Chapter 3 - Strategic initiatives for implementing competitive advantages. The learning objectives for this chapter include: List and describe the four basic components of supply chain management, explain customer relationship management systems and how they can help organizations understand their customers, summarize the importance of enterprise resource planning systems, identify how an organization can use business process reengineering to improve its business. | CHAPTER 3 Strategic Initiatives for Implementing Competitive Advantages LEARNING OUTCOMES List and describe the four basic components of supply chain management Explain customer relationship management systems and how they can help organizations understand their customers LEARNING OUTCOMES Summarize the importance of enterprise resource planning systems Identify how an organization can use business process reengineering to improve its business STRATEGIC INITIATIVES Organizations can undertake high-profile strategic initiatives including: Supply chain management (SCM) Customer relationship management (CRM) Business process reengineering (BPR) Enterprise resource planning (ERP) SUPPLY CHAIN MANAGEMENT Supply Chain Management (SCM) – involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability SUPPLY CHAIN MANAGEMENT Four basic components of supply chain . | CHAPTER 3 Strategic Initiatives for Implementing Competitive Advantages LEARNING OUTCOMES List and describe the four basic components of supply chain management Explain customer relationship management systems and how they can help organizations understand their customers LEARNING OUTCOMES Summarize the importance of enterprise resource planning systems Identify how an organization can use business process reengineering to improve its business STRATEGIC INITIATIVES Organizations can undertake high-profile strategic initiatives including: Supply chain management (SCM) Customer relationship management (CRM) Business process reengineering (BPR) Enterprise resource planning (ERP) SUPPLY CHAIN MANAGEMENT Supply Chain Management (SCM) – involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability SUPPLY CHAIN MANAGEMENT Four basic components of supply chain management include: Supply chain strategy – strategy for managing all resources to meet customer demand Supply chain partner – partners throughout the supply chain that deliver finished products, raw materials, and services. Supply chain operation – schedule for production activities Supply chain logistics – product delivery process SUPPLY CHAIN MANAGEMENT Wal-Mart and Procter & Gamble (P&G) SCM SUPPLY CHAIN MANAGEMENT Effective and efficient SCM systems can enable an organization to: Decrease the power of its buyers Increase its own supplier power Increase switching costs to reduce the threat of substitute products or services Create entry barriers thereby reducing the threat of new entrants Increase efficiencies while seeking a competitive advantage through cost leadership SUPPLY CHAIN MANAGEMENT Effective and efficient SCM systems effect on Porter’s Five Forces CUSTOMER RELATIONSHIP MANAGEMENT Customer relationship management (CRM) – involves managing all aspects of a .
