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Management Information Systems > Chapter 8: Enterprise Applications - Business Communications > Flashcards

Chapter 8: Enterprise Applications - Business Communications Flashcards

1
Q

What are the two primary types of integration?

A

Application integration - integration of a company’s existing management information systems
Data integration - integration of data from multiple sources, which provides a unified view of all data

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2
Q

What are the 2 common methods for integrating databases (applications and/or data)?

A
  1. Forward integration - sends information entered into a given system automatically to all downstream systems and processes
  2. Backward integration - sends information to upstream processes and systems
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3
Q

What does a common data repository do?

A

Allows every department of a company to store and retrieve information in real time, allowing information to be more reliable and accessible.

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4
Q

What do enterprise systems provide?

A

Enterprisewide support and data access for a firm’s operations and business processes. These systems can manage customer information across the enterprise, letting you view everything your customer has experienced.

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5
Q

What is Enterprise Application Integration (EAI)?

A

Connects the plans, methods, and tools aimed at integrating separate enterprise systems.

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6
Q

What are/is middleware?

A

Several types of software that sit between and provide connectivity for two or more software applications.

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7
Q

What are the 3 primary Enterprise Systems?

A
  1. Supply chain management
  2. Customer relationship management
  3. Enterprise resource planning
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8
Q

What are the 5 basic supply chain activities a company undertakes to manufacture/distribute products?

A
  1. Plan - prepare to manage resources
  2. Source - relationships with suppliers, procurement
  3. Make - manufacture
  4. Deliver - plan for transportation of goods
  5. Return - support customers and product returns
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9
Q

What is the primary goal of supply chain management (SCM)?

A

Creation of a fast, efficient, and low-cost network of business relationships that take products from concept to market.

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10
Q

What are the 3 main business processes that supply chain management performs?

A
  1. Materials flow from suppliers and their upstream suppliers at all levels
  2. Materials are transformed into semifinished and finished goods
  3. Products are distributed to customers and downstream customers
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11
Q

What is optimization analysis?

A

An extension of goal-seeking analysis. Finds the optimum value for a target variable by repeatedly changing other variables subject to specified constraints.

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12
Q

What is the bullwhip effect?

A

Occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain.

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13
Q

What are the 3 supply chain optimization models that ensure the bullwhip effect does not exist?

A
  1. Supply chain optimization - defines, recommends, and sets flexible supply chain strategies based on operations and resources.
  2. Inventory optimization - provides visibility across inventory levels through the supply chain.
  3. Transportation and logistics optimization - focuses on the efficient movement of products through effective transportation management.
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14
Q

How can blockchain revamp supply chain management?

A

Blockchain could effectively store records for every product.

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15
Q

What is electronic data interchange (EDI)?

A

Current standard format for the electronic exchange of information between supply chain participants.

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16
Q

What are the 3 business areas of supply chain management?

A

Procurement, Logistics, Materials Management

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17
Q

What are the 2 primary methods used in 3D printing?

A
  1. Computer-aided design (CAD) - used to create precision drawings or technical illustrations
  2. Computer-aided manufacturing (CAM) - used to facilitate and automate manufacturing processes
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18
Q

The growth of the maker movement is often attributed to the rise of…?

A

Makerspaces

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19
Q

What is 4D printing?

A

Additive manufacturing that prints objects capable of transformation and self-assembly.

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20
Q

How is RFID EPC (electronic product code) different from RFID?

A

Promotes serialization or the ability to track individual items by using the unique serial number associated with each RFID tag. An RFID EPC tag can allow item-level tracking, example: identifying when a specific item passes its expiration date.

21
Q

What is Customer Relationship Management?

A

CRM involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability.

22
Q

What is the RFM formula?

A

Recency, frequency, monetary value.

23
Q

What is uplift modeling?

A

A form of predictive analytics for marketing campaigns that attempts to identify target markets or people who could be convinced to buy products.

24
Q

What does the “uplift” in uplift modeling refer to?

A

The increased sales that can follow after this form of CRM analysis.

25
Q

What are the 3 phases in the evolution of CRM?

A
  1. Reporting - CRM reporting technologies help organizations identify customers across other applications.
  2. Analyzing - technologies help segment customers into categories such as “best and worse”.
  3. Predicting - technologies help predict customer behaviour.
26
Q

What is Operational CRM?

A

Supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers.

27
Q

What is Analytical CRM?

A

Supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers.

28
Q

What is CSS?

A

Customer Service and Support - part of operational CRM that automates service requests, complaints, product returns, and information requests

29
Q

What does Sales force automation (SFA) do?

A

Automatically tracks all steps in the sales process.

30
Q

What are the 3 primary operational CRM technologies a sales department can adopt?

A
  1. Sales management CRM
  2. Contact management CRM
  3. Opportunity management CRM
31
Q

What is FCR?

A

First call resolution - properly addressing the customer’s need the first time they call.

32
Q

What is a call scripting system?

A

Gathers product details and issue resolution information that can be automatically generated into a script for the representative to read to the customer.

33
Q

What are omnichannel analytics?

A

Combines data from different channels into one holistic view of the customer and analyzes the data for insights on the customer.

34
Q

How does customer profitability differ from customer lifetime value?

A

Customer profitability measures the customer’s worth over a specific period of time. Customer lifetime value is a metric that represents the total net profit a company makes from any given customer.

35
Q

How does an intelligent virtual agent differ from a chatbot?

A

The virtual agent is like a chatbot, but is an animated humanlike graphical version that can provide customer service, product information, marketing, support, etc.

36
Q

What do analytical CRM tools do?

A

Cut up vast amounts of information to create custom views of customers, products, and market segments. It provides customer segmentation.

37
Q

What is customer segmentation?

A

Dividing a market into categories that share similar attributes such as age, location, gender, habits, etc.

38
Q

What is Enterprise Resource Planning (ERP)?

A

Integrates all departments and functions throughout an organization into a single MIS system or integrated set of MIS systems so employees can make decisions by viewing enterprisewide information about all business operations.

39
Q

What are the two key components of an ERP system?

A

Common data repository - allows every department to store and retrieve information in real time.
Module software design - divides the system into a set of functional units that can be used independently or combined with other modules for increased business flexibility.

40
Q

Why have typical ERP solutions only penetrated 15-20% of most organizations?

A

ERP solutions have fallen short of promises to capture all information onto one true enterprise system with the ability to touch all business processes within the organization. Knowledge still resides in silos maintained by a select few.

41
Q

What are the benefits of ERP for employees?

A

Enterprisewide integration, real-time operations, common database, consistent look and feel.

42
Q

What are the 3 most common core ERP components?

A
  1. Accounting and finance ERP components
  2. Production and materials management ERP components
  3. Human resources ERP components
43
Q

What are the 4 most common extended ERP components?

A
  1. Business intelligence
  2. Customer Relationship Management
  3. Supply Chain Management
  4. Ebusiness
44
Q

What are the 2 primary forces driving ERP failure?

A

Software customization and ERP costs.

45
Q

Do benefits from an ERP system occur right away?

A

Take 8 to 18 months on average to see any benefits from the implementation of an ERP system.

46
Q

What are the various costs associated with an ERP system?

A

Software costs, consulting fees, process rework, customization, integration, testing, training, data warehouse integration and data conversions to move data from an old system to the new system.

47
Q

What is a legacy system?

A

Old system that is fast approaching or beyond the end of its useful life within an organization.

48
Q

What is a term used to describe on-premise ERP, SCM, and CRM systems?

A

Legacy systems.

49
Q

Why do smaller organizations tend to gravitate towards the cloud over larger organizations?

A

Smaller organizations find it easier to change business processes to fit the software. Larger organizations want greater levels of control over their enterprise applications.

Management Information Systems (8 decks)

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