Question 1

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

Accepted Answer

Users expect efficient and intuitive CRM systems that enable them to perform their tasks without unnecessary hassle. Poorly designed systems can lead to frustration and resistance, resulting in a failure to achieve the desired outcomes.

Question 2

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

Accepted Answer

This is stated in the sentence as "Cost reduction is still the number one priority for many supply chain executives, according to the MHI and Deloitte survey."

Question 3

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 suggests that retailers are good at the initial stages of handling orders, but face difficulty in the back-end processes.

Question 4

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 5

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

Accepted Answer

CRM projects should be led by the business users who have a better understanding of customer needs and objectives. Although IT support is required, the project should be primarily driven by the business users.

Question 6

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.

Question 7

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 8

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

Accepted Answer

Intangible CRM benefits, such as improved customer satisfaction or increased brand loyalty, are difficult to measure using traditional financial metrics like ROI or NPV. Therefore, alternative methods, such as customer retention rate or customer lifetime value, are often used to evaluate these types of benefits.

Question 9

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

This statement is true, as companies aim to optimize their supply chains through the use of analytics tools that provide valuable insights for improving customer service, reducing costs, and mitigating risks.

Question 10

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

Accepted Answer

This statement accurately describes the definition of logistics.

Question 11

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 should include all the factors mentioned such as expected costs, financial benefits, strategic benefits, and risks. It is essential to have a clear plan in place before beginning a CRM project to ensure its success.

Question 12

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

CRM helps in improving customer relationships and increasing sales, which can result in closed deals. It also helps in identifying customer needs and preferences, which helps in reducing inventory costs and avoiding unnecessary expenses. Furthermore, by providing better customer service and experiences, CRM can lead to increased customer satisfaction, loyalty, and retention.

Question 13

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 knowing and understanding customers in maintaining a competitive advantage.

Question 14

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 are important tools for improving business performance, it ultimately relies on the people and processes within the organization to effectively utilize these tools and make necessary improvements. Therefore, people and processes are necessary, and often more significant, factors in achieving business success.

Question 15

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

Accepted Answer

Supply chain management typically involves managing specific links in the chain, rather than the entire chain from end to end. A company can only directly manage the links that it is directly involved in, such as suppliers, manufacturers, distributors, and retailers. However, effective supply chain collaboration and communication can help manage and optimize the entire chain.

Question 16

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

Accepted Answer

Algorithms and SCM models based solely on past data may not be able to adequately capture unforeseen events, disruptions or changes in consumer behavior. Thus, supplementing algorithms with real-time data and human expertise is necessary for effective supply chain management.

Question 17

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 18

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 19

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 20

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

Accepted Answer

This statement is true. Supply chains involve the movement and exchange of physical goods, as well as the transfer of financial payments and the sharing of data and information.

Quiz 10: Strategic Technology and Enterprise Systems