CIS Chapter 9 Vocab

18 terms by styrene

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Analytical CRM

Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance

Best practices

The most successful solutions or problem=solving methods that have been developed by a specific organization or industry

Bullwhip effect

Distortion of information about the demand for a product as it passes from one entity to the next across the supply chain

Churn rate

Measurement of the number of customers who stop using or purchasing products or services from a company. Used as an indicator of the growth or decline of a firm's customer base.

Cross-selling

Marketing complementary products to customers

Customer lifetime value

Difference between revenues produced by a specific customer and the expenses for acquiring and servicing that customer minus the cost of promotional marketing over the lifetime of the customer relationship, expressed in today's dollars.

Demand planning

Determining how much a product a business needs to make to satisfy all its customers' demands.

Employee relationship management

Software dealing with employee issues that are closely related to CRM, such as setting objectives, employee performance management, performance-based compensation, and employee training.

Enterprise software

Set of integrated modules for applications such as sales and distribution, financial accounting, investment management, materials management, production planning, plant maintenance, and human resources that allow data to be used by multiple functions and business processes.

Just-in-time

Scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished good shipped as soon as they leave the assembly line.

Operational CRM

Customer-facing applications, such as sales force automation, call center and customer service support, and marketing automation.

Partner relationship management

Automation of the firm's relationships with its selling partners using customer data and analytical tools to improve the coordination and customer sales.

Pull-based model

Supply chain driven by actual customer orders or purchases so that members of the supply chain produce and deliver only what customers have ordered.

Service platform

Integration of multiple applications from multiple business functions, business units, or business partners to deliver a seamless experience for the customer, employee, manager, or business partner

Supply chain

Network of organization and business processes for procuring materials, transforming raw materials into intermediate and finished products, and distributing the finished products to customers.

Supply chain execution systems

Systems to manager the flow of products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner.

Supply chain planning systems

Systems that enable a firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product.

Touch point

Method of firm interaction with a customer, such as telephone, email, customer service desk, conventional mail, or point-of-purchase.

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