Question 1

Although most retailers are good at the front-end handling orders through their multiple channels,they tend to struggle to adapt their back-end order fulfillment processes.

Accepted Answer

This statement indicates that most retailers struggle with adapting their back-end order fulfillment processes, which implies that they are not as efficient in this area as they are in front-end sales channels.

Question 2

Benefits of CRM include increases in number of deals closed,cost avoidance,reductions in inventory costs,and increased customer satisfaction,loyalty,and retention.

Accepted Answer

This statement is true. CRM (Customer Relationship Management) can contribute to increases in the number of deals closed, cost avoidance, reducing inventory costs, and improving customer satisfaction, loyalty, and retention.

Question 3

According to management guru Peter Drucker,"Those companies who know their customers,understand their needs,and communicate intelligently with them will always have a competitive advantage over those that don't."

Accepted Answer

Peter Drucker emphasized the importance of customer orientation in a business and how it gives a competitive edge to companies who know their customers' needs and communicate with them effectively.

Question 4

Intangible CRM benefits are measured using ROI or net present value (NPV).

Accepted Answer

Intangible CRM benefits are difficult to measure using traditional financial measures such as ROI or NPV as they do not have direct monetary value. Therefore, other methods such as customer satisfaction surveys, customer loyalty metrics, and employee feedback may be used to evaluate the impact of intangible benefits.

Question 5

SCM systems are configured to achieve two business goals,which are to increase revenue and maximize inventory.

Accepted Answer

SCM (Supply Chain Management) systems are configured to achieve two business goals, which are to reduce costs and improve efficiency, rather than increase revenue and maximize inventory. However, efficient supply chain management can indirectly lead to increased revenue by improving customer satisfaction and reducing lead times.

Question 6

Algorithms and SCM models based on past demand,supply,and business cycles are adequate to effectively manage the supply chain.

Accepted Answer

While algorithms and SCM models based on past data can be a helpful tool for supply chain management, they are not always sufficient. Factors such as unexpected supply chain disruptions or shifts in consumer demand can impact the effectiveness of these models. As such, it is important to regularly review and adjust supply chain strategies to ensure they remain viable and effective in the face of changing conditions.

Question 7

Putting IT department in charge of the CRM project instead of the business users is a CRM best practice.

Accepted Answer

It is generally not recommended to put the IT department solely in charge of a CRM project. The involvement of key business users and stakeholders is crucial for the successful implementation and adoption of a CRM system. The IT department can certainly play a crucial role in providing technical expertise and support, but ultimately the project should be driven by the needs and goals of the business.

Question 8

Order fulfillment is a part of front-office operations,such as accounting,inventory management,and shipping.

Accepted Answer

Order fulfillment is typically considered a back-office operation because it involves the processing of orders, inventory management, and shipping, which are all operational tasks that support the transactional side of a business rather than customer-facing front-office tasks.

Question 9

Supply chain links are managed rather than the entire chain;therefore,a company can only manage the links that it actually touches.

Accepted Answer

This statement is true. A company is only responsible for managing the supply chain links that it has direct control over. Other links outside of their control can be influenced but not fully managed.

Question 10

Supply chains involve the flow of materials,data,and money.

Accepted Answer

Supply chains involve the movement of physical materials as well as the exchange of data and financial transactions. Therefore, the statement is true.

Question 11

Logistics entails all the processes and information needed to move products from origin to destination efficiently.

Accepted Answer

Logistics involves the management of the flow of goods, information, and resources from the point of origin to the point of consumption. It includes the coordination of transportation, warehousing, inventory management, and information systems to ensure that products are delivered to their destination in a timely and cost-effective manner.

Question 12

CRM and data are necessary,but insufficient.Business performance improvement actually depends to a greater extent on people and processes.

Accepted Answer

While CRM and data can provide valuable insights and help optimize processes, ultimately it is the people and processes within a business that drive performance improvement. Effective leadership, clear communication, efficient workflows, and a strong company culture all play important roles in achieving success.

Question 13

Cost reduction is still the number one priority for many supply chain executives,according to the MHI and Deloitte survey.

Accepted Answer

The statement correctly summarizes the findings of the MHI and Deloitte survey.

Question 14

Companies use information systems to manage the ___________,which starts with the acquisition of raw materials or the procurement of products and proceeds through manufacture,transport,and delivery-and the disposal or recycling of products.

Accepted Answer

The answer of Companies use information systems to manage the...

Question 15

The focus on cost-cutting in the supply chain is squeezing out innovations in sustainability,even though executives believe these investments are important.

Accepted Answer

The statement clearly states that the focus on cost-cutting is squeezing out sustainability innovations despite executives seeing their importance.

Question 16

A formal business plan must be in place before the CRM project begins.The plan must quantify the expected costs,tangible financial benefits,and intangible strategic benefits,and risks.

Accepted Answer

A formal business plan is important to assess the feasibility and potential return on investment of a CRM project. It should include quantitative and qualitative analysis of costs, benefits, and risks to make informed decisions and prioritize resources.

Question 17

Products that are returned make up what is called the back-office supply chain.

Accepted Answer

Returned products are part of the reverse logistics process, which is a component of the overall supply chain but not specifically referred to as the "back-office supply chain."

Question 18

As global supply chains become more complex and expansive,companies want to leverage analytics that produce insights to improve customer service and reduce costs and risk.

Accepted Answer

The statement is true. With the increasing complexity and expansion of global supply chains, companies are turning towards analytics to gain insights that can improve their customer service, reduce costs, and mitigate risks. These insights generated by analytics can help companies optimize their operations, improve supply chain visibility, and make data-driven decisions to stay competitive in the market.

Question 19

Users will not tolerate poorly designed CRM systems.Frustrating users is a fast track to failure or suboptimal results.

Accepted Answer

Poorly designed CRM systems can lead to user frustration and ultimately result in failure or suboptimal outcomes. It is important to prioritize user experience and design when developing or selecting a CRM system.

Question 20

The fierce competition among the big four CRM vendors-Salesforce.com,SAP,Oracle,and Microsoft-has focused on cost-cutting which has held back innovation.

Accepted Answer

The competition among the big four CRM vendors has actually spurred innovation, as each company strives to offer unique and advanced features to differentiate itself and capture more market share.

Quiz 10: Enterprise Systems