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Info Chap 9
Achieving Operational Excellence and Customer Intimacy: Enterprise Applications
| Question | Answer |
|---|---|
| Enterprise Systems | {enterprise resource planning(ERP) -Suite of integrated software modules and a common central database. -Collects data from many divisions of firm for use in nearly all of firm’s internal business activities |
| Enterprise Software | Built around thousands of predefined business processes that reflect best practices. (Human administration: Personnel administration, payroll, etc.) It also implements in firms through the selection of system functions they wish to use. |
| Business value of enterprise systems | -Increase operational efficency -Provide firm wide information to support DM -Enable rapid responses to customer requests for information or products -Include analyrtical tools to evaluate iverall organizational performance |
| Supply Chain | Network of organizations and proccess for: 1)Procuring raw materials 2)Transforming them into products 3)Distributing the products |
| Upstream supply chain | Firms suppliers, suppliers' suppliers, processes for managing relationships with them |
| Downstream supply chain | Organizations and processes responsible for delivering products to customers |
| Just-in-time strategy | Components arrive as they are needed Finished goods shipped after leaving assembly line |
| Safety stock | Buffer for lack of flexibility in supply chain |
| Bullwhip effect | Information about product demand gets distorted as it passes from one entity to next across supply chain |
| Supply Chain management software | (supply chain planning systems) -Model existing supply chain -Demand Planning -Optimize sourcing, manufacturing plans -Establish inventory levels -Indentifying transportation modes |
| Suplpy chain execution systems | Manage the flow of products through distribution centers and warehouse |
| Global supply chain issues | -typically span greater geographic distances and time differences, more complex price issues, and foreign goverment regulations |
| How does the internet help companies manage many aspects of global supply chains | through sourcing, transportation, communications, and international finance |
| Push-based model(build-to-stock) | Schedules based on best guesses of demand |
| Pull-based model(demand-driven) | customer orders trigger events in supply chain |
| Sequential supply chains | Information and materials flow sequentially from company to company |
| Concurrent supply chains | Information flows in many directions simultaneously among members of a supply chain network. |
| Business value of SCM systems | 1)match supply to demand 2)reduce inventory levels 3) improve delivery service 4)Speed product time of market 5) use assets more effectively 6) reduce costs and increase sales |
| The Future Internet-Driven Supply Chain | operates like a digital logistics nervous system. It provides multidirectional communication among firms, networks of firms, and e-marketplaces so that entire networks of supply chain partners can immediately adjust inventories, orders, and capacities |
| A customer-centric focus | It costs 6 times more to sell to a new customer. Boosting customer retention by 5 percent can boost profits by 85 percent The odds of selling to an existing customer are 50 percent; a new one 15 percent |
| CRM (Customer Relationship Management Systems) | capture and integrate customer data from all over the organization. the system consolidate and analyze customer data as well as distributes customer info to various systems and customer touch points across enetrprise. |
| Partner relationship management (PRM) | -Integrating lead generation, pricing, promotions, order configurations, and availability -Tools to assess partners’ performances |
| Employee relationship management (ERM) | E.g. Setting objectives, employee performance management, performance-based compensation, employee training |
| Sales force automation (SFA) | E.g. sales prospect and contact information, and sales quote generation capabilities |
| Customer service | E.g. assigning and managing customer service requests; Web-based self-service capabilities |
| Marketing | E.g. capturing prospect and customer data, scheduling and tracking direct-marketing mailings or e-mail |
| Two Types of CRM | 1)Operational CRM 2)Analytical CRM |
| Operational CRM | -Customer-facing applications -E.g. sales force automation, call center and customer service support, and marketing automation |
| Analytical CRM | Analyze customer data output from operational CRM applications. Its based on data warehouses populated by operational CRM systems and customer touch points (Customer lifetime value {CLTV}) |
| Advantages of CRM | -Increased customer satisfaction -Reduced direct-marketing costs -More effective marketing -Lower cost of customer aquistion/retention -Increased salses Revenue -Reduce Churn rate |
| Churn Rate | Number of customers who stop using or purchasing products or services from a company(indicator of growth or decline of firms customer base) |
| Service platform | Integrates multiple applications to deliver a seamless experience for all parties E.g. Order-to-cash process |
| E.Portal software | Used to integrate information from enterprise applications and legacy systems and present it as if coming from a single source |
Created by:
apetzke