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IST 202 chapter 8
Terms in this set (72)
The term ________ is commonly used to refer to a collection of companies and processes involved in moving a product from the suppliers of raw materials to the customer
Companies using this strategy are trying to optimize their ordering quantities such that parts or raw material arrive just when they are needed for production.
Which of the following statements about just-in-time strategies is true?
________ is a business model in which the suppliers to a manufacturer manage the manufacturer's inventory levels based on preestablished service levels.
To make VMI possible, the manufacturer allows the supplier to monitor stock levels and ongoing sales data.
Which of the following statements about vendor-management inventory (VMI
One major problem affecting supply chains are ripple effects referred to as
just-in-time inventory management system
Computer maker, Dell, realized the problems with keeping large inventories, especially because of the fast rate of obsolescence of electronics components. Dell now keeps only about two hours of inventory in its factories. The company is most likely using a ________.
Agis Corp. is taking measures to ensure that the information shared with MaxSteel will not be shared outside their organization.
MaxSteel Inc., has been supplying steel to a well-known car manufacturer, Agis Corp., for the past 3 years. Concerned employees at MaxSteel can directly access Agis Corp.'s inventory and sales information via electronic data interchange. This allows MaxSteel to monitor Agis Corp.'s inventory levels on a real-time basis. The system has worked well for both companies so far and there has never been any delay in the supply of steel. Which of the following, if true, would most strengthen Agis' supply chain strategy?
a product recall
Fen-phen was an anti-obesity medication that consisted of two drugs: fenfluramine and phentermine. Fenfluramine was initially marketed by American Home Products, but was shown to cause potentially fatal pulmonary hypertension and heart valve problems. This eventually led to the withdrawal of the product and legal damages of over $13 billion. This is an example of ________.
the bullwhip effect
La Belle Inc. introduced a new line of accessories for teenaged girls last season. Following its immense popularity with the targeted group, the company anticipated high sales this season. It ordered raw materials accordingly, and even ensured that they had sufficient inventory to meet excess demand, if any. However, the success of the new line turned out to be a fad, as the teens soon turned to other products offered by competing brands, and La Belle's sales declined. This forecasting error caused a huge discrepancy in the amount of raw materials they needed and the amount of inventory they had already piled up in anticipation of good sales. This is an example of ________.
accelerating product development and innovation
Which of the following is the main objective of information systems that focus on improving supply chains?
to optimize the allocation of available supply to meet demand
Which of the following is the key use of the distribution planning module of supply chain management?
provide answers to customer relationship management queries regarding product availability, costs, and delivery times
The key use of the order promising module of supply chain management is to
support production processes taking into account capacity and material constraints
The key use of the manufacturing execution module of supply chain management is to ________.
Supply chain planning
________ involves the development of various resource plans to support the efficient and effective production of goods and services.
product demand planning and forecasting
Supply chain planning begins with ________.
Demand planning and forecasting leads to the development of the overall ________.
________ focuses on delivering products or services to consumers as well as warehousing, delivering, invoicing, and payment collection.
Distribution planning leads to the development of the overall ________.
focuses on the coordination of all activities needed to create the product or
Production scheduling ________.
Using analytical tools to optimally utilize labor, materials, and equipment is a part of the ________ step of supply chain planning.
leads to the development of a sourcing plan
Inventory and safety stock planning ________.
Inventory and safety stock planning leads to the development of a(n)
involves the management of product flow, information flow, and financial
Supply chain execution ________.
It refers to the movement of goods from the supplier to production, from production to distribution, and from distribution to the consumer.
Which of the following statements is true about product flow, a key element of supply chain execution?
The key element to the information flow is the complete removal of paper documents
Which of the following statements is true about information flow, a key element of supply chain execution?
Which of the following key elements of a supply chain execution includes information related to payment schedules, consignment, and ownership of products and materials
Supply chain visibility
________ refers not only to the ability to track products as they move through the supply chain but also to foresee external events.
Supply chain analytics
________ refers to the use of key performance indicators to monitor performance of the entire supply chain, including sourcing, planning, production, and distribution.
Supply chain efficiency
________ is the extent to which a company's supply chain is focusing on minimizing procurement, production, and transportation costs, sometimes by sacrificing excellent customer service.
Supply chain effectiveness
________ is the extent to which a company's supply chain is focusing on maximizing customer service with lesser focus on procurement, production, and transportation
Apple sources its raw materials in ways that keep its costs low.
Which of the following is an example of supply chain efficiency?
supply chain efficiency
Lee's department store uses the every day low prices strategy. This strategy hinges upon the store's ability to obtain consumer goods at the cheapest possible price and pass these savings on to consumers. Lee's store also developed its own distribution network for supplying its retail outlets with consumer goods. This distribution network allowed them to cut out external suppliers and middlemen, further driving down business costs. This implies that the competitive strategy used by this store would most likely focus on ________.
supply chain effectiveness
Comptel, a world leader in computer hardware, differentiates itself from its competitors by providing excellent after-sales service. This implies that the competitive strategy used by Comptel would most likely focus on ________.
to portray a positive corporate image
Which of the following is a main objective of customer relationship management applications focusing on downstream information flows?
learning how each customer defines product and service quality so that customized product, pricing, and services can be designed or developed collaboratively
Which of the following portrays the individualized service benefit of a CRM system
tracking customer behavior over time that helps to identify future opportunities for product and service offerings
Which of the following portrays the improved product development benefit of a CRM system?
Web-based interfaces that provide product information, sales status, support information, issue tracking, and so on
Which of the following examples portrays the 24/7/365 operation of a CRM system
providing mechanisms for managing and scheduling sales follow-ups to assess satisfaction, repurchase probabilities, time frames, and frequencies
Which of the following examples explains the improved planning benefit of using a CRM system?
________ includes the systems used to enable customer interaction and service
Operational CRM systems
________ help create the mass e-mail marketing campaigns wherein each consumer receives an individualized e-mail based on their prior purchase history.
sales force automation
Which of the following is a component of the operational CRM system?
data mining and visualization
Which of the following is a component of the analytical CRM system?
technologies to facilitate communication
Which of the following is a component of the collaborative CRM system?
Sales force automation
________ is the first component of an operational customer relationship management that supports a broad range of business processes, including tracking and managing customer history and preferences, account and contact management, and order processing and tracking.
________ focuses on studying customer behavior and perceptions in order to provide the business intelligence necessary to identify new opportunities and to provide superior customer service.
Organizations that effectively utilize ________ can more easily customize marketing campaigns from the segment level to even the individual customer.
price, quality, and satisfaction analysis of competitors
Which of the following business processes can be enhanced by the analytical CRM system?
________ refers to systems for providing effective and efficient communication with the customer from the entire organization.
Collaborative CRM systems
________ facilitate the sharing of information across the various departments of an organization in order to increase customer satisfaction and loyalty.
EDI refers to computer-computer communication without any human intervention.
The flow of materials from suppliers to customers can be described as a supply network.
The primary use of extranets in organizations is for managing their supply chains.
Just-in-time is a business model in which the suppliers manage the manufacturer's inventory based on preestablished service levels.
One major problem affecting supply chains are ripple effects referred to as the multiplier effect.
Supply chain management improves the coordination of suppliers, product or service production, and distribution.
Supply chain management is primarily used to optimize business processes within the organization.
The efficiency of an SCM system is independent of the data entered into it.
Supply chain execution involves the development of various resource plans to support the efficient and effective production of goods and services.
Supply chain efficiency is the extent to which a company's supply chain is focusing on maximizing customer service regardless of procurement, production, and transportation costs.
Supply chain effectiveness is the extent to which a company's supply chain is focusing on minimizing procurement, production, and transportation costs sometimes by sacrificing excellent customer service.
Supply chain management systems allow users to make trade-offs between efficiency and effectiveness for individual components or raw materials.
Although RFID tags contain more information than bar codes, they require time-consuming hand scanning.
Customer relationship management systems collect data that can be mined to discover the next product line extension that consumers covet.
Rather than engaging in conversations with their customers, organizations need to start seeing customers as an audience.
Customer relationship management applications are commonly integrated with a comprehensive enterprise resource planning implementation to leverage internal and external information to better serve customers.
Customer relationship management allows organizations to focus on driving revenue as well as on reducing costs, as opposed to emphasizing only cost cutting.
Operational customer relationship management system refers to the systems used for providing effective and efficient communication with the customer from the entire organization.
In an operational CRM, marketing, sales, and support personnel see only current interactions with the customer depending on where it occurred within the organization.
Customer service and support, the second component of an operational CRM, refers to systems that support the day-to-day sales activities of an organization.
Sales force automation improves the effectiveness of the marketing function by providing an improved understanding of market conditions, competitors, and products.
A collaborative customer relationship management system supports customer communication and collaboration with the entire organization, thus providing more streamlined customer service with fewer handoffs.
Collaborative customer relationship management enhances communication by understanding customer history and current needs.
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