Supply Chain Management and Related Concepts

A collection of flashcards covering key vocabulary and concepts from the lecture notes on Supply Chain Management, CRM, ERP, Digital Business, and Project Management.

Supply Chain Management (SCM)

Managing the flow of goods, information, and money from raw materials to customers.

Supply chain optimization

Improving efficiency and cost across the supply chain.

Inventory optimization

Keeping the right amount of stock to meet demand without excess.

Transportation and logistics optimization

Making shipping and delivery faster and cheaper.

Supply chain visibility

Ability to track products and data across the supply chain.

Blockchain in Supply Chain

A technology used to increase transparency and security by tracking provenance and preventing fraud.

Smart contracts

Self-executing digital agreements that automate processes.

Procurement

Buying goods and services.

Logistics

Moving and storing goods.

3D Printing

Creating objects layer by layer digitally.

Customer Relationship Management (CRM)

Strategies and technologies to manage a company's interactions with current and potential customers.

Operational CRM

Manages daily customer interactions.

Analytical CRM

Uses data to improve decisions regarding customer interactions.

E-business

All digital business activities.

Digital Darwinism

Technology-driven change forcing businesses to adapt.

Disruptive technology

New technology that replaces or significantly alters existing technology.

B2B

Business to business transactions.

B2C

Business to consumer transactions.

Synchronous communication

Real-time communication that happens simultaneously.

Metcalfe’s Law

The value of a network grows exponentially as more users join.

Systems Development Life Cycle (SDLC)

Process for building information systems consisting of several phases.

Waterfall method

A linear approach to project management where each phase must be completed before the next begins.

Agile methodology

A flexible approach to project management that emphasizes collaboration and customer feedback.

Tangible benefits

Measurable gains from a project, such as increased revenue or reduced costs.

Intangible benefits

Hard-to-measure gains from a project, such as improved customer satisfaction.