Chapter 3 and 4
The Five Steps in the Order-To-Delivery Process
1) Create Campaign - Marketing 2) Place Order, Notify Production, Check Credit - Sales 3) Manufacture Goods - Operations Management 4) Bill Customer - Accounting and Finance 5) Support Sale - Customer Service
Benchmarking
A process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance
Return on Investment (ROI)
A ratio of profit to capital used, or a rate of return from capital.
CRM Reporting Technology
Answers the question 'What happened?'
CRM Analysis Technologies
Answers the question 'Why did that happen?'
What is a management system, as well as a measurement system, that a firm uses to translate business strategies into executable tasks?
Balanced scorecard
Regardless of what process is measured, how it is measured, and whether it is performed for the sake of efficiency or effectiveness, managers must set ________, or baseline values the system seeks to attain.
Benchmarks
What are baseline values the system seeks to attain?
Benchmarks
What is the analysis and redesign of workflow within and between enterprises?
Business process reengineering
core processes
Business processes, such as manufacturing goods, selling products, and providing service, that make up the primary activities in a value chain.
Which of the following are included in CRM prediction technologies?
CRM prediction technologies include what customers are at risk of leaving and which products will our customers buy.
Which of the following are included in CRM reporting technologies? (Check all that apply)
CRM reporting technologies include what is the total revenue by customers, how many units did we make, and what were total sales by product.
Which of the following are MIS-related strategic roles found in an organization?
CSO, CDO, and CIO are common MIS-related strategic roles found in an organization.
Who is responsible for (1) overseeing all uses of MIS and (2) ensuring that MIS strategically aligns with business goals and objectives? (Please use the acronym)
Chief Information Officer
Who determines if a person or business process can be replaced by a robot or software?
Chief automation officer
What allows every department of a company to store and retrieve information in real time allowing information to be more reliable and accessible?
Common data repository
What are business processes, such as manufacturing goods, selling products, and providing service, that make up the primary activities in a value chain?
Core Processes
_________ analytics involves gathering, classifying, comparing, and studying customer data to identify buying trends, at-risk customers, and potential future opportunities.
Customer
__________ involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
Customer relationship management
Netflix launched in the 1990s offering customers
DVDs by mail.
What is continuously changing and provides business solutions to ever-changing business operations?
Dynamic process
What types of metrics measure customer satisfaction?
Effectiveness MIS metrics measure customer satisfaction.
____________ MIS metrics measure the performance of MIS itself, such as throughput, transaction speed, and system availability.
Efficiency
Which metrics measure the performance of MIS itself, such as throughput, transaction speed, and system availability?
Efficiency MIS metrics
_________ Resource Planning integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations.
Enterprise
What integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations?
Enterprise resource planning
CRM analysis technologies
Help organization segment their customers into categories such as best and worst customers
CRM Predicting Technologies
Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving
CRM predicting technologies
Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving
Human Resources
Hiring Employees Enrolling Employees with healthcare Tracking Vacation and Sick time
Which of the following are common financial ratios executives use to monitor business success of strategic initiatives?
IRR, ROI, payback, and break-even analysis are the financial ratios executives use to monitor business success.
Enterprise Resource Planning (ERP)
Integrates all departments and functions throughout an organization into a single system (or integrated set of MIS systems) so that employees can make decisions by viewing enterprise-wide information on all business operations.
Which of the following are common supply chain management metrics executives use to measure the success of its supply chain?
Inventory turnover, customer order actual cycle time, customer order promised cycle time, and back order
Business-facing processes (back-office processes)
Invisible to the external customer but essential to the effective management of the business
Customer Relationship Management (CRM)
Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
Efficiency Metrics
Measure the performance of MIS itself throughput transaction speed system availability information accuracy response time
Efficiency MIS metrics
Measure the performance of MIS itself, such as throughput, transaction speed, and system availability
Metrics
Measurements that evaluate results to determine whether a project is meeting its goals
Effectivness MIS metrics
Measures the impact MIS has on business processes and activities customer satisfaction customer conversation rates Financial Usability
Effectiveness MIS metrics
Measures the impact MIS has on business processes and activities, including customer satisfaction and customer conversation rates
Which of the following companies provide ERP solutions?
Microsoft IBM Sage
Which ERP solution has Walmart implemented?
Microsoft Azure and Microsoft 365
The Five Basic Supply Chain Activities
Plan- prepare to manage all resources required to meet demand Source- build relationships with suppliers to procure raw materials Make- manufacture products and create production schedules Deliver- plan for transportation of goods to customers Return- support customers and product returns
What is a temporary activity a company undertakes to create a unique product, service, or result?
Project
Marketing and Sales
Promoting of discounts Communicating marketing campaigns Attracting customers Processing sales
Key performance indicators (KPIs)
Quantifiable measures of performance used to gauge progress toward strategic objectives or agreed standards of performance.
Chief Knowledge Officer (CKO)
Responsible for collecting, maintaining, and distributing the organization's knowledge
Chief Technology Officer (CTO)
Responsible for ensuring the throughput, speed, accuracy, availability, and reliability of IT
Chief Data Officer (CDO)
Responsible for enterprise-wide governance and utilization of information to maximize the value the organization can realize from its data.
Customer facing process
Results in a product or service that is received by an organization's external customer
What uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously?
Static process
What consists of all parties involved, directly or indirectly, in obtaining raw materials or a product?
Supply chain
What is the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability?
Supply chain management
Select the four primary strategic initiatives for competitive advantages.
Supply chain management Business process reengineering Customer relationship management Enterprise resource planning
How did Netflix know that House of Cards would be popular with its customers?
The analytics provided from the data science indicated that customers would like the show.
Which of the following are the broad functions of a CIO?
The broad functions of a CIO include manager, leader, and communicator.
Critical Success Factors
The crucial steps companies make to perform to achieve their goals and objectives and implement strategies
Critical Success Factors (CSFs)
The crucial steps companies make to perform to achieve their goals and objectives and implement strategies
MIS skills gap
The difference between existing MIS workplace knowledge and the knowledge required to fulfill the business goals and strategies.
Which of the following are included in the five basic supply chain activities? (Check all that apply)
The five activities include plan, source, make, deliver, and return.
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
Key Performance Indicators
The quantifiable metrics a company uses to evaluate progress toward critical success factors Turnover Rates of employees Number f product returns Number of new customers Average customer spending Percentage pf help desk calls answered in the first minute
Business Process
a standardized set of activities that accomplish a specific task, such as processing a customer's order
The ___________ scorecard is a management system, as well as a measurement system, that a firm uses to translate business strategies into executable tasks.
balanced
Industry-Specific Customer-Facing Processes
banking-loan processing insurance-claims processing government-grant allocation hotel-reservation handling airline-baggage handling
benchmarks
baseline values the system seeks to attain
Which of the following are included in customer service metrics?
cases closed same day, number of cases handled by agent, and number of service calls.
A supply ________ consists of all parties involved, directly or indirectly, in obtaining raw materials or a product.
chain
Chief User Experience Officer (CUEO)
creates the optimal relationship between user and technology
Accounting and Finance
creating financial statements paying of accounts payable collecting of accounts receivable
What involves gathering, classifying, comparing, and studying customer data to identify buying trends, at-risk customers, and potential future opportunities?
customer analytics
Chief Automation Officer (CAO)
determines if a person or business process can be replaced by a robot or software
CRM reporting technologies
help organizations identify their customers across other applications
The person responsible for (1) overseeing all uses of MIS and (2) ensuring that MIS strategically aligns with business goals and objectives is the chief ________ officer.
information
sales analytics
involves gathering, classifying, comparing, and studying company sales data to analyze product cycles, sales pipelines, and competitive intelligence
customer analytics
involves gathering, classifying, comparing, and studying customer data to identify buying trends, at-risk customers, and potential future opportunities
Chief Intellectual Property Officer (CIPO)
manage and defend intellectual property, copyrights, and patents
Customer-Facing Processes
order processing customer service Sales process Customer billing order shipping
Operations Management
ordering inventory creating production schedules manufacturing goods
chief sustainability officer (CSO)
oversees the corporation's "environmental" programs such as helping adapt to climate change and reducing carbon emissions
ERP systems
provide management software to help a business enterprise with its core activities.
Chief Security Officer (CSO)
responsible for ensuring the security of MIS systems and developing strategies and MIS safeguards against attacks from hackers and viruses
Chief Information Officer (CIO)
responsible for overseeing all uses of MIS and ensuring that MIS strategically aligns with business goals and objectives
A(n) _________ process uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously.
static
Business-Facing Processes
strategic planning tactical planning budget forecasting training purchasing raw materials
Business Process Reengineering (BPR)
the analysis and redesign of workflow within and between enterprises
best practices
the most successful solutions or problem-solving methods that have been developed by a specific organization or industry
market share
the portion of a market controlled by a particular company or product.
Why did R.A.S. Logistics move to an ERP solution?
to integrate all business processes and allow for transparent data sharing
Static Process
uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously
How does Netflix choose what shows to provide for its viewing audience?
using data analytics models that predict customer behavior
How does Netflix maintain a high customer retention rate?
using data analytics models to determine what customers want to watch analyzing raw data models to assess customer viewing preferences using complex data-mining algorithms
