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SPS COPs Internal Training > Omnichannel Glossary > Flashcards

Omnichannel Glossary Flashcards

1
Q

Define ‘Analytics’

A

Analysis of trading partner data to improve sales, balance inventories and enhance fulfillment performance

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2
Q

Define ‘Assortment’

A

Used to enable rapid, new item set ups and automate change management of item information over time among trading partners

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3
Q

Define ‘Canonical Data Model’

A

Normalizes data input and output among trading partners; enables companies to build one connection to the network to connect with every other member on the network

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4
Q

Define ‘Community’

A

The process retailers, suppliers and other trading partners use to connect with each other to activate usage of an application on the retail business network with a new company

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5
Q

Define ‘Development Environment’

A

Provides tools, resources and training to build applications that connect to the retail business network

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6
Q

Define ‘Engine’

A

Shared services that connect partners, manage common transactions and improve business efficiency

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7
Q

What are the four components of an ‘Engine’?

A

Communications, transformation, information services, and workflow

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8
Q

Define ‘Fulfillment’

A

The end-to-end process of fulfilling an order to the consumer; includes orders, shipments, payments & returns

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9
Q

Define ‘Graph’

A

A map of relationships among global trading partners in the network

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10
Q

What are the 5 components of a graph?

A

Items, locations, orders, organizations, people

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11
Q

Define ‘Network’

A

A community of retail organizations that is presented through trading partner maps and a canonical data model in trading partner interactions

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12
Q

Define ‘Retail business network’

A

A community that organizations in the retail ecosystem join to connect with other members

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13
Q

Define ‘Sourcing’

A

The process companies use to discover new trading partners that offer desired products and services meeting specific fulfillment, assortment and other requirements

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14
Q

Define ‘Trading partner maps’

A

Prebuilt connections that enable data exchange between trading partners according to their business processes

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15
Q

Define ‘3PL’

A

3rd party logistics

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16
Q

Define ‘B2B’

A

Business to business; type of commerce transaction that exists between businesses

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17
Q

Define ‘B2C’

A

Business to Consumer; businesses that sell primarily to individual consumers

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18
Q

Define ‘Big-box store’

A

A large retail store whose physical layout resembles a large box from above

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19
Q

Define ‘Brick-and-mortar’

A

A traditional “street-side” business that deals with its customers face to face in a store/office

20
Q

Define ‘Consumer experience’

A

The perception a patron has after engaging with a company, brand, product or service

21
Q

Define ‘CRM contact center’

A

Computer-based system that provide call and contact routing

22
Q

Define ‘Cross-docking’

A

A cost-effective and efficient distribution strategy; consolidates shipments and re-distributes partial loads

23
Q

Define ‘Customer’

A

The individual who is the entire objective of omnichannel

24
Q

Define ‘Customer Experience Management’ (CEM)

A

A business strategy that focuses and redefines the business from the customer viewpoint

25
Q

Define ‘Delivery locations for customer pickup’

A

A location where a package can be picked up b y the customer

26
Q

Define ‘Drop shipping’

A

A manufacturer or distributor fulfilling and shipping orders directly to end consumer

27
Q

Define ‘E-commerce’

A

The buying and selling of goods on the internet

28
Q

Define ‘Enterprise App Stores’

A

Applications are being developed with features and functionality of Amazon, Google, Facebook and the Apple App Store in mind to improve consumer experience

29
Q

Define ‘E-Retailer’

A

A company whose primary business is the sale of goods and services through the internet

30
Q

Define ‘Global markets’

A

Emerging online markets around the world; provide huge opportunity for retailers aiming to diversity revenues with online sales to customers abroad

31
Q

Define ‘Home shopping’

A

Browsing and purchasing of goods offered on TV or using a computer

32
Q

Define ‘Logistics’

A

Part of supply chain process that plans, implements and controls the flow and storage of goods

33
Q

Define ‘Manufacturer-direct’

A

A business model in which the manufacturer sells goods directly to the end user of the product

34
Q

Define ‘Mobile commerce’

A

The use of wireless handheld devices such as smart phones and laptops to conduct transactions online

35
Q

Define ‘Mobile internet devices (MID)’

A

Small internet communications unit designed to provide information for the consumer market

36
Q

Define ‘Multichannel’

A

An operational view - how you allow the customer to complete transactions in each channel

37
Q

Define ‘Omnichannel fulfillment’

A

Fulfill every SKU from every channel for every demand source; prioritizes order delivery on individual customer needs

38
Q

Define ‘Retailer’

A

A business or person that sells goods to the consumer

39
Q

Define ‘RFID’

A

Radio Frequency Identification; data collection technology that uses electronic tags for storing data

40
Q

Define ‘Shopping channels’

A

A television channel which shows products you can buy and allows you to buy them using your remote

41
Q

Define ‘Showrooming’

A

Consumers using a physical retail establishment to research a purchase later made online (website or mobile)

42
Q

Define ‘Social media’

A

Interaction among people through virtual communities and networks

43
Q

Define ‘Storage lockers for deliveries’

A

Lockers placed in convenience stores that accept packages for customers to pickup later

44
Q

Define ‘Store location rationalization’

A

Reorganization of a company to increase efficiency

45
Q

Define ‘Suppliers’

A

Someone whose business is to supply a particular service or commodity

46
Q

Define ‘Supply chain’

A

Process of moving goods from the customer order through distribution of products to customer

SPS COPs Internal Training (10 decks)

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