ITM Chapter 9 Cards Flashcards
Bullwhip Effect
information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain
Demand Planning
A function of supply chain planing which determines how much product a business needs to make to satisfy all of its customers’ demands
Cross-Selling
The marketing of complementary products to customers
Churn Rate
measures the number of customers who stop using or purchasing products or services from a company
Analytical CRM
Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance.
Collaborative Planning Forecasting and Replenishment (CPFR)
Firms collaborating with their suppliers and buyers to formulates demand forecasts, develop production plans, and coordinate shipping, warehousing, and stocking activities.
Customer Lifetime Value (CLTV)
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.
Employee Relationship Management (ERM)
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.
Enterprise Software
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.
Just-In-Time Strategy
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.
Operational CRM
Customer-facing applications, such as sales force automation, call centre and customer service support, and marketing automation.
Partner Relationship Management (PRM)
Automation of the firm’s relationships with it’s selling partners using customer data and analytical tools to improve coordination and customer sales.
Pull-based Model
Supply chain driven by actual customer orders or purchases so that members of the supply chain produce and deliver only what customers have ordered.
Push-based Model
Supply chain driven by production master schedules based on forecasts or best guesses of demand for products, so that products are “pushed” to customers.
Service Platform
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.
Supply Chain
Network of organizations and business processes for procuring materials, transforming raw materials into intermediate and finishes products, and distributing the finished products to customers.
Supply Chain Execution Systems
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.
Supply Chain Planning Systems
Systems that enable a firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product.
Touch Point
Method of firm interaction with a customer, such as telephone, email, customer service desk, conventional mail, or point-of-purchase.
