another
What makes a successful business plan?
Clear objectives
Good intelligence
Good leadership - top to bottom
Clear vision of success and way ahead
Logistics
Key leadership principles
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
Union logistics comparison
“Three hots and a cot”
- Established supply chain
- Shorter distances to cover
- Enjoyed benefits of industrial infrastructure
- Interior lines
Confederate logistic comparison
“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
Day 2 of Gettysburg
Union wins through leadership and initiative.conf. fail to coordinate their attacks due to poor leadership
Battle of Gettysburg day 3
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
General for union
George G Meade
General for Confederacy
Robert E Lee
Who won day 1 of battle
Confederate but union held high ground setting stage for day 2
Primary mission for Lees retreat from Gettysburg
Safetly return the army across the potomac river back to virgina
Secondary mission for lees retreat from gettysburg
Safely return wounded, prisoners, and foraged items back to Virgina
Challanges to Lees retreat
- loss of key leaders in crucial time
- Union Army was in pursuit
- Roads, Terrain, and Weather
Results from Lees Retreat
-Successful Accomplishment of Both missions
- Army was still in bad shape
- War continued for almost two more years
Parallels of Gettysburg for future distributors
- 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
Leaders in business often _______ to leaders in battle
face similar challanges
What are the consequences of leaders decisions
For battle they cost lives, in business it costs money
What can we learn from with leaders in history
We can learn from both the mistakes and successes
Purpose of marketing?
Understand your customer so well the product sells itself
7 P’s of Marketing
Product
Promotion
Price
Placement
People
Process
Physical evidence
What is marketing?
Activity and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Marketing Purpose?
Generate revenue for a brand, company or organization though digital activities that drive traffic, qualified leads and sales in collaboration with the sales team
Marketing Focus (manufacture)
-Build product/brand awareness
- Build demand for the product/brand
- “Sell” the product/brand to build market
Marketing focus for Distributor
- Distinguish yourself in the market
- Focus on your value proposition
- More emphasis on your Brand versus your Products
Five S’s
Source
Stock
Store
Sell
Ship
ecommerce
Connecting the buyer and seller on the internet
- Distributors online business
Top reasons for not providing e-commerce
- Too hard to get data to get started
- Customers dont need it
- Its too expensive, now its not the time to invest in it
Steps in E-commerce
- The customer places and pays for order
- Order is processed, packed and shipped
- Order is delivered to customer
E-commerce and CRM integration
When integrated, they can deliver and uninterrupted and personalized website
- Creates bidirectional data flow and centralized hub for customer data
Benefits of integrating E-commerce and CRM
- Customer data (e-mail, phone #)
- Purchase history
- Sales interactions
Ecommerce and CRM Benefits
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
Advantages of E-commerce for distributors
- 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”
What is just as critical as ecommerce?
The back end
What does ecommerce enable?
It enables a larger than normal geographical reach
What does E-commerce touch?
Pricing
Order processing
Inventory management
Accounts receivable
Sales analysis
It is about a _______ not just technology
Process
Distribution technology ________ and enhances each step in the flow
touches
Benefits of Barcoding system
- Increases productivity
- Maximizes efficiencies
- Reduces costs and waste
- Improves quality control
Why is a barcode important
- Error prevention
- Large inventory tracking
- Reduces repetitive labor
- Cost savings
- Speed
Why is RFID important?
Productivity improvements
Eliminates errors and labor
Immediate benefits
What is warehouse management
Bar-coding
Getting control of warehouse operations
Improved productivity, visibility, and accuracy
Total warehouse logistics benefits
Cycle count during business hours
Easy to train employees
Employee productivity - reduces travel time
Employees activity can be accurately measured
Control over nonstock items
Biggest challenge with technology
you have the necessary internet connectivity
AI benefits to distributors
Optimized decision-making
Improved efficiency and productivity
Projected growth
Enhanced customer service
What are distributors most concerned about in 2024 and beyond
- 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
What do distributors do to play offense in defensive times
- 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
Problems in the US with distribution
Rising crime rate
Southwest border
Continuing supply chain issues
Shrinking labor force
High energy costs
Rising costs
Problems in the world with distribution
Rising energy prices and shortages
Slow economic growth
On-going Ukraine and Russia war
Red sea conflict
Key parts for a distributors success Today
Inventory+People+Technology=Success
Key parts for a distributors future success
Inventory+People+Technology+Business Analytics=Success
– What business analytics?
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
—–Business analytics is used by companies committed to ______
data driven decision making
Analytics is a combination of
Descriptive, Prescriptive and Predictive
Sources of Business Analytics
Order Processing
Pricing
Purchasing
Receiving
Descriptive Analytics
What happened
Where are we?
- Reporting
- Scorecards
- Clustering
Predictive
What is likely to happen?
Where do we want to go?
- Data mining
- Modeling
- Forecasting
Prescriptive
What should we do?
How do we get there?
- Optimization
- Simulation
- Big data analysis
Why would you or would you not make all decisions based on analytics?
- Take advantage of an opportunity
- Competition
- Market/economy
-Man made / nature issues
Business descriptive analytics examples
- When did customer x visit the branch?
- Who are my most valuable customers?
- What are my most important products?
Diagnostic Analytics
Answers the ‘why’ of Descriptive analytics
What does Business Predictive analytics allow
- Allows Dist. to build a strategy and set a path for the future
- Be bold, but realistic
- Highlight progress and success
What goes into Business predictive analytics?
Data- right clean and complete data
Statistics - Do something with the data
Assumptions - Have to be valid
What is the perk of Predictive analytics?
If you can predict with customers are likely to defect, you can target discounts and avoid revenue loss
Constraints of Prescriptive analytics
Helps to provide realism by ensuring you have the necessary bandwidth to accomplish
What do the constraints of prescriptive include?
Capabilities
Headcount
Capacity
Support services
Information Technology
Human Resources Management
Finance management
During Mike Hockett from MDM Presentation, he discussed the three opportunities for Distributors. What are they?
AI
Economy
Talent
During Mike Hockett from MDM Presentation, he discussed the projected revenue for 2024 would be less than 2023? True or False?
False
Focus of Gen-2 Business Model and Analytics
Customer
Two critical parts of the Analytics building blocks that were external (Gen 2)
Market Share
Wallet share
Critical parts of the Analytical building blocks that were internal (Gen 1)
Sweet spot analysis
Segmentation
Data quality and Completeness
Was the internet designed to be secure?
No
Which country was identified as top Nation-State Cyber threat to the US?
China
Name the threat actors in the cyber fight
Hacktivist
Rogue
Criminal
Script Kiddies
Name the common cyber threats
Ransome ware
Data breaches
Compromised emails
supply chain attacks
Steps when you have been compromised by a hacker
- Activate plan and mobilize team
- Third-party communications - notify partners for assistance
- Identification and scope assessment
- Containment strategy
- Customer communication plan
- Start recovery plan
