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23 Cards in this Set
- Front
- Back
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Supply Chain Management (SCM)
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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
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Four basic components of supply chain management include:
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Supply chain strategy
Supply chain partners Supply chain operation Supply chain logistics |
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Supply chain strategy
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strategy for managing all resources to meet customer demand
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Supply chain partners
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partners throughout the supply chain that deliver finished products, raw materials, and services.
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Supply chain operation
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schedule for production activities
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Supply chain logistics
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product delivery process
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Effective and efficient SCM systems can enable an organization to:
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Decrease the power of its buyers
Increase its own supplier power Increase switching costs to reduce the threat of substitute products or services Create entry barriers thereby reducing the threat of new entrants Increase efficiencies while seeking a competitive advantage through cost leadership |
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Customer relationship management (CRM)
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involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability
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Customer relationship management (CRM) can enable an organization to:
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Identify types of customers
Design individual customer marketing campaigns Treat each customer as an individual Understand customer buying behaviors |
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Enterprise resource planning (ERP)
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integrates all departments and functions throughout an organization into a single IT system so that employees can make enterprisewide decisions by viewing enterprisewide information on all business operations
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ERP’s goal
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every department or functional area work together sharing common information and not be a “silo”
The organization must maintain a consistent IT infrastructure |
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Organizations use many integration tools to integrate IT infrastructures including:
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Intranets
Enterprise information portals (EIPs) |
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Intranets
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an internalized portion of the Internet, protected from outside access, that allows an organization to provide access to information and application software to only its employees
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Enterprise information portals (EIPs)
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an Internet site owned and operated by an organization to support its operations.
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Two ways to measure the success of IT strategic initiatives:
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Efficiency IT metrics and Effectiveness IT metrics
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IT metrics
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measure the performance of the IT system itself including throughput, speed, availability, accuracy, web traffic, response time.
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Effectiveness IT metrics
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measure the impact IT has on business processes and activities including customer satisfaction, conversion rates, sell-through increases, etc.
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Benchmarks
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baseline values the system seeks to attain
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Benchmarking
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process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance
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Throughput
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amount of information that can travel through a system at any point in time
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Web traffic
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includes number of pageviews, number of unique visitors, and time spent on a Web page
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Response time
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time to respond to user interactions
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Customer metrics
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assess the management of customer relationships by the organization and include:
Market share Customer acquisition Customer satisfaction Customer profitability |
