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INFO210-ch8
| Term | Definition |
|---|---|
| Integration | Allows separate systems to communicate directly with each other, eliminating the need for manual entry into multiple systems Forward integration Backward integration |
| Enterprise system | Provide enterprisewide support and data access for a firm’s operations and business processes |
| Enterprise application integration (EAI) | Connects the plans, methods, and tools aimed at integrating separate enterprise systems |
| Middleware | Several different types of software that sit between and provide connectivity for two or more software applications |
| Enterprise application integration middleware | Takes a new approach to middleware by packaging commonly used applications together, reducing the time needed to integrate applications from multiple vendors |
| Supply Chain Management (SCM) | The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability |
| The supply chain has three main links | Materials flow from sup.s and their “upstream” sup.s at all levels Transform. of mat.s into semifin. and fin. products through the organization’s own production process Distribution of products to customers and their “downstream” customers at all le |
| Effective and efficient SCM systems can enable an organization to | Dec. the power of its buyers Incr. its own sup. power Incr. switching costs to reduce the threat of sub products or services Create entry barriers, dec. the threat of new entrants Inc. efficiencies while seeking a compet. advan. through cost leadershi |
| Supply chain visibility | The ability to view all areas up and down the supply chain in real time |
| Supply chain planning system | Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory |
| Supply chain execution system | Automates the different activities of the supply chain |
| Bullwhip effect | Occurs when distorted product demand information ripples from one partner to the next throughout the supply chain |
| THE BENEFITS OF SCM: IMPROVED PROFITABILITY | Companies can respond faster and more effectively to consumer demands through supply chain enhances |
| Demand planning system | Generates demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to consumer demands through supply chain enhancements |
| Common supply chain metrics include | Back order Inventory cycle time Customer order cycle time Inventory turnover |
| Primary challenges include | Cost Complexity |
| Cost | An SCM system can cost millions of dollars for the software and millions more for help implementing the system |
| Complexity | The move towards globalization is increasing complexity in the supply chain |
| Fastest growing SCM components | Collaborative demand planning Collaborative engineering Selling chain management Supply chain event management (SCEM) |
| Customer relationship management (CRM) | Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability -Charles Schwab & Kaiser Permanente success thru CRM |
| THE BENEFITS OF CRM | Organizations can find their most valuable customers through “RFM” - Recency, Frequency, and Monetary value -How Recently, How Frequently, and $ value of each purch. |
| CRM reporting technology | Help organizations identify their customers across other applications |
| CRM analysis technologies | Help organization segment their customers into categories such as best and worst customers |
| CRM predicting technologies | Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving |
| Operational CRM | Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers |
| Analytical CRM | Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers |
| Marketing and operational CRM technology | List generator, campaign management, cross-selling and up-selling |
| Sales and operational CRM technology | Sales management, contact management, opportunity management |
| Customer service and operational CRM technology | Contact center, Web-based self-service, call scripting |
| Three marketing operational CRM technologies | List generator Campaign management system Cross-selling and up-selling |
| SALES AND OPERATIONAL CRM | The sales department was the first to begin developing CRM systems with sales force automation a system that automatically tracks all of the steps in the sales process |
| Sales and operational CRM technologies | Sales management CRM system Contact management CRM system Opportunity management CRM system |
| Three customer service operational CRM technologies | Contact center (call center) Web-based self-service system Call scripting system |
| Common features included in contact centers | Automatic call distribution Interactive voice response Predictive dialing |
| Website personalization | Occurs when a website has stored enough data about a person’s likes and dislikes to fashion offers more likely to appeal to that person |
| ANALYTICAL CRM | relies heavily on data warehousing technologies and bus. intel to glean insights into cust. behavior These systems quickly aggregate, analyze, and disseminate customer information throughout an organization |
| THE CHALLENGES OF CRM | The customer is always right and now has more power than ever thanks to the Internet (Dodge example) |
| Current trends include | Supplier relationship management (SRM) Partner relationship management (PRM) Employee relationship management (ERM) |
| Enterprise resource planning | Integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make enterprisewide decisions by viewing enterprisewide information on all business operations |
| Reasons ERP systems are powerful tools | ERP is a logical solution to incompatible applications ERP addresses global information sharing and reporting ERP avoids the pain and expense of fixing legacy systems |
| ENTERPRISE RESOURCE PLANNING | ERP systems collect data from across an organization and correlates the data generating an enterprisewide view |
| Core ERP component | Traditional components included in most ERP systems and they primarily focus on internal operations |
| Extended ERP component | Extra components that meet the organizational needs not covered by the core components and primarily focus on external operations |
| Three most common core ERP components | Accounting and finance Production and materials management Human resource |
| Accounting and finance ERP component | Manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management |
| Production and materials management ERP component | Handles the various aspects of production planning and execution such as demand forecasting, production scheduling, job cost accounting, and quality control |
| Human resource ERP component | Tracks employee information including payroll, benefits, compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities |
| Extended ERP components include: | Business intelligence Customer relationship management Supply chain management Ebusiness components include -Elogistics -Eprocurement |
| Balanced scorecard | Enables organizations to clarify their vision and strategy and translate them into action 4 perspectives -Learning and growth -Internal business process -Customer -Financial |
| THE CHALLENGE OF ERP | ERP systems contain multiple complex components that are not only expensive to purchase, but also expensive to implement |
| Cost of ERP include | Software Consulting fees Hardware expenses Training fees |
| THE FUTURE OF ENTERPRISE SYSTEMS: INTEGRATING SCM, CRM, AND ERP | SCM, CRM, and ERP are the backbone of ebusiness Integration of these applications is the key to success for many companies Integration allows the unlocking of information to make it available to any user, anywhere, anytime |
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hellomandae
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