omis 3500 chap. 9

What does EPR system stand for?

Enterprise resource planning

What is an ERP System?

It collects data from many divisions of firm for use in nearly all of firm for use in nearly all of firm’s internal business activities. Information entered in one process is immediately available for other processes

ERP software is built around what?

thousands of predefined business processes that reflect best practices

ERP helps with what?

Finance and accounting, Human Resources, manufacturing and production, sales and marketing

What’s is the Value of ERP System?

Provide firm wide information to support decision making, enable rapid response to costumer requests for information or products, include analytical tools to evaluate overall organizational performance and improve decision marking

SCM Systems (The supply chain) is what?

Network of organization and processes for procuring materials, transforming materials into products, distributing the products

Safety Stock is?

Buffer for lack of flexibility in supply chain

Bullwhip effect is?

Information about product demand get distorted as it passes from one entity to next across supply chain

Supply chain planning systems…

Model existing supply chain, enable demand planning, optimize sourcing, manufacturing plans, establish inventory levels, identify transportation modes.

Supply chain execution systems

Manage flow of products through distribution centers and warehouses

What is the business value of SCM systems?

Match supply to demand, reduce inventory levels, improve delivery service, speed production time to market. Use assets more effectively, increase sales

How much does SCM Systems cost?

Total supply chain costs can be 75% of operating budget

What are the Global supply chain issues?

Geographical distances, time differences, participants from different countries

What are Issues with participants from different countries?

Different performance standards and different legal requirements

How can internet help with managing global complexities?

Warehouse management, transportation management, logistics, outsourcing

How is AI helpful with supply chain management?

AI is very useful for analyzing the proliferating amount of bug data generated by modern global supply chains to develop more accurate forecasts, reveal operational insights, improve efficiency of storage and transportation processes across vast logistics networks with multiple partners

What does CRM systems stand for?

Costumer relationship management system

What does CRM system do?

Captures integrates costumer data from all over the organization, consolidates and analyzes customer data, distributes costumer information to various systems and costumer touch points across enterprise, and provides a single enterprise view of customer

What does CRM system does for Sales?

Telephone sales, web sales, retail store sales, field sales

What does CRM system does for marketing?

Campaign data, content, and data analysis

What does CRM system does for service?

Call center data, web self service data, mobile data, Feild service data, social network data

CRM systems is…

A commercial CRM system software packages range from niche tools to large scale enterprise applications

What does SFA stand for?

Sales force automation

What does SFA do?

Sales prospects and contact information and sales quote generation capabilities

CRM systems help with costumer service by..

Assigning and managing customer service requests and web based self service capabilities

CRM systems help with marketing by..

Capturing prospect and costumer data, scheduling and tracking direct-marketing mailings or e-mail, cross selling

What is the business value of CRM system?

Increased costumer satisfaction, reduce direct marketing costs, more effective marketing, lower cost for customer acquisitions/retention, increased sales revenue

Churn rate is..

The number of customers who stop using or purchasing products or services from a company and an indicator of growth or decline of firm’s customer base

How does CRM and AI work together?

Machine learning, generative ai and other ai tech. Are being integrated into CRM systems to automate, enhance, and optimize processes. As well add enabling businesses to analyze vast amounts of customer data in real time

what can AI-Driven ERP system can do?

Can identify patterns in very large volumes of data.