IST 305 Final Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
- Supply Chain - CORRECT ANSWERS Network of
organizations and business processes for procuring materials,
transforming raw materials into intermediate and finished products,
and distributing the finished products to customers.
Just-In-Time strategy - CORRECT ANSWERS Strategy that
aims to have components arrive exactly at the moment they are
needed and finished goods shipped as soon as they are manufactured
in order to minimize inventory.
Bullwhip effect - CORRECT ANSWERS Information about
the demand for a product gets distorted as the information passes from
one entity to the next across the supply chain.
Supply Chain Planning System - CORRECT ANSWERS
Enabled the firm to model its existing supply chain, generate
demand forecasts for products, and develop optimal sourcing and
manufacturing plans.
Demand Planning - CORRECT ANSWERS Process by which
a firm determines how much product it needs to make and satisfy all
its customers' demands.
Supply Chain Execution System - CORRECT ANSWERS
Manages the flow of products through distribution centers and
,warehouses to ensure that products are delivered to the right locations
in the most efficient manner.
Push-based model - CORRECT ANSWERS supply,
production, inventory, and stock are all driven by forecasts or best
guesses of demand for products, rather than what the customer orders
Pull-based model - CORRECT ANSWERS actual customer
orders or purchases trigger events in the supply chain
Touch Point - CORRECT ANSWERS A method of interaction
with the customer, such as through telephone, email, customer service
desk, conventional mail, social network, website, mobile device or
retail store.
Sales force automation (SFA) - CORRECT ANSWERS CRM
systems module that helps staff increase productivity by focusing
sales efforts on the most profitable customers.
Cross-selling - CORRECT ANSWERS Marketing
complementary products to customers
Operational CRM - CORRECT ANSWERS Customer-facing
applications, such as tools for sales force automation, call center and
customer service support, and marketing automation.
, Analytical CRM - CORRECT ANSWERS applications that
analyze customer data generated by operational CRM applications to
provide information for improving business performance
Customer lifetime value (CLTV) - CORRECT ANSWERS
based on the relationship between the revenue produced by a
specific customer, the expenses incurred in acquiring and servicing
that customer, and the expected life of the relationship between the
customer and the company
Churn rate - CORRECT ANSWERS measures the number of
customers who stop using or purchasing products or services from a
company
Composable ERP - CORRECT ANSWERS Brings together
disparate systems and components in a way that allows them to work
together as a platform
End of Chapter 9 - CORRECT ANSWERS This is the end of
chapter 9
E-commerce - CORRECT ANSWERS The use of the Internet,
the web, and mobile apps and browsers running on mobile devices to
transact business.
Ubiquitous - CORRECT ANSWERS Available just about
everywhere all the time.
QUESTIONS AND CORRECT ANSWERS
- Supply Chain - CORRECT ANSWERS Network of
organizations and business processes for procuring materials,
transforming raw materials into intermediate and finished products,
and distributing the finished products to customers.
Just-In-Time strategy - CORRECT ANSWERS Strategy that
aims to have components arrive exactly at the moment they are
needed and finished goods shipped as soon as they are manufactured
in order to minimize inventory.
Bullwhip effect - CORRECT ANSWERS Information about
the demand for a product gets distorted as the information passes from
one entity to the next across the supply chain.
Supply Chain Planning System - CORRECT ANSWERS
Enabled the firm to model its existing supply chain, generate
demand forecasts for products, and develop optimal sourcing and
manufacturing plans.
Demand Planning - CORRECT ANSWERS Process by which
a firm determines how much product it needs to make and satisfy all
its customers' demands.
Supply Chain Execution System - CORRECT ANSWERS
Manages the flow of products through distribution centers and
,warehouses to ensure that products are delivered to the right locations
in the most efficient manner.
Push-based model - CORRECT ANSWERS supply,
production, inventory, and stock are all driven by forecasts or best
guesses of demand for products, rather than what the customer orders
Pull-based model - CORRECT ANSWERS actual customer
orders or purchases trigger events in the supply chain
Touch Point - CORRECT ANSWERS A method of interaction
with the customer, such as through telephone, email, customer service
desk, conventional mail, social network, website, mobile device or
retail store.
Sales force automation (SFA) - CORRECT ANSWERS CRM
systems module that helps staff increase productivity by focusing
sales efforts on the most profitable customers.
Cross-selling - CORRECT ANSWERS Marketing
complementary products to customers
Operational CRM - CORRECT ANSWERS Customer-facing
applications, such as tools for sales force automation, call center and
customer service support, and marketing automation.
, Analytical CRM - CORRECT ANSWERS applications that
analyze customer data generated by operational CRM applications to
provide information for improving business performance
Customer lifetime value (CLTV) - CORRECT ANSWERS
based on the relationship between the revenue produced by a
specific customer, the expenses incurred in acquiring and servicing
that customer, and the expected life of the relationship between the
customer and the company
Churn rate - CORRECT ANSWERS measures the number of
customers who stop using or purchasing products or services from a
company
Composable ERP - CORRECT ANSWERS Brings together
disparate systems and components in a way that allows them to work
together as a platform
End of Chapter 9 - CORRECT ANSWERS This is the end of
chapter 9
E-commerce - CORRECT ANSWERS The use of the Internet,
the web, and mobile apps and browsers running on mobile devices to
transact business.
Ubiquitous - CORRECT ANSWERS Available just about
everywhere all the time.
