Enterprise Applications and Management Systems

These flashcards cover key vocabulary and concepts related to enterprise applications, management systems, and their impact on operational excellence and customer intimacy.

Enterprise Resource Planning (ERP) Systems

A suite of integrated software modules and a common central database that collects data from many divisions of a firm for use in internal business activities.

Operational Excellence

Achieving superior operational performance through effective management practices, often enhanced by enterprise systems.

Customer Relationship Management (CRM) Systems

Software that captures and integrates customer data across the organization to provide a single enterprise view of customers.

Supply Chain Management Software

Tools designed to manage supply chain activities, including demand planning, sourcing optimization, and transportation management.

The Bullwhip Effect

A phenomenon where information about product demand is distorted as it passes from one entity to the next across the supply chain.

Just-in-Time Strategy

An inventory strategy where components arrive as needed, to reduce holding costs and increase efficiency.

Push-Based Model

An older supply chain model where production and distribution are based on forecasts rather than actual customer demand.

Pull-Based Model

A modern supply chain model where actual customer orders trigger supply chain events and production.

Customer Lifetime Value (CLTV)

A prediction of the net profit attributed to the entire future relationship with a customer.

Churn Rate

The percentage of customers that stop using a company’s products or services over a specific period.

Operational CRM

Customer-facing applications that support sales force automation, customer service, and marketing activities.

Analytical CRM

CRM systems that analyze customer data to help organizations make data-driven decisions.

Business Process Mapping

The process of defining and documenting business processes, often used when implementing enterprise software.

Safety Stock

Buffer stock held to account for uncertainties in demand or supply, protecting against stockouts.

Cross-Functional Processes

Business processes that involve multiple departments within an organization, such as order fulfillment.

Enterprise Application Challenges

High costs, long implementation times, and the need for business process and technology changes when adopting enterprise applications.

Inventory Optimization

The process of managing inventory levels to minimize costs while ensuring the availability of products.

Business Value of CRM Systems

Includes benefits such as increased customer satisfaction, reduced marketing costs, and increased sales revenue.