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Demand Chain
In business, a demand chain is the understanding and management of customer demand, in contrast to a supply chain. Madhani suggests that the demand chain "comprises all the demand processes necessary to understand, create, and stimulate customer demand".Madhani, P. M.Demand Chain Management: Enhancing Customer Value Proposition ''The European Business Review'', March–April 2013, pp. 50–54. Cranfield School of Management academic Martin Christopher has suggested that "ideally the supply chain should become a demand chain", explaining that ideally all product logistics and processing should occur "in response to a known customer requirement". Concept Analysing the firm's activities as a linked chain is a tried and tested way of revealing value creation opportunities. The business economist Michael Porter of Harvard Business School pioneered a value chain approach: "the value chain disaggregates the firm into its strategically relevant activities in order to understand the costs a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer-driven Supply Chain
Demand-chain management (DCM) is the management of relationships between supply chain, suppliers and customers to deliver the best value to the customer at the least cost to the demand chain as a whole. Demand-chain management is similar to supply-chain management but with special regard to the customers. Demand-chain-management software tools bridge the gap between the customer-relationship management and the supply-chain management. The organization's supply chain processes are managed to deliver best value according to the demand of the customers. DCM creates strategic assets for the firm in terms of the overall value creation as it enables the firm to implement and integrate marketing and supply chain management (SCM) strategies that improve its overall performance. A study of the university in Wageningen (the Netherlands) sees DCM as an extension of supply chain management, due to its incorporation of the market-orientation perspective on its concept. Demand-driven supply ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. The phrase "supply chain" may have been first published in a 1905 article in ''The Independent (New York City), The Independent'' which briefly mentions the difficulty of "keeping a supply chain with India unbroken" during the British expedition to Tibet. Overview A typical supply chain can be divided into two stages namely, produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unintended Consequence
In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen. The term was popularized in the 20th century by American sociologist Robert K. Merton. and later used to prevent erosion in earthworks, has become a major problem in the Southeastern United States. Kudzu has displaced native plants and has effectively taken over significant portions of land. The protection of the steel industry in the United States reduced production of steel in the United States, increased costs to users, and increased unemployment in associated industries. Perverse results In 2003, Barbra Streisand unsuccessfully sued Kenneth Adelman and Pictopia.com for posting a photograph of her home online. Before the lawsuit had been filed, only 6 people had downloaded the file, two of them Streisand's attorneys. The lawsuit drew attention to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accountability
In ethics and governance, accountability is equated with answerability, culpability, liability, and the expectation of account-giving. As in an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit, private (corporate), and individual contexts. In leadership roles, accountability is the acknowledgment of and assumption of responsibility for actions, products, decisions, and policies such as administration, governance, and implementation, including the obligation to report, justify, and be answerable for resulting consequences. In governance, accountability has expanded beyond the basic definition of "being called to account for one's actions". It is frequently described as an account-giving relationship between individuals, e.g. "A is accountable to B when A is obliged to inform B about A's (past or future) actions and decisions, to justify them, and to suffer punishment in the case of eventual misconduct." Accountabi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Practitioners In Advertising
The Institute of Practitioners in Advertising (IPA), incorporated by a Royal Charter, is the trade body and professional institute for agencies and individuals working in the UK's advertising, media and marketing communications industry. History Founded in 1917 as the Association of British Advertising Agents, it was succeeded in 1927 by the Institute of Incorporated Practitioners in Advertising to secure further professional status and recognition for its members. In 1954, it changed to its current name, the Institute of Practitioners in Advertising, so that individuals as well as corporate bodies could be members. The IPA was awarded a Royal Charter in December 2015. This came into effect officially when it was sealed on 13 April 2016. The Charter is displayed at the IPA's London office. As of April 2024, the IPA had 258 agency members. Role IPA members account for over 85 per cent of the media spend in the UK. It covers all aspects of the agency business: creative, digital ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimization (mathematics)
Mathematical optimization (alternatively spelled ''optimisation'') or mathematical programming is the selection of a best element, with regard to some criteria, from some set of available alternatives. It is generally divided into two subfields: discrete optimization and continuous optimization. Optimization problems arise in all quantitative disciplines from computer science and engineering to operations research and economics, and the development of solution methods has been of interest in mathematics for centuries. In the more general approach, an optimization problem consists of maxima and minima, maximizing or minimizing a Function of a real variable, real function by systematically choosing Argument of a function, input values from within an allowed set and computing the Value (mathematics), value of the function. The generalization of optimization theory and techniques to other formulations constitutes a large area of applied mathematics. Optimization problems Opti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix
The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are: * Product: This represents the physical or intangible offering that a company provides to its customers. It includes the design, features, quality, packaging, branding, and any additional services or warranties associated with the product. * Price: Price refers to the amount of money customers are willing to pay for the product or service. Setting the right price is crucial, as it not only affects the company's profitability but also influences consumer perception and purchasing decisions. * Place (Distribution): Place involves the strategies and channels used to make the product or service accessible to the target market. It encompasses decisions related to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Thomas Horngren
Charles Thomas Horngren (October 28, 1926 – October 23, 2011) was an American accounting scholar and professor of accounting at Stanford University, known for his work in "pioneering modern-day management accounting."Cathy Castillo.Charles T. Horngren, Management Accounting Pioneer: 1926–2011," at ''gsb.stanford.edu.'' October 27, 2011. Accessed 2015-02-16. Biography Born in Milwaukee, Horngren joined the U.S. Army after high school graduation in 1946. Back in Milwaukee, he obtained his BA in accounting at the Marquette University in 1949. In 1952 he obtained his MBA from Harvard Business School, and in 1955 his PhD from University of Chicago. After his Marquette University graduation, Horngren had started his career as accountant, and started lecturing accounting at a business college. In 1952 he joined the University of Chicago faculty as lecturer. After his doctorate graduation he taught at Marquette University and at University of Wisconsin–Milwaukee, and returned to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder Value
Shareholder value is a business term, sometimes phrased as shareholder value maximization. The term expresses the idea that the primary goal for a business is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the company's stock price to increase. It became a prominent idea during the 1980s and 1990s, along with the management principle value-based management or managing for value. Definition The term ''shareholder value'', sometimes abbreviated to ''SV'', can be used to refer to: * The market capitalization of a company; * The view that the primary goal for a company is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the stock price to increase (i.e. the Friedman doctrine introduced in 1970); * The more specific concept that planned actions by management and the returns to shareholders should outperform certain bench-marks such as the cost of capital concept. In essence, the idea that shareholders' money ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand Chain Medium
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. In economics "demand" for a commodity is not the same thing as "desire" for it. It refers to both the desire to purchase and the ability to pay for a commodity. Demand is always expressed in relation to a particular price and a particular time period since demand is a flow concept. Flow is any variable which is expressed per unit of time. Demand thus does not refer to a single isolated purchase, but a continuous flow of purchases. Factors influencing demand The factors that influence the decisions of household (individual consumers) to purchase a commodity are known as the determinants of demand. Some important determinants of demand are: The price of the commodity: Most important determinant of the demand for a commodity is the price of the commodity itself. Normally there is an inverse relationship between the price of the commodity and its qu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By leveraging data-driven insights, CRM helps businesses optimize communication, enhance customer satisfaction, and drive sustainable growth. CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many services come with a softphone), email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to better cater to their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
