set of integrated modules for applications such as sales and distribution, financial accounting, investment management, production planning, plant maintenance, and human resources that allow date to be used by multiple functions and business processes.
network of organizations and business processes for procuring materials, transforming raw materials into intermediate and finish products, and distributing the finished products to customers
scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished goods shipped as soon as they leave the assembly line.
bull whip effect
distortion of information about the demand for a product as it passes from one entity to the next across the supply chain.
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
determining how much product a business needs to make to satisfy all its customers' demands
supply chain execution systems
systems to manage 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 driven by production master schedules based on forecasts or best guesses of demand for products, and products are "pushed" to customers
supply chain driven by actual customer orders or purchases so that members of the supply chain produce and deliver only what customers have ordered.
method of firm interaction with a customer, such as telephone, e-mail, customer service desk, conventional mail, or point-of-purchase
partner relationship management (PRM)
automation of the firm's relationships with its selling partners using customer data and analytical tools to improve coordination and customer sales
employee relationship management (ERM)
Software dealing with employee issues that are closely related to CRM, such as setting objectives, employee performance management, performance-based compensation, and employee training.
Customer-facing applications, such as sales force automation, call center and customer service support, and marketing automation.
Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance
customer lifetime value (CLTV)
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
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.