Question 1

The medical application of 3D printing to produce living tissue and organs is called 3D ______________.
A)engineering
B)reengineering
C)bioprinting
D)bionics

Accepted Answer

The medical application of 3D printing to produce living tissue and organs is called 3D bioprinting. The term "bioprinting" refers to the use of 3D printing technology to create replacement tissues and organs that can be transplanted into patients. This is achieved by using a special type of 3D printer that can deposit living cells, known as bioink, layer by layer to create complex structures.

Question 2

What is the purpose of frequent purchase programs offered by airlines,supermarkets,credit card issuers,retailers,casinos,and other companies?
A)To track customers for CRM purposes
B)To build customer loyalty to improve financial performance
C)To deter customer attrition
D)All are purposes

Accepted Answer

All of the purposes mentioned are valid reasons why companies offer frequent purchase programs. These programs are designed to encourage customers to continue making purchases, while providing companies with valuable information to improve customer relationships and financial performance. By tracking customer behavior, companies can better understand their needs and preferences, which allows them to offer more targeted marketing and product offerings. Additionally, by rewarding loyal customers, companies can build stronger relationships and reduce the risk of attrition. Overall, frequent purchase programs are an effective tool for building customer loyalty and improving business outcomes.

Question 3

A formal business plan must be in place before the CRM project begins.The business plan should include an assessment of each of the following factors except ________.
A)clear and precise cost-benefit analysis and tangible benefits
B)expected intangible benefits
C)clear understanding of how to put an existing CRM on mobile devices
D)risk assessment of all of potential pitfalls related to people,processes,and technology

Accepted Answer

The other factors listed (A, B, and D) are all important components of a formal business plan for a CRM project, but understanding how to put an existing CRM on mobile devices is a technical consideration that should be addressed separately from the business plan.

Question 4

The step in the supply chain that is triggered by an out-of-stock situation is ______________.
A)purchase
B)returns
C)replenishment
D)shipment

Accepted Answer

An out-of-stock situation will trigger the need for replenishment in the supply chain. This means that the inventory needs to be restocked to fulfill the demand.

Question 5

Using smart glasses in a warehouse environment to assist in filling orders is known as:
A)additive manufacturing
B)vision-picking
C)ocular sensing
D)robotics

Accepted Answer

The use of smart glasses in a warehouse environment to assist in filling orders is known as vision-picking. This refers to the process of using wearable technology to provide visual aids to workers, improving speed and accuracy in order picking tasks.

Question 6

Many times seemingly well-planned projects fail and require extensive reworking because integration issues had not been properly planned.

Accepted Answer

Integration issues can arise when trying to combine different components or systems, and if not adequately planned for, can lead to unforeseen problems and ultimately project failure.

Question 7

As a technology that could dramatically impact the supply chain,drones could deliver significant value by all of the following except ______________.
A)making deliveries to customers in parking lots and their homes
B)monitoring functioning of plants
C)provide data about a facility's surroundings
D)more "human" tasks such as picking and packaging items

Accepted Answer

Drones are not capable of performing the human tasks like picking and packaging items. While they can deliver goods to specific locations, monitor plants, and provide data about a facility's surroundings, they are not designed to handle physical tasks like humans.

Question 8

According to the loyalty effect,a 5% reduction in customer attrition can improve profits by as much as __________ percent.
A)5
B)10
C)20
D)30

Accepted Answer

According to the loyalty effect, a 5% reduction in customer attrition can improve profits by as much as 25-85%, with an average of 20-25%. Therefore, the closest answer choice is C, which is 20%.

Question 9

SCM systems are commercial software packages that integrate business processes,including supply chains,manufacturing,financial,human resources,budgeting,sales,and customer service.

Accepted Answer

SCM (Supply Chain Management) systems specifically focus on managing and optimizing the supply chain processes, whereas ERP (Enterprise Resource Planning) systems integrate a broader range of business processes, including those mentioned.

Question 10

Enterprise systems require data transfers-often to mainframes.

Accepted Answer

Enterprise systems often require data transfers to mainframes as these systems often store large amounts of critical data and legacy applications. Mainframes are still widely used in large organizations for their reliability, security and large transaction processing capabilities.

Question 11

A major challenge of enterprise systems is getting new apps or system modules to interface with existing or legacy systems that are several generations older.

Accepted Answer

It is true that getting new apps or system modules to interface with existing or legacy systems that are several generations older is a major challenge of enterprise systems.

Question 12

In a recent survey by Forester research,business professionals thought that business performance improvement actually depends on a combination of four factors: the right people,processes,______________ and technology.
A)funding
B)strategy
C)knowledge
D)data

Accepted Answer

Business performance improvement relies on having the right strategy, along with people, processes, and technology, to guide decision-making and align efforts towards achieving goals.

Question 13

Apple's iPhone and iPod are best examples of __________ business strategies because demand was so high that many customers were even willing to camp out on sidewalks to guarantee getting one on the day of their releases.
A)customer-centric
B)product-centric
C)upselling
D)cross-selling

Accepted Answer

Apple's iPhone and iPod are best examples of customer-centric business strategies because demand was so high that many customers were even willing to camp out on sidewalks to guarantee getting one on the day of their releases. This shows that Apple focused on meeting the needs of its customers and creating products that they wanted.

Question 14

3D printing,also known as additive manufacturing,is a process whereby materials are cut,ground,or molded to create an object.

Accepted Answer

3D printing, or additive manufacturing, involves adding material layer by layer to create an object, rather than cutting, grinding, or molding materials.

Question 15

Companies use IT systems to manage their supply chain,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

This statement is true. IT systems are commonly used by companies to manage their supply chain from the acquisition of raw materials to the disposal or recycling of products.

Question 16

According to global investment management firm Goldman Sachs,3D printing is one of the technologies that are going to creatively destroy,to some extent,traditional manufacturing.

Accepted Answer

Goldman Sachs has indeed stated that 3D printing is one of the technologies that will disrupt traditional manufacturing.

Question 17

CRM is a business strategy to segment and manage customers to optimize customer lifetime value (CLV).

Accepted Answer

CRM or Customer Relationship Management is a business strategy that involves identifying, segmenting and managing customers to maximize customer lifetime value (CLV). This involves using technology and data analysis to understand customer behaviors, preferences, and needs, and tailoring marketing, sales, and service efforts to build and maintain long-term relationships with them. By optimizing CLV, businesses can increase profitability, reduce churn, and drive growth.

Question 18

Enterprise systems refer to a category of information systems that link the enterprise with suppliers,business partners,and customers.

Accepted Answer

Enterprise systems are designed to integrate different areas and departments of an enterprise, including suppliers, business partners, and customers.

Question 19

Implementing an enterprise system is relatively simple,but sometimes may require the help of a consulting firm,vendor,or value-added reseller (VAR).

Accepted Answer

Implementing an enterprise system is not always simple and may require a specialized consulting firm, vendor, or value-added reseller (VAR) to assist in the process due to the complexity and customization of the system.

Question 20

There have been many CRM failures reported in the media.Major issues relating to CRM failures include each of the following except _________.
A)customers rejecting loyalty programs or attempts to build loyalty.
B)underestimating users' resistance to change.
C)making mobile CRM strategy an afterthought.
D)putting the IT department in charge of the CRM project instead of business users.

Accepted Answer

The question asks which option is not a major issue relating to CRM failures. The other options, B, C, and D, are all major issues that have been reported in the media. Option A, customers rejecting loyalty programs, is not necessarily a major issue relating to CRM failures as it is a common challenge that companies face in trying to build and maintain customer loyalty.

Quiz 10: Enterprise Systems

The medical application of 3D printing to produce living tissue and organs is called 3D ______________.

What is the purpose of frequent purchase programs offered by airlines,supermarkets,credit card issuers,retailers,casinos,and other companies?

A formal business plan must be in place before the CRM project begins.The business plan should include an assessment of each of the following factors except ________.

The step in the supply chain that is triggered by an out-of-stock situation is ______________.

Using smart glasses in a warehouse environment to assist in filling orders is known as:

Many times seemingly well-planned projects fail and require extensive reworking because integration issues had not been properly planned.

As a technology that could dramatically impact the supply chain,drones could deliver significant value by all of the following except ______________.

According to the loyalty effect,a 5% reduction in customer attrition can improve profits by as much as __________ percent.