ISOM 247 Quiz 1 chpt 3
Terms
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- involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
- Supply Chain Management (SCM)
- Effective and efficient SCM systems can enable an organization to:
-
-Increase efficiencies while seeking a competitive advantage (e.g. through cost leadership)
-Decrease the power of its buyers
-Increase its own supplier power
-Create entry barriers thereby reducing the threat of new entrants
-Increase switching costs to reduce the threat of substitute products or services and the threat of new entrants - involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability
- Customer Relations Management (CRM)
- CRM can enable an organization to:
-
-Identify types of customers
-Design individual customer marketing
campaigns
-Treat each customer as an individual
-Understand customer buying behaviors - a standardized set of activities that accomplish a specific task, such as processing a customer’s order
- business process
- the analysis and redesign of workflow within and between enterprises
- Business Process Reengineering (BPR)
- integrates all departments and functions throughout an organization into a single pre-made IT system so that employees can make enterprise-wide de
- Enterprise Resource Planning (ERP)
-
ERP is ____ of the ways to achieve an integrated enterprise-wide information system
- ONE
- The goal of integrated enterprise-wide information systems (including ERP systems): every _______ or functional area work together sharing common information and not be a "____"
- department, silo