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IDIS 344 Final Flashcards

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1
Q

Purpose of Gettysburg class

A
  • To show how leadership and logistics lead to success both on the battlefield and in business
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2
Q

What traits does a leader use to exercise their influence?

A

Communication Skills
Decision making
Planning Skills
Personal responsibility
Motivation
Confidence
Vision

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3
Q

What does logistics in business refer to?

A

The movement of goods from Point A to Point B

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4
Q

What are the functions of logistics in business?

A

Transportation
Warehousing

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5
Q

What is logistics in the military

A

The transfer of personnel and material from one location to another

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6
Q

What makes a successful business plan?

A

Clear objectives
Good intelligence
Good leadership - top to bottom
Clear vision of success and way ahead
Logistics

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7
Q

Key leadership principles

A

Know yourself and seek self-improvement
Make sound decisions
Set the example
Know your people and look out for them
Keep your people informed
Ensure assigned tasks are understood, supervised, and accomplished
Train your people as a team

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8
Q

Union logistics comparison

A

“Three hots and a cot”
- Established supply chain
- Shorter distances to cover
- Enjoyed benefits of industrial infrastructure
- Interior lines

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9
Q

Confederate logistic comparison

A

“Scrounge around and sleep on the ground”
- No estb. supply chain
- Supply depot in Virginia
- Lack of industrial infrastructure placed heavy emphasis on importing supplies from overseas
- South’s breadbasket depleted due to fighting in virgina
- Foraging was part of overall mission

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10
Q

Day 2 of Gettysburg

A

Union wins through leadership and initiative.conf. fail to coordinate their attacks due to poor leadership

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11
Q

Battle of Gettysburg day 3

A

Union wins when confederate fail to coordinate attacks climaxing in failed grand assault of 11,000 troops resulting in over 6,000 casualties in less than an hour

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12
Q

General for union

A

George G Meade

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13
Q

General for Confederacy

A

Robert E Lee

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14
Q

Who won day 1 of battle

A

Confederate but union held high ground setting stage for day 2

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15
Q

Primary mission for Lees retreat from Gettysburg

A

Safetly return the army across the potomac river back to virgina

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16
Q

Secondary mission for lees retreat from gettysburg

A

Safely return wounded, prisoners, and foraged items back to Virgina

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17
Q

Challanges to Lees retreat

A
  • loss of key leaders in crucial time
  • Union Army was in pursuit
  • Roads, Terrain, and Weather
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18
Q

Results from Lees Retreat

A

-Successful Accomplishment of Both missions
- Army was still in bad shape
- War continued for almost two more years

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19
Q

Parallels of Gettysburg for future distributors

A
  • Ensure clear objectives, and subordinates understand the objectives
  • Even with a great plan, the enemy gets a vote also
  • Be clear in guidance/orders
  • Know environment/market
  • Maximize advantages while minimizing other guys
  • Its not the plan that ensures success, its the execution
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20
Q

Leaders in business often _______ to leaders in battle

A

face similar challanges

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21
Q

What are the consequences of leaders decisions

A

For battle they cost lives, in business it costs money

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22
Q

What can we learn from with leaders in history

A

We can learn from both the mistakes and successes

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23
Q

Purpose of marketing?

A

Understand your customer so well the product sells itself

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24
Q

7 P’s of Marketing

A

Product
Promotion
Price
Placement
People
Process
Physical evidence

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25
What is marketing?
Activity and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
26
Marketing Purpose?
Generate revenue for a brand, company or organization though digital activities that drive traffic, qualified leads and sales in collaboration with the sales team
27
Marketing Focus (manufacture)
-Build product/brand awareness - Build demand for the product/brand - "Sell" the product/brand to build market
28
Marketing focus for Distributor
- Distinguish yourself in the market - Focus on your value proposition - More emphasis on your Brand versus your Products
29
Five S's
Source Stock Store Sell Ship
30
ecommerce
Connecting the buyer and seller on the internet - Distributors online business
31
Top reasons for not providing e-commerce
- Too hard to get data to get started - Customers dont need it - Its too expensive, now its not the time to invest in it
32
Steps in E-commerce
1. The customer places and pays for order 2. Order is processed, packed and shipped 3. Order is delivered to customer
33
E-commerce and CRM integration
When integrated, they can deliver and uninterrupted and personalized website - Creates bidirectional data flow and centralized hub for customer data
34
Benefits of integrating E-commerce and CRM
- Customer data (e-mail, phone #) - Purchase history - Sales interactions
35
Ecommerce and CRM Benefits
Lead conversion - Stay on prospect's radar, close the deal Personalization - Customers expect it and integration delivers it Analytics - know customers and maintain customer base Cost savings - e-commerce / CRM integration reduces errors and waste
36
Advantages of E-commerce for distributors
- Keep up with competition - Meet the needs/requirements of customers - Attract new customers - Increase sales The bottom line question is not "Can you afford" but rather "can you afford to not have it"
37
What is just as critical as ecommerce?
The back end
38
What does ecommerce enable?
It enables a larger than normal geographical reach
39
What does E-commerce touch?
Pricing Order processing Inventory management Accounts receivable Sales analysis
40
It is about a _______ not just technology
Process
41
Distribution technology ________ and enhances each step in the flow
touches
42
Benefits of Barcoding system
- Increases productivity - Maximizes efficiencies - Reduces costs and waste - Improves quality control
43
Why is a barcode important
- Error prevention - Large inventory tracking - Reduces repetitive labor - Cost savings - Speed
44
Why is RFID important?
Productivity improvements Eliminates errors and labor Immediate benefits
45
What is warehouse management
Bar-coding Getting control of warehouse operations Improved productivity, visibility, and accuracy
46
Total warehouse logistics benefits
Cycle count during business hours Easy to train employees Employee productivity - reduces travel time Employees activity can be accurately measured Control over nonstock items
47
Biggest challenge with technology
you have the necessary internet connectivity
48
AI benefits to distributors
Optimized decision-making Improved efficiency and productivity Projected growth Enhanced customer service
49
What are distributors most concerned about in 2024 and beyond
- Supply chain and inventory - customer spending and market demand - Economic uncertainty and recession - Labor / staffing - Pricing, Inflation, and Costs - Flat to modest growth in 2024
50
What do distributors do to play offense in defensive times
- Evaluate last price paid - Invest in innovation - React to threats and opportunities quickly - Get a better buy price - Make a value creation plan with key suppliers
51
Problems in the US with distribution
Rising crime rate Southwest border Continuing supply chain issues Shrinking labor force High energy costs Rising costs
52
Problems in the world with distribution
Rising energy prices and shortages Slow economic growth On-going Ukraine and Russia war Red sea conflict
53
Key parts for a distributors success Today
Inventory+People+Technology=Success
54
Key parts for a distributors future success
Inventory+People+Technology+Business Analytics=Success
55
-- What business analytics?
Business analytics provides the tools to help identify and solve the problem - Gps and mapquest rolled into one. Value is not the data but what you do with the data
56
-----Business analytics is used by companies committed to ______
data driven decision making
57
Analytics is a combination of
Descriptive, Prescriptive and Predictive
58
Sources of Business Analytics
Order Processing Pricing Purchasing Receiving
59
Descriptive Analytics
What happened Where are we? - Reporting - Scorecards - Clustering
60
Predictive
What is likely to happen? Where do we want to go? - Data mining - Modeling - Forecasting
61
Prescriptive
What should we do? How do we get there? - Optimization - Simulation - Big data analysis
62
Why would you or would you not make all decisions based on analytics?
- Take advantage of an opportunity - Competition - Market/economy -Man made / nature issues
63
Business descriptive analytics examples
- When did customer x visit the branch? - Who are my most valuable customers? - What are my most important products?
64
Diagnostic Analytics
Answers the 'why' of Descriptive analytics
65
What does Business Predictive analytics allow
- Allows Dist. to build a strategy and set a path for the future - Be bold, but realistic - Highlight progress and success
66
What goes into Business predictive analytics?
Data- right clean and complete data Statistics - Do something with the data Assumptions - Have to be valid
67
What is the perk of Predictive analytics?
If you can predict with customers are likely to defect, you can target discounts and avoid revenue loss
68
Constraints of Prescriptive analytics
Helps to provide realism by ensuring you have the necessary bandwidth to accomplish
69
What do the constraints of prescriptive include?
Capabilities Headcount Capacity
70
Support services
Information Technology Human Resources Management Finance management
71
During Mike Hockett from MDM Presentation, he discussed the three opportunities for Distributors. What are they?
AI Economy Talent
72
During Mike Hockett from MDM Presentation, he discussed the projected revenue for 2024 would be less than 2023? True or False?
False
73
Focus of Gen-2 Business Model and Analytics
Customer
74
Two critical parts of the Analytics building blocks that were external (Gen 2)
Market Share Wallet share
75
Critical parts of the Analytical building blocks that were internal (Gen 1)
Sweet spot analysis Segmentation Data quality and Completeness
76
Was the internet designed to be secure?
No
77
Which country was identified as top Nation-State Cyber threat to the US?
China
78
Name the threat actors in the cyber fight
Hacktivist Rogue Criminal Script Kiddies
79
Name the common cyber threats
Ransome ware Data breaches Compromised emails supply chain attacks
80
Steps when you have been compromised by a hacker
- Activate plan and mobilize team - Third-party communications - notify partners for assistance - Identification and scope assessment - Containment strategy - Customer communication plan - Start recovery plan

IDIS 344 (2 decks)

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