Session 6 Flashcards
What do a business value of entreprise systems ?
1) Increase operational efficiency
2) Provide Provide firm-wide information to support decision making
3) Enable rapid responses to customer requests for information or products
4) Include analytical tools to evaluate overall organizational performance and improve decision-making
What causes inefficiencies into a company ?
- Lack of communication
- Inventory
- High transportation cost
- Bullwhip effect
What is the bullwhip effect ?
the Bullwhip effect = Information about product demand gets distorted as it passes from one entity to next across supply chain
What is Supply chain execution excellence ?
See Supply Chain execution excellence youtube
What is Global Supply Chain ?
It is the worldwide system that a business uses to produce products or services.
What are the 2 supply chain model ?
1) Push-based model (build-to-stock)
2) Pull-based model (demand-driven)
What is the Push-based model ?
Earlier SCM systems
Schedules based on best guesses of demand Ex: DELL Ex: Peugeot
What is the Pull-model ?
Demand driven model
Web-based Customer orders trigger events in supply chain
What is CRM ?
- Knowing the customer
- In large businesses, too many customers and too many ways customers interact with firm
What is CRM systems ?
- Capture and integrate customer data from all over the organization
- Consolidate and analyze customer data
- Distribute customer information to various systems and customer touch points across enterprise
- Provide single enterprise view of customers
What is PRM ?
Partner relationship management (PRM)
- Integrating lead generation, pricing, promotions, order configurations, and availability
- Tools to assess partners ’ performance
What is ERM ?
- Employee relationship management (ERM) :
- Setting objectives, employee performance management, performance-based compensation, employee training
What is Operational CRM ?
Operational C R M is :
1) Customer-facing applications
2) Sales force automation call center and customer service support
3) Marketing automation
What is Analytical CRM ?
Based on data warehouses populated by operational CRM systems and customer touch points
- Analyzes customer data (OLAP, data mining, etc.)
- Customer lifetime value (CLTV)
What do the Business value of CRM systems ?
Business value of CRM systems do :
- Increased customer satisfaction
- Reduced direct-marketing costs
- More effective marketing
- Lower costs for customer acquisition/retention
- Increased sales revenue
What is the Churn rate ?
Churn rate is :
1) Number of customers who stop using or purchasing products or services from a company
2) Indicator of growth or decline of firm’s customer base
What are the Enterprise application challenges ?
1) Expensive to purchase and implement enterprise applications
a) Multi-million dollar projects in 2018
b) Long development times
2) Technology changes
3) Business process changes
4) Organizational learning, changes
5) Switching costs, dependence on software vendors
6) Data standardization, management, cleansing
What are the next-generation enterprise applications ?
- Enterprise solutions/suites
- SOA standards
- Open-source applications
- On-demand solutions
- Cloud-based versions
- Functionality for mobile platform
- Social CRM
- Business intelligence
What is Social CRM ?
Social CRM allows:
- Incorporating social networking technologies
- Company social networks
- Monitor social media activity; social media analytics
- Manage social and web-based campaigns
What does Business intelligence allow ?
Business intelligence allows:
- Inclusion of BI with enterprise applications
- Flexible reporting, ad hoc analysis, “what-if” scenarios, digital dashboards, data visualization
