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12 Cards in this Set
- Front
- Back
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Legacy Systems Problems |
-Declining base of systems experts -Increasing maintenance costs -Rigid, predefined process flows -Incompatibility with newer systems |
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Information Silos and Enterprise Architecture |
Isolated info in departments, CRM and ERP try to overcome this |
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4 Types of Enterprise Systems |
-Enterprise Resource Planning -Supply Chain Management -Customer Relationship Management -Knowledge Management |
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Enterprise Resource Planning |
90's ERP Components: -Accounting and Finance -Production and Materials Management -Human Resources Additional ERP Components -SCM, CRM, BI and Data Analytics, Cloud Services, E-Commerce Platform, Mobile |
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ERP Characteristics |
-Data maintained in a centralized database -Based on pre-defined business processes -Modular design allows progressive install -Average implementation takes 18.4 months and costs $16.2 mil |
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Supply Chain Components
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-Inventory -Facilities -Transportation -Information |
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Customer Life Cycle |
-Reach -Acquire -Develop -Retain -Inpspire |
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Customer Retention |
6 to 7 times more costly to acquire |
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New Customer Costs |
-Cost of advertising/promotion -Price sensitivity -Personal selling -Setting up new accounts -Time and money in explaining business -Cost associated with ineffeciencies |
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Profits from satisfied customers |
-Reduced price sensitivity -Reduced switching to competitors -Increased referrals -Increased repeat purchases |
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RFM analysis |
Recently Frequently Monetary value 1 to 5 scale |
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Knowledge Management |
Acquisition/Creation - collaborative tools Storage/Codification - cheap storage allows everything to be saved Dissemination/Transfer - web 2.0, easy sharing Application/Utilization - better search tools enable knowledge to be found and leveraged more efficiently |
