ISM Connect

12 April 2024
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82 test answers

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question
What does the average company spend on production needs?
answer
50 percent of every dollar that it earns
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When was SCM developed?
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1990s
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Today, SCM systems focus on extending beyond an organization's four walls to influence:
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Suppliers, Suppliers, Customers' customer
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Which of the following is not one of the three main links in the supply chain?
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Materials flow from suppliers and their "downstream" suppliers at all levels
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Which of the following is not one of the five basic components of supply chain management?
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Cost
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Which of the following is not one of the main links in the supply chain?
answer
Materials flow from customers and their downstream customers at all levels
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Which of the following is not one of the four changes resulting from advances in technology that are driving supply chains?
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Scalability
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What is it called when distorted product demand information passes from one entity to the next throughout the supply chain?
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Bullwhip effect
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Which of the following automates the different steps and stages of the supply chain?
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Supply chain execution software
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What is the ability to view all areas up and down the supply chain?
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Supply chain visibility
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Which of the following generates demand forecasts using statistical tools and forecasting techniques?
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Demand planning software
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Which of the following is not a principle of supply chain management?
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Listen to signals from telecommunications equipment and plan accordingly
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What is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers?
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Logistics
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Which of the following is a key to SCM success?
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Be future oriented
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Which of the following is a top reason why executives use SCM to manage extended enterprises?
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Cost control
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The customers' customer is upstream in the supply chain
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FALSE
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Plan, source, make, deliver, and return are the five basic supply chain management components
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TRUE
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Information technology, consumer behavior, visibility, and speed are the four changes resulting from advances in technology that are driving supply chains
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FALSE
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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
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TRUE
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Deploy in incremental phases and measure and communicate success is one of the keys to success for SCM
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TRUE
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CRM allows an organization to accomplish all of the following, except:
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Complicate marketing and sales processes
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What is the top CRM business driver?
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Automation/productivity/efficiency
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Which of the following is not one of the CRM business drivers?
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Accountability
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Which of the following represents operational CRM?
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Supports traditional transactional processing, Supports day-to-day front-office operations, Supports operations that deal directly with the customers
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What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers?
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Analytical CRM
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What made-to-order views can analytical CRM tools slice-and-dice customer information into?
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Customer value, Customer spending, Customer segmentation
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What can analytical CRM modeling tools discover?
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Identify opportunities for expanding customer relationships, Identify opportunities for cross-selling, Identify opportunities for up-selling
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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?
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Personalization
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Which of the following is the first CRM implementation strategy?
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Clearly communicate the CRM strategy
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What is the formula that an organization can use to find its most valuable customers?
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RFM - recency, frequency, monetary value
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What is the term that identifies how frequently a customer purchases items?
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Frequency
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What is the term that defines how recently a customer purchased items?
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Recency
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What is the term that defines how much a customer spends on each purchase?
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Monetary value
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What are the three phases in the evolution of CRM?
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Reporting, analyzing, predicting
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What is another term that represents CRM reporting technologies that help organizations identify their customers across other applications?
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Customer identification
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What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers?
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Customer segmentation
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Who did Business 2.0 rank as number one in the top 50 people who matter most in business?
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Youโ€”the customer
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Which of the following is not one of the questions asked during the reporting phase?
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Who are our customers?
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Which of the following is not one of the questions asked during the analyzing phase?
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What customers are at risk of leaving?
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Which of the following is not one of the questions asked during the predicting phase?
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What is the total revenue by customer?
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Which of the following is not a CRM industry best practice?
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Implement in the big bang approach
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Which company experienced difficulty with answering their call center phone?
answer
Brother International Corporation
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Which company turned brand loyalty into brand relationships by using the vast amounts of information it collected to better understand customers' needs and expectations?
answer
1-800-Flowers.com
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Which company has spent the last decade researching core customers to find similarities among groups of readers?
answer
New York Times
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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
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FALSE
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The business world is shifting from customer focus to product focus.
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FALSE
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The Internet can completely replace the phone and face-to-face communications with customers
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FALSE
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The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its suppliers
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FALSE
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Back-office operations deal directly with the customer
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FALSE
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What is the buying and selling of goods and services over the Internet?
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Ecommerce
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What is the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners?
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Ebusiness
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What is an approach to conducting electronic business on the Internet?
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Ebusiness model
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Which of the following represents any business that sells its products or services to consumers over the Internet?
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B2C
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Which of the following represents businesses buying from and selling to each other over the Internet?
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B2B
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Which of the following represents sites primarily offering goods and services to assist consumers interacting with each other over the Internet?
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C2C
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Which of the following represents any consumer that sells a product or service to a business over the Internet?
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C2B
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Which ebusiness model is Carfax using?
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B2C
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Which one of the following is a primary challenge to ebusiness models?
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Providing security , Adhering to taxation rules, Protecting customers
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What is an electronic marketplace?
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Interactive business communities providing a central market space where multiple buyers and sellers can engage in ebusiness activities
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What is an eshop?
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Version of a retail store where customers can shop at any hour of the day without leaving their home or office
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What is an emall?
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Serves as a gateway through which a visitor can access other eshops
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What is a business that operates in a physical store without an Internet presence?
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Brick-and-mortar business
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What is a business that operates on the Internet only without a physical store?
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Pure play business
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What is a business that operates in a physical store and on the Internet?
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Click-and-mortar business
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Which business type describes Amazon.com?
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Pure play business
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Which business type describes Barnes and Noble?
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Click-and-mortar business
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What type of online auction occurs when sellers and buyers solicit consecutive bids from each other and prices are determined dynamically?
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Electronic auction
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What type of online auction occurs when sellers use it as a selling channel to many buyers and the highest bid wins?
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Forward auction
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What type of online auction occurs when buyers use it to purchase a product or service, selecting the seller with the lowest bid?
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Reverse auction
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What is a community of interest?
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People interact with each other on specific topics, such as golfing and stamp collecting
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What is a community of relations?
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People come together to share certain life experiences, such as cancer patients, senior citizens, and car enthusiasts
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What is a community of fantasy?
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People participate in imaginary environments, such as fantasy football teams and playing one-on-one with Michael Jordan
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Which of the following is an ebusiness challenge?
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Increasing liability
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Which of the following is an ebusiness benefit?
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Decreased cost
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Which of the following is not a valid type of emarketplace revenue model?
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Loyalty fee
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What is website or web application that uses content from more than one source to create a completely new service?
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Web mashup
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What are WSYIWYGs (What You See Is What You Get) for mashups?
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Mashup editor
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Ebusiness is the buying and selling of goods and services over the Internet.
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FALSE
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Ecommerce is the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners
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FALSE
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Ebusiness is something that a business can just go out and buy
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FALSE
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An ebusiness model is an approach to conducting electronic business on the Internet
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TRUE
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Business-to-consumer applies to any business that sells its products or services to consumers over the Internet.
answer
TRU