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18 terms

CIS Chapter 9 Vocab

STUDY
PLAY
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.