IDSC 3001 Quiz B | Tim Olson

Enterprise Resource Planning (ERP)

a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computing platform

Supply Chain Management (SCM)

The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability

Benefits of ERP

- higher productivity

- better insights

- lower risks

- high security

types of ERP implementations

- Cloud ERP

- on premise ERP

- Hybrid ERP

ERP financial components

- general ledger

- accounts payable (AP)

- accounts receivable (AR)

- fixed assets

- tax

- budget

- foreign exchange

- balance sheet

- reporting

ERP Common Processes

- procure to pay

- order to cash

- plan to produce

- field to fork

- hire to retire

hire-to-retire

Also known as human capital management (HCM)

- everything that needs to be done over the course of employment with a company

Field to fork

The name given to the food chain from the start of agricultural production to final consumption

challenges with implementing ERP

- built of predefined business processes, known as best practices

- best practices/standard operating procedures are from vendors point of view

- software may not support all business functions

- risk in using one vendor

- vendors always updating software

SCM 4 processes

- plan

- source

- make

- deliver

SCM - plan

- balance resources with requirements

- align supply chain plan with business financial plan

SCM - source

- identify suppliers

- schedule deliveries

SCM - make

- schedule production

- evaluate quality and performance

- mange work in process

SCM - deliver

- select carriers

- route shipments

- manage warehouses

- invoice customers

SCM - return (phase 5?)

- authorize returns

- schedule returns

- receive returns

- issue return credit

SCM - Walmart example

- SCM system between Wal-Mart and P&G

- when P&G products run low at Wal-Mart locations, P&G is notified

- P&G knows when to make and ship products to Wal-Mart locations

Future of SCM

- AI

- blockchain

- IoT

- Robotics

- Smart Contracts

- agile

capabilities of modern SCM

- orchestration

- responsiveness

- clarity

Customer Relationship Management (CRM)

a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups

business value of CRM

- Improved Customer Satisfaction

- Allows for individualization of marketing activities

- Lower costs for customer acquisition and retention

- Increased revenue from identifying most profitable customers and segments for marketing, cross selling, up selling

- provide a single view of customers

360 degree view of the customer

- A complete data set on each customer consolidated from various functional areas

- Made available to every unit of the business through a data warehouse

Effective CRM examples

- understand customers and their value over a lifetime

- financial institutions track customers life stages to market appropriate banking products

data gathering

The process of collecting facts and figures

first party data

collected by firms with customer directed relationships

Second Party Data

information a company has on you as an intermediary in the transaction

third party data

data on user behavior that is collected or aggregated by one organization and sold to another organization

Examples of customer data sources

in-store sales, online sales, web browsing, social media, customer service department, advertising platforms, web analytics, etc.

data analysis

The process of compiling, analyzing, and interpreting the results of primary and secondary data collection.

customer data is analyzed and used to tailor the experience accordingly

human resource management systems

Interacting database systems that aim at generating and delivering HR information and allow us to automate some human resource management functions

correlate business data and people data

why is remote working popular

- businesses are moving towards cloud technology allowing enterprises to work, store, and share everything in real time

- cloud technology allows for efficiently managed and distributed teams

- ability to work from anywhere

human resource analytics

Applying analytics to HR functions of an organization to improve employee performance. The goal is to correlate business data and people data, to provide insights for decision making

benefits of HRMS

- increased information on employees

- easly and rapidly locate the best candidates, identify and resolve skill shortages, reallocate resources

Starbucks digital transformation example

partnered with Microsoft became customer focused

- recommendations

- product pairings

- AI

- IoT

types of HRMS functions

- payroll

- recruiting

- benefits administration

- training

- performance analysis

- review

what does amazon believe is the success to their business?

- obsession over the customer

- built an in house cam tailored to their specific needs

components of amazons customer obsession

- personal data storage

- data analysis

- recommendation system

- customer interaction

- peer reviews

what is the old model of ERP vs the new ERP model

- old: hardware, on presmise applications

- new: hybrid cloud model. on premise and off premise (cloud) applications are connected

what happened to western digital

- company faced a merger and it was a big challenge for the enterprise

- after the merger, WD wanted to centralize ERP so that all three companies could work well together

What are SCM software and processes integrated with>

ERP systems. SCM applications are reliant on the info stored in ERP software

future of SCM?

- AI

- blockchain

- IoT

- Robotics

Blockchain

A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly

what did the article from oracle refer to this decade as?

- the golden age of HCM

coca cola CRM and Salesforce

- salesforce is the largest CRM vendor in the world

- the company is able to take care of customers as one big team

order to cash

process of selling goods or services and collecting revenue for them

1. order documented

2. order is scheduled

3. order is shipped

4. invoice is created

5. customer sends payment

6. payment is recorded

supply chain meets blockchain

blockchain provides all parties within a respective supply chain with access to the same information, potentially reducing communication or transfer data errors

customer detailed description

companies should create a complete picture of their customers across a comprehensive set of characteristics