Chapter 11 & 12 Review Questions and Bank of America CRM System Assignment

Chapter 11 & 12 Review Questions and Bank of America CRM System - Assignment Example The third motivation is the need for integration of all processes of a business in order to create value to stakeholders and customers. Another motivation is the need to save costs incurred in products or services provision processes. Also, it is extremely significant to offer goods and services of high quality to esteemed customers. Therefore, the motivation for quality assurance drives an organization to adopt a good supply chain management system. Besides, every company aims at satisfying the desires of its customers. It is this motivation for customer satisfaction that encourages an organization to take initiatives for managing the various components of supply chain and logistics (Lambert, D. M., & Supply Chain Management Institute.2008). Supply chain management can be said to be the process of managing storage and movement of raw materials, assemblies, work-in-progress inventory and the finished products from a set of the point of origin to the last point of consumption. The supply chain management entails the suppliers sourcing, procurement, inventory management, product production management, warehousing, distribution and customer relationship management. It is also composed of the whole logistics systems. That is inbound logistics, outbound logistics, transportation, distribution, warehousing of goods to the final consumers. Supply chain management can be depicted as the process of planning, designing, executing, controlling and monitoring the activities of supply chain with the aim of creating value, leveraging worldwide logistics, establishing a competitive infrastructure, measuring global performance and synchronizing demand with supply. The supply chain management uses the supply chain management software to integrate and monitor its various activities. There two major types of supply chain management software are execution applications and planning applications. Planning