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K204 Chapter 8, Quiz 6
Flashcards
27
Business
Undergraduate 1
02/21/2012

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Term
What-if Analysis
Definition
Checks the impact of a change in an assumption on the proposed solution
Term
Forecasting
Definition
Estimating seat demand for flights, whether in landing conditions, and estimates for growth or reduction in air travel are all included in forecasting
Term
Operations Management
Definition
The management of systems or processes that convert or transform resources ( including human resources) into goods and services- Responsible for managing the core processes used to manufacture goods and produce services
Term
3 OM strategic business systems
Definition
1. Materials Requirement planning systems
2. Global inventory planning systems
3. Inventory Management and Control Systems
Term
Transformation Process
Definition
Often referred to as the technical core, especially in manufacturing organizations, and is the actual conversion of inputs to outputs
Term
Value-Added
Definition
The term used to describe the difference between the cost of inputs in the value of price of outputs
Term
Decision Support System
Definition
Model information to support managers and business professionals during the decision-making process
Term
Executive Information System
Definition
A specialized DSS that supports senior-level executives within the organization
Term
Operational Planning
Definition
The use of the day-to-day procedures for performing work, including scheduling, inventory, and process management
Term
Materials Requirement Planning
Definition
The primary system used for strategic planning, it uses sales forecast to make sure that needed parts and materials are available at the right time and place in a specific company
Term
Supply Chain
Definition
Consists of all parties involved, directly or indirectly, in the procurement of a product or raw material
Term
Supply Chain Management
Definition
Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
Term
Supply chain management components
Definition
Logistics
Partners
Strategy
Operation
Term
Supply Chain Logistics
Definition
The product delivery processes and elements including orders, where houses, carriers, defective product returns, and invoicing
Term
Supply Chain Partners
Definition
The partners chosen to deliver finished products, raw materials, and services including pricing, delivery, and payment processes along with partner relationship monitoring metrics
Term
Supply Chain Operation
Definition
The schedule for production activities including testing, packaging, in preparation for delivery. Measurements for this component include productivity and quality
Term
Supply Chain Strategy
Definition
The strategy for managing all resources required to meet customer demand for all products and services
Competitive priorities
Term
Customer Relation Management
Definition
Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention in an organization's profitability
Term
3 phases of CRM evolution
Definition
Reporting
Analyzing
Predicting
Term
The 3 primary operational CRM technologies a customer service department can and implement to increase customer satisfaction
Definition
Contact Center
Web-Based Self-Service
Call Scripting System
Term
Contact Center
Definition
Where customer service representatives answer customers inquiries and respond to problems through a number of different customer touch points
Term
Web-Based self-service
Definition
Allows customers to use the web to find answers to their questions were solutions to their problems
Term
Call scripting system
Definition
Access organizational databases that track similar issues or questions and automatically generate the details of the CSR who can then relay them to the customer
Term
Analytical CRM
Definition
Supports back-office operations and strategic analysis and includes all systems that do not deal directly with customers
Term
ERP
Definition
Enterprise Resource Planning–Integrates all departments and functions throughout an organization into a single IT system ( or integrated set of IT systems) so that employees can make decisions by viewing enterprisewide information on all business operations
Term
Core ERP components
Definition
The traditional components included in most ERP systems and they primarily focus on internal operations
Term
3 main Core ERP components
Definition
accounting and finance
production and materials management
human resources
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