ITM Chapter 9 Cards

Question 2

Bullwhip Effect

Answer 2

information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain

Question 3

Demand Planning

Answer 3

A function of supply chain planing which determines how much product a business needs to make to satisfy all of its customers’ demands

Question 4

Cross-Selling

Answer 4

The marketing of complementary products to customers

Question 5

Churn Rate

Answer 5

measures the number of customers who stop using or purchasing products or services from a company

Question 6

Analytical CRM

Answer 6

Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance.

Question 7

Collaborative Planning Forecasting and Replenishment (CPFR)

Answer 7

Firms collaborating with their suppliers and buyers to formulates demand forecasts, develop production plans, and coordinate shipping, warehousing, and stocking activities.

Question 8

Customer Lifetime Value (CLTV)

Answer 8

Difference between revenues produced by a specific customer and the expenses for acquiring and servicing that customer minus the cost of promotional marketing over the lifetime of the customer relationship, expressed in today’s dollars.

Question 9

Employee Relationship Management (ERM)

Answer 9

Software dealing with employee issues that are closely related to CRM, such setting objectives, employee performance management, performance-based compensation, and employee performance management, performance-based compensation, and employee training.

Question 10

Enterprise Software

Answer 10

Set of integrated modules for applications such as sales and distribution, financial accounting, investment management, materials management, production planning plant maintenance, and human resources that allow data to be used by multiple functions and business processes.

Question 11

Just-In-Time Strategy

Answer 11

Scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished goods shipped as soon as they leave the assembly line.

Question 12

Operational CRM

Answer 12

Customer-facing applications, such as sales force automation, call centre and customer service support, and marketing automation.

Question 13

Partner Relationship Management (PRM)

Answer 13

Automation of the firm’s relationships with it’s selling partners using customer data and analytical tools to improve coordination and customer sales.

Question 14

Pull-based Model

Answer 14

Supply chain driven by actual customer orders or purchases so that members of the supply chain produce and deliver only what customers have ordered.

Question 15

Push-based Model

Answer 15

Supply chain driven by production master schedules based on forecasts or best guesses of demand for products, so that products are “pushed” to customers.

Question 16

Service Platform

Answer 16

Integration of multiple applications from multiple business functions, business units or business partners to deliver a seamless experience for the customer, employee, manager, or business partner.

Question 17

Supply Chain

Answer 17

Network of organizations and business processes for procuring materials, transforming raw materials into intermediate and finishes products, and distributing the finished products to customers.

Question 18

Supply Chain Execution Systems

Answer 18

Systems to manage the flow of products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner.

Question 19

Supply Chain Planning Systems

Answer 19

Systems that enable a firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product.

Question 20

Touch Point

Answer 20

Method of firm interaction with a customer, such as telephone, email, customer service desk, conventional mail, or point-of-purchase.