BUS 391 Quiz 3

What is at the heart of any ERP system

Database

___________ software generates demand forecasts using statistical tools and forecasting techniques

Demand planning

Accounting, finance, logistics, and production are the primary users of _________ systems

ERP

What is the key word in ERP?

Enterprise

___________________ (EAI) connects the plans, methods, and tools aimed at integrating separate enterprise systems

Enterprise Application Integration

T/F: Back-office operations deal directly with the customer

False

T/F: CRM is a technology based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future

False CRM is a business philosophy, not a technology, based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future

T/F: Supply Chain Management (SCM) has not been able to improve companies' forecasting abilities over the last few years

False SCM has significantly improved companies' forecasting abilities over the last few years

T/F: The customers' customer is upstream in the supply chain

False The customers' customer is downstream in the supply chain

T/F: As the business world increasingly shifts from customer-focus to product-focus, organizations recognize that treating existing customers well is a good source of profitable and sustainable revenue growth

False As the business world increasingly shifts from product-focus to customer-focus, most organizations recognize that treating existing customers well is the best source of profitable and sustainable revenue growth

T/F: Supply chain visibility allows organizations to increase the bullwhip effect

False Supply chain visibility allows organizations to eliminate the bullwhip effect

T/F: The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its suppliers

False The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its customers

T/F: Operational CRM supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers

False This is the definition of Analytical CRM

What is the term that identifies how often a customer purchases items?

Frequency

In Excel, the ________ function will find the rank of any value in any array (ex. the 5th largest value)

LARGE

___________ is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers. During this step, companies must be able to receive orders from customers, fulfill the orders via a network of warehouses, pick transportation companies to deliver the products, and implement a billing and invoicing system to facilitate payments

Logistics

Several different types of software that sit between and provide connectivity for two or more software applications to achieve integration may be referred to as

Middleware

What is the formula that an organization can use to find its most valuable customers

RFM: Recency, Frequency, Monetary value

T/F: Clearly communicate the CRM strategy is the first CRM industry best practice

True

T/F: Information Technology's (IT) primary role is to create integrations or tight process and information linkages between functions within a firm

True

T/F: It can take the FDA months to track a tainted food through the food chain

True

T/F: SCM efforts extend beyond an organization's four walls to influence the entire supply chain including customers, customers' customer, suppliers, and suppliers' supplier

True

T/F: Supply chain management (SCM) improves ways for companies to find the raw components they need to make a product or service, manufacture that product or service, and deliver it to customers

True

T/F: The New York Times has spent the last decade researching core customers to find similarities among groups of readers

True

T/F: The average company spends nearly half of every dollar that it earns on production

True

T/F: The food chain moves from stores and restaurants to distributors, packers, truckers, processors, and farmers

True

T/F: To qualify as an ERP system, it must be flexible, modular and open, and comprehensive, and it must extend beyond the company

True

T/F: When a user enters or updates information in one ERP module, it is immediately and automatically updated throughout the entire system

True

T/F: increased competition makes any organization that is ignoring its supply chain at risk of becoming obsolete

True This is part of the competition factor which drives SCM

What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers? a. Analytical CRM b. Operational CRM c. Personalization d. All of the above e. None of the above

a. Analytical CRM

What is it called when distorted product demand information passes from one entity to the next throughout the supply chain? a. Bullwhip effect b. Demand planning software c. Supply chain planning software d. Supply chain execution software e. None of the above

a. Bullwhip effect

All of the following are SCM industry best practices EXCEPT: a. Listen to signals of market demand and plan accordingly b. Wean employees off traditional business practices c. Be future oriented d. Make the sale to suppliers e. None of the above

a. Listen to signals of market demand and plan accordingly Listen to signals of market demand and plan accordingly is one of the seven principles of supply chain management

What are several different types of software that sit in the middle of and provide connectivity between two or more software applications? a. Middleware b. Enterprise application integration middleware c. Automated business process d. Ebusiness infrastructure e. None of the above

a. Middleware

What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers? a. Customer identification b. Customer segmentation c. Customer frequency d. All of the above e. None of the above

b. Customer segmentation

All of the following are examples of front-office systems EXCEPT: a. Customer service b. Data warehouse c. Sales d. Billing e. None of the above

b. Data warehouse Data warehouse is an example of back-office systems

What represents a new approach to middleware by packaging together commonly used functionality, such as providing prebuilt links to popular enterprise applications, which reduces the time necessary to develop solutions that integrate applications from multiple vendors? a. Middleware b. Enterprise application integration middleware c. Automated business process d. e-business infrastructure e. None of the above

b. Enterprise application integration middleware

What is a current or existing system that will become the base for upgrading or integrating with a new system? a. Middleware b. Legacy system c. Enterprise system d. All of the above e. None of the above

b. Legacy system

What is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers? a. Supply chain execution b. Logistics c. Demand planning d. All of the above e. None of the above

b. Logistics

Which of the following is the name of the financial function that calculates the amount that will go toward principal for a particular period in a mortgage? a. PMT b. PPMT c. IPMT d. FV e. None of the above

b. PPMT

There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you build relationships with suppliers to produce raw materials? a. Plan b. Source c. Make d. Deliver e. Return

b. Source

CRM ____________ technologies is what an organization is performing when it asks questions such as "why was revenue so high?" a. reporting b. analyzing c. predicting d. All of the above e. None of the above

b. analyzing

In term of supply chain visibility, the __________ effect occurs when distorted product demand information passes from one entity to the next throughout the supply chain

bullwhip

Which systems are more important to an organization: a. Only front-office b. Only back-office c. Both front-office and back-office d. Neither front-office or back-office is more important that the other e. None of the above

c. Both front-office and back-office Both, one cannot function without the other

In the Excel, the function that will count the number of non-empty cells is the: a. COUNT b. COUNTIF c. COUNTA d. FREQUENCY e. None of the above

c. COUNTA

CRM allows an organization to accomplish all of the following EXCEPT: a. Provide better customer service b. Make call centers more efficient c. Complicate marketing and sales processes d. Help sales staff close deals faster e. None of the above

c. Complicate marketing and sales processes CRM allows an organization to simplify marketing and sales processes

Which of the following is NOT one of the five basic components of supply chain management? a. Plan b. Source c. Cost d. Deliver e. None of the above

c. Cost Plan, source, make, deliver, and return are the five components of SCM

Which of the following is the top reason why executives are using SCM to manage extended enterprises? a. Inventory reductions/improvements b. Productivity improvements c. Cost control/savings d. Improved visibility into demand/supply e. None of the above

c. Cost control/savings Cost control/savings is the number one reason why executives are using SCM to manage extended enterprises

Which of the following would you find farthest downstream in a typical supply chain? a. Distributor b. Retailer c. Customer's customer d. Supplier's supplier e. None of the above

c. Customer's customer

All of the following are factors driving supply chain management EXCEPT: a. Visibility b. Speed c. Customers d. Competition e. None of the above

c. Customers

Who are the primary users of SCM systems? a. Sales, marketing, customer service b. Accounting, finance, logistics, and production c. Customers, resellers, partners, suppliers, and distributors d. All of the above e. None of the above

c. Customers, resellers, partners, suppliers, and distributors

Which of the following is not one of the CRM business drivers? a. Inventory control b. Increase revenues c. Define information needs and flows d. All of the above e. None of the above

c. Define information needs and flows Define information needs and flows is not a CRM business driver, it is a CRM success factor

What are the primary business benefits of an ERP system? a. Sales forecasts, sales strategies, and marketing campaigns b. Market demand, resource and capacity constraints, and real-time scheduling c. Forecasting, planning, purchasing, material management, warehousing, inventory, and distribution d. All of the above e. None of the above

c. Forecasting, planning, purchasing, material management, warehousing, inventory, and distribution

There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you manufacture products and create production schedules? a. Plan b. Source c. Make d. Deliver e. Return

c. Make

What is the term that defines how much a customer spends on each purchase? a. Recency b. Frequency c. Monetary value d. Reporting e. None of the above

c. Monetary value Monetary value is the term that defines how much a customer spends on each purchase

What most likely occurs when a Web site can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person? a. Operational CRM b. Analytical CRM c. Personalization d. All of the above e. None of the above

c. Personalization

Which of the following is NOT a CRM industry best practice? a. Define information needs and flows b. Build an integrated view of the customer c. Provide better customer service d. Implement in iterations e. None of the above

c. Provide better customer service Provide better customer service is what CRM allows an organization to accomplish, not a CRM industry best practice

Which of the following is the first principle of supply chain management? a. Customize the logistics network and focus intensively on the service requirements b. Listen to signals of market demand and plan accordingly c. Segment customers by service needs and then tailor services to those particular segments d. All of the above e. None of the above

c. Segment customers by service needs and then tailor services to those particular segments

What is the ability to view all areas up and down the supply chain? a. Bullwhip effect b. Demand planning software c. Supply chain visibility d. Supply chain execution software e. None of the above

c. Supply chain visibility

An organization is applying CRM ____________ technologies when it asks questions such as "which customers are at risk of leaving?" a. reporting b. analyzing c. predicting d. All of the above e. None of the above

c. predicting

Supply chain management is the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and __________ profitability

corporate

DSSs allow managers to examine performance and relationships over the supply chain and among: a. Suppliers b. Transportation options c. Other factors that optimize supply chain performance d. All of the above e. None of the above

d. All of the above

Today, SCM systems focus on extending beyond an organization's four walls to influence: a. Suppliers b. Suppliers' suppliers c. Customers' customers d. All of the above e. None of the above

d. All of the above

Which of the following describes ERP systems? a. ERP systems provide a foundation for collaboration between departments b. ERP systems enable people in different business areas to communicate c. ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization's performance d. All of the above e. None of the above

d. All of the above

Which of the following is a reason for ERP's explosive growth? a. ERP is a logical solution to the mess of incompatible applications b. ERP addresses the need for global information sharing and reporting c. ERP is used to avoid the pain and expense of fixing legacy systems d. All of the above e. none of the above

d. All of the above

Which of the following occurs when everyone involved in sourcing, producing, and delivering the company's product works with the same information? a. Eliminates redundancies b. Cuts down wasted time c. Removes misinformation d. All of the above e. None of the above

d. All of the above

Which of the following occurs when everyone involved in sourcing, producing, and delivering the company's product works with the same information? a. Eliminates redundancies b. Cuts down wasted time c. Removes misinformation d. All of the above e. None of the above

d. All of the above

Which of the following represents operational CRM? a. Supports traditional transactional processing b. Supports day-to-day front-office operations c. Supports operations that deal directly with the customers d. All of the above e. None of the above

d. All of the above

Which of the following statements is accurate? a. DSSs assist decision makers in the design and operation of integrated supply chains b. DSSs identify opportunities for improvements across the supply chain c. DSSs identify opportunities for improvement beyond the intuition and insights of even the most experience managers d. All of the above e. None of the above

d. All of the above

What can analytical CRM modeling tools discover? a. Identify opportunities for expanding customer relationships b. Identify opportunities for cross-selling. c. Identify opportunities for up-selling. d. All of the above e. None of the above

d. All of the above Analytical CRM modeling tools can identify opportunities for cross-selling, up-selling, and expanding customer relationships

Analytical CRM tools can slice-and-dice customer information to create made-to-order views of: a. Customer value b. Customer spending c. Customer product affinities d. All of the above e. None of the above

d. All of the above Analytical CRM tools can slice-and-dice customer information to create made-to-order views of customer value, spending, product affinities, percentile profiles, and segmentations

What does the average company spend on production needs? a. Almost 10 percent of every dollar that it earns b. Almost 20 percent of every dollar that it earns c. Almost 40 percent of every dollar that it earns d. Almost 50 percent of every dollar that it earns e. None of the above

d. Almost 50 percent of every dollar that it earns The average company spends nearly half of every dollar that it earns on production needs

What is the top CRM business driver? a. Inventory control b. Increase revenues c. Competitive advantage d. Automation/productivity/efficiency e. None of the above

d. Automation/productivity/efficiency

What is the Excel function that would be used to count the number of occurrences of the word "yes" in an array? a. COUNTA b. COUNT c. IF d. COUNTIF e. None of the above

d. COUNTIF

There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you plan for transportation of goods to customers? a. Plan b. Source c. Make d. Deliver e. Return

d. Deliver

All of the following are principles of supply chain management EXCEPT: a. Customize the logistics network and focus intensively on the service requirements b. Listen to signals of market demand and plan accordingly c. Segment customers by service needs and then tailor services to those particular segments d. Make the sale to suppliers e. None of the above

d. Make the sale to suppliers Make the sale to the suppliers is part of the SCM industry best practices

Which of the following is not one of the main links in the supply chain? a. Materials flow from suppliers and their upstream suppliers at all levels b. Transformation of materials into semifinished and finished products, or the organization's own production processes c. Distribution of products to customers and their downstream customers at all levels d. Materials flow from customers and their downstream customers at all levels e. None of the above

d. Materials flow from customers and their downstream customers at all levels

Which of the following would you find farthest upstream in a typical supply chain? a. Distributor b. Retailer c. Customer's customer d. Supplier's supplier e. None of the above

d. Supplier's supplier

The FDA does not require ________ to keep records of where food is sourced in the food supply chain

distrubutors

Customer Relationship Management enables companies to do which of the following: a. Provide better customer service and make call centers more efficient b. Cross sell products more effectively and help sales staff close deals faster c. Simplify marketing and sales processes d. Discover new customers and increase customer revenues e. All of the above

e. All of the above

IT factors driving Supply Chain Management include all of the following EXCEPT: a. Visibility b. Speed c. Consumer Behavior d. Competition e. None of the above

e. None of the above All of these are factors driving SCM

All of the following are included in the food supply chain EXCEPT: a. stores and restaurants b. packers and distributors c. truckers d. All of the above e. None of the above

e. None of the above The food chain moves from stores and restaurants to distributors, packers, truckers, processors, and farmers

Which of the following is the first SCM industry best practice? a. Be future oriented b. Listen to signals of market demand and plan accordingly c. Wean employees off traditional business practices d. All of the above e. None of the above

e. None of the above Make the sale to the suppliers is part of the SCM industry best practices

Typically, the most problematic step in the supply chain is: a. Plan b. Source c. Make d. Deliver e. Return

e. Return Return is typically the most problematic step in the supply chain. Companies must create a network for receiving defective and excess products and support customers who have problems with delivered products

To qualify as a true ERP solution, the system must be __________, modular, and open and extend beyond the company

flexible

In the 'Make' step during the basics of Supply Chain, companies ___________ their products or services. This can include scheduling the activities necessary for production, testing, packaging, and preparing for delivery. This is by far the most metric-intensive portion of the supply chain, measuring quality levels, production output, and worker productivity

manufacture

Traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers are supported by ______________ CRM

operational

In Excel, a _______ table is used to summarize a spreadsheet containing large amounts of data

pivot

In the Basics of Supply Chain, a company must have a ________ for managing all the resources that go towards meeting customer demand for products or services. It is crucial to develop a set of metrics to monitor the supply chain so that it is efficient, costs less, and delivers high quality and value to customers

plan

The food supply chain is missing a uniform system of _______ keeping that tracks each of the specific ingredients and where they began and ended

record

An organization can identify its customers across applications by using CRM ____________ technologies

reporting Reporting helps an organization identify its customers across applications

In the Basics of Supply Chain, companies must carefully choose reliable ________ that will deliver goods and services required for making products. Companies must also develop a set of pricing, delivery, and payment processes and create metrics for monitoring and improving the relationships

suppliers

The _____________ consists of all parties involved, directly or indirectly, in obraining raw materials or a product

supply chain

CRM is both a(n) ______________ and ______________

technology; strategy

The supply chain has three main links. First, materials flow from suppliers and their "_________" suppliers at all levels; Second, _________ of materials into semifinished and finished products through the organization's own production process; Third, _________ of products to customers and their "downstream" customers at all levels

upstream; transformation; distribution

Supply chain ________ is the ability to view all areas up and down the supply chain

visibility