Download Definitions, Value, Challenges, and Trends of ERP and CRM Systems and more Quizzes Management Information Systems in PDF only on Docsity! TERM 1 ERP DEFINITION 1 Enterprise Resource Planning Systems: are based on a suite of integrated software modules and a common central database. The database collects data from many different divisions and departments in a firm, and from a large number of key business processes in manufacturing and production, finance and accounting, sales and marketing, and human resources, making the data available for applications that support nearly all of an organizations internal business activi- ties. When new information is entered by one process, the information is made immediately available to other business processes TERM 2 ERP Business Value DEFINITION 2 1. Increase Operational Efficiency2. Provide firm wide information to support decision making3. Enable rapid responses to customer requests for information or products4. Include analytical tools to evaluate overall organizational performance TERM 3 Upstream Supply Chain DEFINITION 3 Firm's supplier's, suppliers' suppliers, process for managing relationships with them TERM 4 Downstream supply chain DEFINITION 4 organizations and processes responsible for delivering products to customers TERM 5 Bullwhip effect DEFINITION 5 Information about product demand gets distorted as it passes from one entity to next across supply chain(think of telephone game) TERM 6 Supply Chain Planning Systems DEFINITION 6 1. Model existing supply chain2. Demand planning (forecasting, sales planning)3. Optimize sourcing, manufacturing plans (MRP)4. Establish inventory levels (inventory control)5. Identifying transportation modes TERM 7 Supply Chain Execution Systems DEFINITION 7 Manage flow of products through distribution centers and warehouses TERM 8 Global Supply chain issues DEFINITION 8 -typically span greater geographic distances and time differences-more complex pricing issues (local taxes, transportation, etc.)-foreign government regulations TERM 9 Pushed-Based Model DEFINITION 9 Build to stock, schedules based on best guesses of demand TERM 10 Pull-Based MOdel DEFINITION 10 Demand driven, customer orders trigger events in supply chain TERM 21 PRM DEFINITION 21 Partner relationship management: integrating lead generation, pricing, promotions, order configurations, and availability.-tools to assess partners' performances TERM 22 ERM DEFINITION 22 Employee relationship management: setting objectives, employee performance management, performance-based compensation, employee training TERM 23 Operational CRM DEFINITION 23 Customer-facing applicationsEx: sales force automation, call center and customer service support, and marketing automation TERM 24 Analytical CRM DEFINITION 24 -Analyze customer data output from operational CRM applications -Based on data warehouses populated by operational CRM systems and customer touch points TERM 25 CRM Business Value DEFINITION 25 1. Increased Customer Satisfaction2. Reduced direct- marketing costs3. More effective marketing4. Lower costs for customer acquisition/retention5. Increased Sales Revenue6. Reduced Churn Rate TERM 26 Churn Rate DEFINITION 26 The number of customers who stop using or purchasing products or services from a company. Indicator of growth or decline of firm's customer base. TERM 27 ERP Challenges DEFINITION 27 1. Highly expensive to purchase and implement2. Technological Changes3. Business process changes4. Organizational changes5. Switching costs, dependence on software vendors6. Data standardization, management, cleansing TERM 28 ERP Trends DEFINITION 28 1. Make applications more flexible, web-enabled, integrated with other systems2. Enterprise suites: software to enable CRM, SCM, and ERP systems to work together and with suppliers and client systems-utilize web services, SOA3. Open source and on-demand solutions4. Mobile compatible; web 2.0 capabilities5. Complementary analytics products
