ISM Connect

What does the average company spend on production needs?

50 percent of every dollar that it earns

When was SCM developed?

1990s

Today, SCM systems focus on extending beyond an organization’s four walls to influence:

Suppliers, Suppliers, Customers’ customer

Which of the following is not one of the three main links in the supply chain?

Materials flow from suppliers and their "downstream" suppliers at all levels

Which of the following is not one of the five basic components of supply chain management?

Cost

Which of the following is not one of the main links in the supply chain?

Materials flow from customers and their downstream customers at all levels

Which of the following is not one of the four changes resulting from advances in technology that are driving supply chains?

Scalability

What is it called when distorted product demand information passes from one entity to the next throughout the supply chain?

Bullwhip effect

Which of the following automates the different steps and stages of the supply chain?

Supply chain execution software

What is the ability to view all areas up and down the supply chain?

Supply chain visibility

Which of the following generates demand forecasts using statistical tools and forecasting techniques?

Demand planning software

Which of the following is not a principle of supply chain management?

Listen to signals from telecommunications equipment and plan accordingly

What is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers?

Logistics

Which of the following is a key to SCM success?

Be future oriented

Which of the following is a top reason why executives use SCM to manage extended enterprises?

Cost control

The customers’ customer is upstream in the supply chain

FALSE

Plan, source, make, deliver, and return are the five basic supply chain management components

TRUE

Information technology, consumer behavior, visibility, and speed are the four changes resulting from advances in technology that are driving supply chains

FALSE

Information technology’s primary role in supply chain management is creating the integrations or tight process and information linkages between functions within a firm – such as marketing, sales, finance, manufacturing, and distribution – and between firms

TRUE

Deploy in incremental phases and measure and communicate success is one of the keys to success for SCM

TRUE

CRM allows an organization to accomplish all of the following, except:

Complicate marketing and sales processes

What is the top CRM business driver?

Automation/productivity/efficiency

Which of the following is not one of the CRM business drivers?

Accountability

Which of the following represents operational CRM?

Supports traditional transactional processing, Supports day-to-day front-office operations, Supports operations that deal directly with the customers

What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers?

Analytical CRM

What made-to-order views can analytical CRM tools slice-and-dice customer information into?

Customer value, Customer spending, Customer segmentation

What can analytical CRM modeling tools discover?

Identify opportunities for expanding customer relationships, Identify opportunities for cross-selling, Identify opportunities for up-selling

What occurs when a website can know enough about a person’s likes and dislikes that it can fashion offers that are more likely to appeal to that person?

Personalization

Which of the following is the first CRM implementation strategy?

Clearly communicate the CRM strategy

What is the formula that an organization can use to find its most valuable customers?

RFM – recency, frequency, monetary value

What is the term that identifies how frequently a customer purchases items?

Frequency

What is the term that defines how recently a customer purchased items?

Recency

What is the term that defines how much a customer spends on each purchase?

Monetary value

What are the three phases in the evolution of CRM?

Reporting, analyzing, predicting

What is another term that represents CRM reporting technologies that help organizations identify their customers across other applications?

Customer identification

What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers?

Customer segmentation

Who did Business 2.0 rank as number one in the top 50 people who matter most in business?

You—the customer

Which of the following is not one of the questions asked during the reporting phase?

Who are our customers?

Which of the following is not one of the questions asked during the analyzing phase?

What customers are at risk of leaving?

Which of the following is not one of the questions asked during the predicting phase?

What is the total revenue by customer?

Which of the following is not a CRM industry best practice?

Implement in the big bang approach

Which company experienced difficulty with answering their call center phone?

Brother International Corporation

Which company turned brand loyalty into brand relationships by using the vast amounts of information it collected to better understand customers’ needs and expectations?

1-800-Flowers.com

Which company has spent the last decade researching core customers to find similarities among groups of readers?

New York Times

CRM is a technology based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future

FALSE

The business world is shifting from customer focus to product focus.

FALSE

The Internet can completely replace the phone and face-to-face communications with customers

FALSE

The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its suppliers

FALSE

Back-office operations deal directly with the customer

FALSE

What is the buying and selling of goods and services over the Internet?

Ecommerce

What is the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners?

Ebusiness

What is an approach to conducting electronic business on the Internet?

Ebusiness model

Which of the following represents any business that sells its products or services to consumers over the Internet?

B2C

Which of the following represents businesses buying from and selling to each other over the Internet?

B2B

Which of the following represents sites primarily offering goods and services to assist consumers interacting with each other over the Internet?

C2C

Which of the following represents any consumer that sells a product or service to a business over the Internet?

C2B

Which ebusiness model is Carfax using?

B2C

Which one of the following is a primary challenge to ebusiness models?

Providing security , Adhering to taxation rules, Protecting customers

What is an electronic marketplace?

Interactive business communities providing a central market space where multiple buyers and sellers can engage in ebusiness activities

What is an eshop?

Version of a retail store where customers can shop at any hour of the day without leaving their home or office

What is an emall?

Serves as a gateway through which a visitor can access other eshops

What is a business that operates in a physical store without an Internet presence?

Brick-and-mortar business

What is a business that operates on the Internet only without a physical store?

Pure play business

What is a business that operates in a physical store and on the Internet?

Click-and-mortar business

Which business type describes Amazon.com?

Pure play business

Which business type describes Barnes and Noble?

Click-and-mortar business

What type of online auction occurs when sellers and buyers solicit consecutive bids from each other and prices are determined dynamically?

Electronic auction

What type of online auction occurs when sellers use it as a selling channel to many buyers and the highest bid wins?

Forward auction

What type of online auction occurs when buyers use it to purchase a product or service, selecting the seller with the lowest bid?

Reverse auction

What is a community of interest?

People interact with each other on specific topics, such as golfing and stamp collecting

What is a community of relations?

People come together to share certain life experiences, such as cancer patients, senior citizens, and car enthusiasts

What is a community of fantasy?

People participate in imaginary environments, such as fantasy football teams and playing one-on-one with Michael Jordan

Which of the following is an ebusiness challenge?

Increasing liability

Which of the following is an ebusiness benefit?

Decreased cost

Which of the following is not a valid type of emarketplace revenue model?

Loyalty fee

What is website or web application that uses content from more than one source to create a completely new service?

Web mashup

What are WSYIWYGs (What You See Is What You Get) for mashups?

Mashup editor

Ebusiness is the buying and selling of goods and services over the Internet.

FALSE

Ecommerce is the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners

FALSE

Ebusiness is something that a business can just go out and buy

FALSE

An ebusiness model is an approach to conducting electronic business on the Internet

TRUE

Business-to-consumer applies to any business that sells its products or services to consumers over the Internet.

TRU