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Ch.8

achieving operational excellence and customer intimacy: enterprise applications

TermDefinition
analytical CRM customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance.
bullwhip effect distortion of information about the demand for a product as it passes from one entity to the next across the supply chain.
churn rate measurement of the number of customers who stop using or purchasing a products or services from a company. used as an indicator of the growth or decline of a firms customer base.
cross-selling marketing complementary products to customers.
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.
demand planning determining how much product a business needs to make to satisfy all its customers' demands.
employee relationship management (ERM) software dealing with employee issues that are closely related to CRM, such as setting objectives, employee performance management, performance-based compensation, and employee training.
enterprise software set of integrated modules for applications such as sales and distribution, financial accounting, materials management, production planning, 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 center and customer service support, and marketing automation.
partner relationship management (PRM) automation of the firms relationships with its 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, and products are "pushed" to customers.
social CRM tools enabling a business to link customer conversations, data, and relationships from social networking sites to CRM processes.
supply chain network of organizations and business processes for procuring materials, transforming raw materials into intermediate and finished 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 sytems 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, e-mail, customer service desk, conventional mail, or point of purchase.
Created by: 1493084379