final Flashcards
What is an ERP?
- Enterprise resource planning: collects data from many divisions (departments) of a firm for use
- For internal business activity (information is available immediately for other processes)
What is enterprise software and who are the big names in this space?
- Computer application that helps companies with predefined business softwares such as finance and accounting/ sales and marketing/ manufacturing/ production
- Microsoft, adobe, dropbox, google, oracle.
How are enterprise systems used and what are their characteristics?
Increase operational efficiency, provide firm wide information to support decision making, enable rapid responses to customers request, and include analytical tools, minimizes time and cost spend in inventory
What is a supply chain? (recall the in-text graphic)
Network of organizations and business producing raw materials into finished products and distributing them
supplier-> manufacturer->distributor->retailer->customer
What are the upstream and downstream components of a supply chain?
Upstream: primary suppliers and supplier’s suppliers: goes from tier 3 to tier 1 (3 being the rawest supplies)
Downstream: distributor and retailers
What is the bullwhip effect and how have we seen that play out in the current logistics?
Info about a product demand gets distorted as it passes through the entities of a supply change
- A slight increase in demand might give a suppliers supplier too much inventory
What is an SCM? What are its components?
Supply chain management
- Manage flow of products through distribution centers and warehouses
- Components: model existing supply chain, enable demand planning, optimize sourcing and manufacturing plants, establish inventory levels, identify transportation models.
What do we mean by “friction” in enterprise systems?
A barrier to customers to buy products/growth
What is “just-in-time” inventory?
components arrive as they are needed
What is “safety-stock?”
Buffer for lack of flexibility in supply chain
What is the difference between push-based and pull-based supply chain models?
- Push based (build to stock)-scheduled based on best guesses of demand (nike)
- Pull based (demand driven): customer orders triggering events (business in dorm)
What are touch points in the digital marketing realm?
Method of interaction with customers such as telephone, email, or service desk.
What is the difference between an exchange, a marketplace, a market space and a private industrial network?
Exchange: third party net markets that connect suppliers and buyers
Marketplace: single, digital market place based on industry technology for suppliers and sellers
Market space:
Private industrial network: large firm using secure website to link its suppliers and other key business partners
What is disintermediation and what are its effects?
Removal of organizations or business process responsible for intermediary steps in a value chain
What are examples of dynamic pricing models and how are they facilitated with information systems? Who uses them?
Price of a product depends on the demand or the supply situation of a seller.
- They are facilitated with big data analytics
- Online retailers like amazon, Walmart uber
- Wendy’s is implementing it
