M Maintenance, Repair and Operations (MRO) ?The activities and material purchased to support activities associated with the operation and repair of any facility, equipment or asset. ??Market Capitalization ?The value of the firm.
Most commonly calculated as the stock price multiplied by the number of shares outstanding.??Marketing Automation (TEM) TEM involves analyzing and automating the marketing process.
Because the role of technology in all aspects of business is growing, marketing departments must make it a strategic imperative to use information and IT to build competitive differentiation.
TEM includes a proactive strategy for using information and IT in marketing, with the ultimate goal of TEM is to allocate marketing resources to the activities, channels, and media with the best potential return and impact on profitable customer relationships.
The new metrics of customer profitability, customer lifetime value and share of customer will be needed to supplement the traditional metrics of market share and penetration. ??The components of TEM include the following: Data Cleansing Data Analysis Content Management Systems Campaign Management Systems Data Cleansing?This involves the use of tools for data support (EG, cleansing, manipulation and reconciliation) to produce quality data and data consistency. ??Data Analysis?Also called business intelligence, this involves the use of software for ad hoc query, reporting and analysis capabilities, supporting strategic decision-making processes with a data warehouse or data mart.
A data warehouse is a consolidated database that stores all – or significant portions of – the data collected by an enterprise’s multiple business systems.
Data from online transaction-processing applications and other sources is selectively collected, extracted, integrated, transformed, and cleaned.
A data mart contains a subset of the data typically found in a data warehouse and is designed to support the unique business intelligence requirements of a specific business process/application requirement. ??Content Management Systems?Also known as marketing content management (MCM) systems or marketing encyclopedia systems (MES), this category of applications allow enterprises to view and access marketing content. ??Campaign Management System (CMS)?A CMS is a database management (DBM) tool used by marketers to design single-channel or multichannel marketing campaigns and track the effects of those campaigns by customer segment over time.
CMS applications are also used by sales organizations to execute sales campaigns, such as achieving a specific market share with a particular product by a certain date. ??Marketplace ?Brings together buyers and suppliers by electronic marketplace Matchmakers Web sites that refer a buyer to a Web merchant willing to sell a good or service at the price specified by the buyer. ??Mergers and Acquisitions (M&A) ?The process of reconfiguring the set of companies competing within a value chain to achieve economies of scale.
Divestiture is the closely related field of selling businesses that are valued less as part of a larger entity. ??Message Brokers ?Message brokers are a kind of software that has the function one interface for all applications.
The biggest advantage is that you only need an interface from the application to the massage broker. ??Micro-Marketplace (MM) ?A narrowly focused market that aggregates multiple vendor offerings, content and value-added services (such as comparison of features) to enable buyers within a particular industry, geographic region or affinity group to make informed purchasing decisions. ??Middleware ?This term is used in many ways.
Basically, middleware is the software “glue” that helps programs and databases that may be on different computers work together.
More formally, GartnerGroup defines middleware as “runtime system software that directly enables application-level interactions among programs in a distributed computing environment”.
Its most basic function is to enable communication between application programs or DBMSs within a single-application system or across multiple-application systems. ??Mobile Client/Server (MC/S) ?This is an approach used to transport information between mobile computers and host systems.
At a minimum, this approach provides communications and database replication and synchronization.? N Net Markets ?A net market is a digital marketplace that supports all of the functions of a marketplace, on line, in a digital format, including trading, payments, dispute resolution, etc.
See also Exchange. O Open Request ?See Auction ??ASP Service Delivery Model ?The ASP standard based on ITIL and augmented with ASP experience that enables the uniform delivery of continuous services.
See channels for more info. P Partner Relationship Management?This is the CRM element that extends sales, marketing, customer service and other enterprise business functions to partners to foster more-collaborative channel partner relationships. ??Pay-as-you-grow ?A pricing model that dictates a price per transaction or price per user.
This provides a customer with a predictable and justifiable way to pay for the services. ??PCard (Purchasing Card)?A credit card used by buyers to purchase on behalf of their company.
In Philips it was used for indirect materials of low value, the Purchases were not recorded and payment made when the credit card bill arrived.
It is of course possible to implement Purchasing Cards and record the purchases.
Suppliers receive their payment; Buyers streamline their purchasing/accounts payable process. ??Personalization?Using continually adjusted user profiles to match content or services to individuals.
Personalization includes determining a user’s interest based on his or her preferences or behavior, constructing business rules to select relevant content based on those preferences or behaviors, and presenting the content to the user in an integrated, cohesive format. Portal ?A high-traffic, broadly appealing Web site with a wide range of content, services, and vendor links.
It acts as a value-added middleman by selecting the content sources and assembling them together in a simple-to-navigate (and customize) interface for presentation to the end user.
Portals typically include services such as e-mail, community, and chat. Profile ?A definition of customer preferences, behaviors, or demographics. Q R Re-aggregation ?This is the process whereby a value chain is reorganized to include various functions that were previously thought to provide no value to the end consumer or customer. ??Reverse Auction ?Purchase of goods or services by obtaining bids (to sell) from potential sellers. ?This dynamic pricing mechanism may take a variety of forms including: ??a) A Reverse English Auction where sellers call descending prices.?b) A Reverse Sealed Bid Auction where sellers place sealed bids.?c) A Reverse Dutch Auction where a market manager calls ascending prices to obtain sell bids.?d) A Reverse Japanese Auction where a market manager calls descending prices to obtain sell bids.?e) An Open Request for Quotes where sellers call descending prices and the buyer selects the winners.?f) A Sealed Request for Quotes where sellers submit sealed bids and the buyer selects the winners.??Risk Management ?The process, strategy, and actions taken to minimize the uncontrollable risks faced by a business. (EG, weather; civil unrest; etc.) ??Roadmap ?See eWay Forward. ? S Sales Force Automation (SFA)?See Field Sales??Sealed Bid Auction ?See Auction ??Sealed Request ?See Auction ??Selective Outsourcing ?Term to indicate that many enterprises consider outsourcing of a part of their IT to a service provider like ASP.
Mostly this is for relatively new applications (like eBusiness applications) for the reason that there is no in-house experience available.??Sell Side?Processes for companies to sell their products, including catalogs, transaction processors, payment processors, and supply chain management methods and tools. ??Spot price ?A price which increases and decreases dynamically according to market demand and supply.
One example of a spot price would be the price of shares on the stock exchange. ??Strategy ?A plan for achieving success including the actions (initiatives, programs, and projects) necessary to achieve that success. ??Supply Chain Management (SCM) ?The process of optimizing delivery of goods, services, and information from supplier to customer.
SCM is a set of business processes that encompasses a trading-partner community engaged in a common goal of satisfying the end customer. ??Systems Administration Management (SAM) Tools ?This is a flexible set of application maintenance utilities and application administration tools.
The key value of such tools is derived from how well they manage changes.
A well-designed tool permits an administrator to describe either a database or a form field change, ensures the integrity of all of the application components tied to the change and propagates the change to all affected users. ?SAM tools for central administration are used by system administrators and thus provide a level of technical competency, whereas administrative functionality for managers (EG, sales managers, marketing content managers and call center supervisors) must be limited by the capabilities of the end user. T Technology-Enabled Buying (TEB) ?See eSales. ??Telephony ?A generic term for voice telecommunications. ??TES?Also known as sales automation, this refers to the application of technology to enable selling through all desired sales channels, including field/mobile sales, inside sales/telesales, selling partners (IE, e-partners), Web selling (IE, e-sales) and retail sales.
The goal of TES is to integrate technology with optimal processes to provide continuous improvement in sales team effectiveness, as well as balance and optimize each enterprise sales channel. ??The components of TES include the following: Field sales Inside sales ePartner eSales
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