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23 Cards in this Set

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Supply Chain Management (SCM)
involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
Four basic components of supply chain management include:
Supply chain strategy
Supply chain partners
Supply chain operation
Supply chain logistics
Supply chain strategy
strategy for managing all resources to meet customer demand
Supply chain partners
partners throughout the supply chain that deliver finished products, raw materials, and services.
Supply chain operation
schedule for production activities
Supply chain logistics
product delivery process
Effective and efficient SCM systems can enable an organization to:
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
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
Customer relationship management (CRM) can enable an organization to:
Identify types of customers
Design individual customer marketing campaigns
Treat each customer as an individual
Understand customer buying behaviors
Enterprise resource planning (ERP)
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
ERP’s goal
every department or functional area work together sharing common information and not be a “silo”
The organization must maintain a consistent IT infrastructure
Organizations use many integration tools to integrate IT infrastructures including:
Intranets
Enterprise information portals (EIPs)
Intranets
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
Enterprise information portals (EIPs)
an Internet site owned and operated by an organization to support its operations.
Two ways to measure the success of IT strategic initiatives:
Efficiency IT metrics and Effectiveness IT metrics
IT metrics
measure the performance of the IT system itself including throughput, speed, availability, accuracy, web traffic, response time.
Effectiveness IT metrics
measure the impact IT has on business processes and activities including customer satisfaction, conversion rates, sell-through increases, etc.
Benchmarks
baseline values the system seeks to attain
Benchmarking
process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance
Throughput
amount of information that can travel through a system at any point in time
Web traffic
includes number of pageviews, number of unique visitors, and time spent on a Web page
Response time
time to respond to user interactions
Customer metrics
assess the management of customer relationships by the organization and include:
Market share
Customer acquisition
Customer satisfaction
Customer profitability