What is it called when distorted product demand information ripples from one partner to the next throughout the supply chain quizlet?

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As the Business World increasingly shifts from product focus to customer focus, why are most organizations treating existing customers better than in the past?

In the age of E-business, and organization is guaranteed a favorable customer base and satisfying them is easier than ever

Existing customers are the best source of profitable, and sustainable revenue growth

Organizations cannot depend on using statistical analysis or value formulas such as recency, frequency, and monetary to gain insight into customer behavior

Placing customers at the forefront of all thinking and decision making requires very little operation and technology changes

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enterprise applications: business communications

Terms in this set (46)

integrations

allows separate systems to communicate directly with each other, eliminating the need for manual entry into multiple systems

forward integration

takes information entered into a given system and sends it automatically to all downstream systems and processes

backward integration

takes information entered into a given system and sends it automatically to all upstream systems and processes

enterprise system

provides enterprisewide support and data access for a firm's operations and business processes

enterprise application integration (EAI)

connects the plans, methods, and tools aimed at integrating separate enterprise systems

legacy system

A current or existing system that will become the base for upgrading or integrating with a new system

middleware

several different types of software that sit between and provide connectivity for two or more software applications

enterprise application integration (EAI) middleware

takes a new approach to middleware by packaging commonly used applications together, reducing the time needed to integrate applications from multiple vendors

supply chain

all parties involved, directly or indirectly, in obtaining raw materials or a product

Supply chain management (SCM)

the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability

supply chain planning systems

uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory

supply chain execution systems

ensures supply chain cohesion by automating the different activities of the supply chain

electronic data interchange (EDI)

a standard format for the electronic exchange of information between supply chain participants

bullwhip effect

occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain

demand planning systems

Generates demand forecasts using statistical tools and forecasting techniques, so companies can respond faster and more effectively to consumer demands through supply chain enhancements

customer relationship management (CRM)

A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability

CRM reporting technologies

Help organizations identify their customers across other applications

CRM analysis technologies

Help organizations segment their customers into categories such such as best and worst customers

CRM predicting technologies

Help organizations predict customer behavior, such as which customers are at rick of leaving

Operational CRM

Supports traditional transnational processing for day-to-day front-office operations or systems that deal directly with the customers

Analytical CRM

Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers

List generators

compiles customer information from a variety of sources and segments it for different marketing campaigns

campaign management systems

Guides users through marketing campaigns by performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis

cross-selling

selling additional products or services to an existing consumer

up-selling

increasing the value of the sale

sales force automation (SFA)

automatically tracks all the steps in the sales process

sales management CRM systems

automates each phase of the sales process, helping individual sales representatives coordinate and organize all their accounts

contact management CRM system

maintains customer contact information and identifies prospective customers for future sales, using tools such as organizational charts, detailed customer notes, and supplemental sales information

Opportunity management CRM systems

Targets sales opportunities by finding new customers or companies for future sales

contact center

(call center) where customer service representatives answer customer inquiries and solve problems, usually by email, chat, or phone

web-based self-service system

allows customers to use the web to find answers to their questions or solutions to their problems

click-to-talk

Allows customers to click on a button and talk with a representative via the internet

call scripting system

gathers product details and issues resolution information that can be automatically generated into a script for the representative to read to the customer

website personalization

occurs when a website has stores enough data about a person's likes and dislikes to fashion offers more likely to appeal to that person

Supplier relationship management (SRM)

focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different products

Partner relationship management (PRM)

discovers optimal sales channels by selecting the right partners and identifying mutual customers

Employee relationship management (ERM)

provides web-based self-service tools that streamline and automate the human resource department

enterprise resource planning (ERP)

integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterpeisewide information about all business operations

core ERP components

are the traditional components included in most ERP systems and primarily focus on internal operations

extended ERP components

are the extra components that meet organizational needs not covered by the core components and primarily focus on external operations.

accounting and finance ERP components

manage accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management

Production and materials management ERP components

handles production planning and execution tasks such as demand forecasting, production scheduling, job cost accounting, and quality control

Human resource ERP components

track employee information including payroll, benefits, compensation, and performance assessment and ensure compliance with all laws

Elogistics

manages the transportation and storage of goods

Eprocurement

is the business-to-business (B2B) online purchase and sale of supplies and services

balanced scorecard

is a management system, as well as a measurement system, that a firm uses to translate business strategies into executable tasks

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What is it called when distorted product man information ripples from one partner to the next throughout the supply chain?

Bullwhip effect. Occurs when distorted product demand information passes from one entity to the next throughout the supply chain.

What is it called when distorted product demand information passes from one entity to the next?

More accurate information from supply chain management systems reduces uncertainty and the impact of the bullwhip effect, in which information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain.

What is the bullwhip effect quizlet?

It refers to increasing swings in inventory in response to shifts in customer demand as you move further up the supply chain.

Which effect is caused by a distortion of information about the demand for a product as it passes from one entity to the next across the supply chain?

The bullwhip effect is the distortion of information about the demand for a product as it passes from one entity to the next across the supply chain.