MIS chapter 9 Customer relationship management. Customer ...
MIS chapter 9 Customer relationship management. Customer relationship management: returns to personal marketing. Rather than market to a mass of people or companies, businesses market to each customer individually. CRM approach is designed to achieve customer intimacy and is enabled by information technology. Customer touch points: organisations must recognise the numerouse and diverse interactions that they have with their customers. Traditional customer touch points include telephone contact, direct email. Collaborative CRM: provide effective and efficient interactive communication with the customer through the entire organization. Collaborative CRM integrates communications between the organisation and its customers in all aspects of marketing, sales, and customer support processes. Operational CRM: the component of CRM that supports the front office business processes. These processes are those that directlt interact with customers; sales, marketing, etc. Customer-facing CRM applications: those applications where an organizations sales, field service, and customer interaction center representatives actually interact with customers. Customer service and support Customer interaction centers (CIC): where organizational representatives use multiple communication channels such as the web, telephone, fax, and face to face interactions to support the communication preferences of customers. Sales force automation (SFA): is the component of an operational CRM system that automaticall;y records all the aspects in a sale transaction process. Marketing Cross selling: the practise if marketing additional related products to customers based on previouse purchase. Amazon.com. Upselling: a sales strategy in which the business person will give customers the opportunity to purchase the higher value related products or services as opposed to or along with customers initial product or service section. Bundling: a form of cross selling in which a business sells a group of products or services together at a price that is lower than the combined Individual process of the products. Campaign management applications: help organizations plan campaigns so that the right messages are sent to the right people through the right channel. Customer- touching CRM application: using these application customers typically are able to help themselves. There are many types of e-CRM applications.
Search and comparison capabilities
Technical and other information Customized products and services Personal web pages FAQ’s Email and automated response Loyalty programs: recognize customers who repeatedly use a vendor’s products or services.
Analytical CRM: analyze customer behaviour and perceptions in order to provide actionable business intelligence. Ex. Typically orivide info on customer requests and transactions as well as on customer responses to an organizations marketing sales and service initives. On demand CRM: a CRM system that is hosted by an external vendor in the vendor’s data center. This arrangement spares the organization the cost associated with purchasing the system. Mobile CRM: an interavtive CRM system that enables an organization to conduct communications related to sales, marketing, and customer services activities through a mobile medium for the purpose of building and maintaining relationships with its customers. Open source CRM: CRM software whose source code is available to developers and user. MIS chapter 10 supply chain management Supply chain visibility: the ability for all organizations in a supply chain to access or view relevant data on purchased materials as these materials move through their supplier’s productions processes and transportation networked to their receiving docks. Inventory velocity: is the time between the receipt of incoming goods and dispatch of finished outbound products. Bullwhip effects: refers to erratic shifts in order up down the supply chain. Push model: the production process begins with a forecast which is simply an educated guess as to customer demand. Verticle integration: is a business strategy in which a company buys its upstream suppliers to ensure that its essential supplies are available as soon as they are needed. Just in time inventory system: attempts to minimize inventories; in a manufacturing process, JIT systems deliver the precise number of parts called work in process inventory, to be assembled into a finished product at precisely the right time. Pull model: also known as make to order; the production process begins with a customer order; company make only what customers want a process closely aligned with mass customization. Vendor management inventory: knows if inventory falls below the threshold.
Supply chain management SCM: consists on planning organizations and optimizing the various activities performed along the supply chain. As such supply chain management system provide support to SCM using information technology. Inter organizational information systems IOS: involves information flows among two or more organizations. By connecting the information systems of business partners IOs enable the partners to perform a number of tasks and receive a number of benefits. Electronic data interchange EDI: is a communication standard that enables business partners to exchange routine documents. Such as purchasing orders, electronically. Web services: applications delivered over the internet that users can select and combine through almost any device, from personal computers to mobile phones. Service oriented architecture SOA: which is the IT architecture that makes it possible to construct business applications using web service. Types of Extranet A company and its dealers, customers, or suppliers: this type of extranet is centered around a single company. An industry extranet: just as a single company can set up an extranet the major player in an industry can team up to create an extranet that will benefit all of them. Join ventures and other business partnerships: the partners in a joint venture use the extranet as a vehicle for communications and collaborations.; bank of America extranet for commercial loans.
Search and comparison capabilities
Technical and other information Customized products and services Personal web pages FAQ’s Email and automated response Loyalty programs: recognize customers who repeatedly use a vendor’s products or services.
Analytical CRM: analyze customer behaviour and perceptions in order to provide actionable business intelligence. Ex. Typically orivide info on customer requests and transactions as well as on customer responses to an organizations marketing sales and service initives. On demand CRM: a CRM system that is hosted by an external vendor in the vendor’s data center. This arrangement spares the organization the cost associated with purchasing the system. Mobile CRM: an interavtive CRM system that enables an organization to conduct communications related to sales, marketing, and customer services activities through a mobile medium for the purpose of building and maintaining relationships with its customers. Open source CRM: CRM software whose source code is available to developers and user. MIS chapter 10 supply chain management Supply chain visibility: the ability for all organizations in a supply chain to access or view relevant data on purchased materials as these materials move through their supplier’s productions processes and transportation networked to their receiving docks. Inventory velocity: is the time between the receipt of incoming goods and dispatch of finished outbound products. Bullwhip effects: refers to erratic shifts in order up down the supply chain. Push model: the production process begins with a forecast which is simply an educated guess as to customer demand. Verticle integration: is a business strategy in which a company buys its upstream suppliers to ensure that its essential supplies are available as soon as they are needed. Just in time inventory system: attempts to minimize inventories; in a manufacturing process, JIT systems deliver the precise number of parts called work in process inventory, to be assembled into a finished product at precisely the right time. Pull model: also known as make to order; the production process begins with a customer order; company make only what customers want a process closely aligned with mass customization. Vendor management inventory: knows if inventory falls below the threshold.
Supply chain management SCM: consists on planning organizations and optimizing the various activities performed along the supply chain. As such supply chain management system provide support to SCM using information technology. Inter organizational information systems IOS: involves information flows among two or more organizations. By connecting the information systems of business partners IOs enable the partners to perform a number of tasks and receive a number of benefits. Electronic data interchange EDI: is a communication standard that enables business partners to exchange routine documents. Such as purchasing orders, electronically. Web services: applications delivered over the internet that users can select and combine through almost any device, from personal computers to mobile phones. Service oriented architecture SOA: which is the IT architecture that makes it possible to construct business applications using web service. Types of Extranet A company and its dealers, customers, or suppliers: this type of extranet is centered around a single company. An industry extranet: just as a single company can set up an extranet the major player in an industry can team up to create an extranet that will benefit all of them. Join ventures and other business partnerships: the partners in a joint venture use the extranet as a vehicle for communications and collaborations.; bank of America extranet for commercial loans.
