CH 3 CIS 2200 BARUCH 100% SOLVED 2023

Workflow tasks, activities, and responsibilities require to execute each steps in a business process Business Process Reengineering (BRP) analysis n redesign of workflow within n between enterprises BPR Goals maintain competitive advantage maintain firm's value chain create value for customers Customer-facing processes (Front-office processes) results in a product or service received by an organization's external customers Fulfilling orders, communication w customers, n sending out bills n marketing information Business-facing processes (Back-office processes) Invisible to the external customer but essential to the effective management of business Goal-setting, day-to-day planning, giving performance feedback n rewards Supply Chain Management Management of information flows between n among activities in a supply chain to maximize total supply chain effectiveness n corporate profitability Goal of SCM Manage n enhance relationships with the primary goal of creating fast, efficient, and low-cost network of business relationships that take products from concept to market Supply Chain includes all parties involved , directly, or indirectly, in obtaining raw materials/ a product Five basic supply chain Plan, Source, Make, Deliver, Return Benefits of effective n efficient SCM system -Decrease the power of its buyers -Increase its own supplier power -Increase switching costs to reduce the threat of substitute products/services -Create any barriers thereby reducing threat of new entrants -Increase efficiencies while seeking a competitive advantage through cost leadership Customer Relationship Management managing all aspects of a customers' relationship with an organization to increase customer loyalty n retention n an organization's profitability -allows organization to gain insights into customer' behavior in order to implement enterprise wide strategies -tracks communication w customers n provides access to CRM info to different systems RFM formula Recency, frequency, monetary value 3 phrases of CRM -Reporting technologies: helps organizations IDENTIFY their customers across other applications -Analysis technologies: help organizations SEGMENT their customers into categories such as best n worst customers -Predicting Technologies: help organizations PREDICT customer behavior Enterprise Resource PLanning (ERP) Integrates all depts n function