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Supply Chain Management - Lesson Summary

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The key points from this module are:
Customer Relationship Management is a tool for managing a company’s interactions with its customers and sales prospects.
Customer Relationship Management uses People, Process, and Technology to gain insight into the behavior of customers.
Supply Chain Management is a complete process of changing the raw materials into goods and delivering them to the end-user.
The four steps involved in the supply chain management process are:
PlanningProcurementProductionDistribution
The three key features of supply chain management are:
Reduce Delivery Time Reduce Delivery CostIncrease Collaboration amongst Partners
The Bull-Whip Effect is the uncertainty caused by distorted information flowing up and down the supply chain.
The lean system is a philosophy that seeks to shorten the time between customer order and shipment to the customer by eliminating process waste.
Supplier Relationship Management systems track both data and process- interchange of flows, as well as provide the management and analytical tools to intelligently track the performance of direct suppliers based on benchmark, historical, and or contractual condition.
Product lifecycle management is a new set of enterprise application that manages all data and information about a product from it is initial conception to retirement.