Monday, 6 May 2024, 12:43 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
Customer DriversThe three primary drivers of customer satisfaction are: Response time — the time it takes for the customer to get a response from a qualified person (i.e., someone who is going to attempt to resolve the issue). Resolve time — the time it takes for the customer to get the issue resolved to their satisfaction. |
Cost ReductionCost reduction is a planned positive approach to reduce expenditure. |
Risk ReductionRisk reduction is a planned positive approach to reduce risks. |
Strategy IndependenceIndependent Strategy adds value to its clients by seeking out investment themes and opportunities, often challenging conventional wisdom. |
Strategy Direction MatrixPlanning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth and making decisions. |
Supply ChainWhatls. (n.d) defines a supply chain as: “a network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user. |
Supply Chain IntegrationSupply chain integration is a concept that has been around since 1989, and the simple definition according to supply chain opz is, “how everyone in the company, and its trading partners work in sync to achieve the same business objectives via integrated business process and information sharing”. |
Competitive AdvantageCompetitive advantage refers to factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals. |
Customer RetentionCustomer retention is a company's ability to retain its customers over time |
Cash FlowThe total amount of money being transferred into and out of a business, especially as affecting liquidity. |