Chapter 11 Customer Relationship Management and SCM (Final Exam)

analytical CRM system
CRM system that analyzes customer behavior and perceptions in order to provide actionable business intelligence
bullwhip effect
erratic shifts in orders up and down the supply chain
bundling
a form of cross selling where an enterprise sells a group of products or services together at a lower price than the combined individual price of the products
campaign management applications
CRM applications that help organizations plan marketing campaigns that send the help organizations plan marketing campaigns that send the right messages to the right people through the right channels
collaborative CRM system
a CRM system where communications between the organization and its customers are integrated across all aspects of marketing, sales, and customer support processes
cross selling
the practice of marketing additional related products to customers based on a previous purchase
customer-facing CRM applications
areas where customers directly interact with the organization, including customer service and support, sales force automation, marketing, and campaign management
customer interaction center (CIC)
A CRM operation where organizational representatives use mulitple communication channels to interact with customers in functions such as inbound teleservice and outbound telesales
customer relationship management (CRM)
a customer focused and customer-driven organizational strategy that concentrates on addressing customers’ requirements for products and services, and then providing high-quality, responsive service
customer-touching CRM applications (also called e-CRM)
applications and technologies with which customers interact and typically help themselves
customer touch point
any interaction between a customer and an organization
distribution portals
corporate portals that automate the business processes involved in selling or distributing products from a single supplier to multiple buyers
electronic data exchange (EDI)
a communication standard that enables the electronic transfer of routine documents between business partners
extranets
networks that link business partners over the internet by providing them access to certain areas of each other’s corporate intranets
front-office processes
those processes that directly interact with customers; that is, sales, marketing and service
interorganizational information system (IOS)
an information system that supports information flow among two or more organizations
inventory velocity
the speed at which a company can deliver products and services after receiving the materials required to make them
just-in-time (JIT) inventory system
a system in which a supplier delivers the precise number of parts to be assembled into a finished product at precisely the right time
loyalty program
programs that offer rewards to customers to influence future behavior
mobile CRM system
an interactive CRM system where communications related to sales, marketing, and customer service activities are conducted through a mobile medium for the purpose of building and maintaining customer relationships between an organization and its customers
on-demand CRM system
a CRM system that is hosted by an external vendor in the vendor’s data center
open-source CRM system
CRM software whose source code is available to developers and users
operational CRM system
the component of CRM that supports the front-office business process that directly interact with customers
procurement portals
corporate portals that automate the business processes involved in purchasing or procuring products between a single buyer and multiple suppliers
pull model
a business model in which the production process begins with a customer order and companies make only what customers want, a process closely aligned with mass customization
push model
a business model in which the production process beings with a forecast, which predicts the productions that customers will want as well as the quantity of each products
sales force automation (SFA)
the component of an operational CRM system that automatically records all the aspects in a sales transaction process
supply chain
the coordinated movement of resources from organizations through conversion to the end consumer
supply chain management (SCM)
an activity in which the leadership of an organization provides extensive oversight or the partnerships and processes that compose the supply chain and leverages these relationships to provide an operational advantage
supply chain visibility
the ability of all organizations in a supply chain to access or view relevant data on purchased materials as these materials move through their suppliers’ production processes
up selling
a sales strategy where the organizational representative provides to customers the opportunity to purchase higher-value related products or services in place of, or along with the consumer’s initial product or service selection
vendor-managed inventory (VMI)
an inventory strategy where the supplier monitors a vendor’s inventory for a product or group of products and replenishes products when needed
vertical integration
strategy of integrating the upstream part of the supply chain with the internal part, typically by purchasing upstream suppliers, in order to ensure timely availability of supplies