Please answer the following questions: What are the major components of e-SCM? D
ID: 3773129 • Letter: P
Question
Please answer the following questions:
What are the major components of e-SCM?
Define the role of CRM in your own words. What are the key differences between today’s CRM and the early generation of CRMs?
What are the major types AND major components of CRM?
Briefly describe the customer relationship processes, and explain what is meant by a “hosted CRM.”
Part 2: Evaluate the online CRM system of your bank. What are the key functions included? What is missing? Is it a factor in your banking choice?
Explanation / Answer
Major Components ofe-SCM:
• Replenishment Systems
• E-procurement
• Collaborative Planning
• Collaborative Design and Product Development
• E-logistics
• Supply Webs (Exchanges)
Role of CRM:
Customer Relationship Management is the newest and the most innovative innovations of recent time in order to provide better service to customer. CRM is always a helpful tool for the management and customer service stuffs which cope up with customer concerns and issues. CRM involves accumulating a lot of data about the customer. And when all the data of customer are being captured, it is then used to facilitate customer service transaction by making the information needed to resolve the issue or concern readily available in order to deal with the customers. Thus, it results in satisfying more customers, which means more profitable business and more resources available to the support stuff. In addition, customer relationship management system is a great help to the management in deciding on the future course of the company.
CRM review is also vital and the most important to help out the top management because it provides crucial data like customer satisfaction efficiency service by the frontline crews. A piece of customer relationship management software will also be able to generate the needed reports for product development or new concepts. Furthermore, this system will also be a great help for the top management in deciding the company’s future course of action, whether it involves phasing out one of the products on the shelves or making adjustments to one of the products sold.
CRM system’s generated reports are also invaluable to your advertising and marketing planners, as they will be able to pinpoint which ideas and which don’t. CRM system is the main reason where you will be able to release to release advertisements or plan marketing campaigns more in tune with your target market as well as the target audiences. CRM also leads to more responses to your advertisement and a more effective marketing campaign.
However, it might not be easy as it seems to produce successful integration of CRM Customer Relationship Management system in your company. It might give you an insight, why CRM systems fail in companies because most companies it difficult and they fail to prepare for CRM review systems. By doing this, means that most companies fail to integrate all the departments that needs to be shared the information for it, to get the effective results. Furthermore, CRM units scattered all over the company’s departments is often more effective than just making one big CRM department. This will ensure that each department will get the information and data that they need.
In order to expand your business a CRM review system plays the important role. Through CRM systems, which are capable of handling enormous amounts of data, apart from that, it will also help you a lot in coping with increased numbers of customers and data. With a CRM customer relationship management installed and properly utilized, and by doing this, it assures all data will be maximized and also ensures that your business will be successful and your customers a lot more satisfied than before.
DFFERENCES BETWEEN TODAY'S CRM AND EARLY GENERATION OF CRM'S:
• Globalization and ubiquitous connectivity are forcing companies to re-evaluate how to deliver value to customers. • Large and small companies now deliver similar products at low cost with an abundance of options for customers mainly due to globalization.
• To be successful in this competitive environment, companies have to deliver both quality products and unique and dynamic experiences for the customer depending on his/her needs
TYPES AND COMPONENTS OF CRM:
• Operational CRM – Provide front- and back-end support for sales and marketing, administrative personnel, or customer-service processes
. • Analytical CRM – Provide tools for collection and analysis of data gathered during the operational process to help create a better relationship and experience with clients or end-users.
• Collaborative CRM – Deal with the interaction points between the organization and the customer.
• Market Research – The two key functionalities here are campaign management and market analysis.
• Campaign management provides support for preparing such things as marketing budgets, ad placement, sales targeting, and response management.
• Marketing analysis tools provide statistical and demographic analysis.
• Sales Force Automation (SFA) – Provide basic functionality for sales personnel to automate sales lead distribution and tracking etc.
• Customer Service Support – Typically includes help desk ticket management software, e-mail, and other interaction tools connected to a fully integrated customer database, which is connected to the SCM and ERP application
. • Data Mining and Analytics – Data must be collected, sorted, organized, and analyzed for trends, demographics, cross-selling opportunities, and identification of other sales patterns.
CUSTOMER RELATION SHIP:
• A good CRM should provide support for the following functions.
– Capture and maintain customer needs, motivations, and behaviors over the lifetime of the relationship.
– Facilitate the use of customer experiences for continuous improvement of this relationship.
– Integrate marketing, sales, and customer support activities measuring and evaluating the process of knowledge acquisition and sharing.
CRM Delivery Processes
• Campaign Management
– To generate “leads” or potential clients for the organization.
• Sales Management – To convert the lead generated by campaign management into a potential customer.
• Service Management – Provide ongoing support for the client and to assist in the operation of the product or service purchase.
• Complaint Management – To improve customer satisfaction by directly addressing the complaint of the customer and supporting a continuous improvement process.
CRM Support Process
• Market Research – Focuses on systematic design, collection, analysis, and reporting of data, and on findings relevant to specific sales activity in an organization.
– Involves integration of external and internal data from a wide variety of sources.
• Loyalty Management – Provides the processes to optimize the duration and intensity of relationships with customers.
CRM Analysis Processes
• Lead Management – Focus is on organizing and prioritizing contacts with the prospective customers.
• Customer Profiling – Focus is to develop a marketing profile of every customer by observing his or her buying patterns, demographics, buying and communication preferences, and other information that allows categorization of the customer.
• Feedback Management – Consolidates, analyzes, and shares the customer information collected by CRM delivery and support processes with the analysis process and vice versa.
HOSTED CRM:
Hosted CRM is an arrangement in which a company outsources some or all of its customer relationship management (CRM) functions to an application service provider (ASP). The hosted CRM model is said to increase return on investment (ROI) by decreasing costs and allowing a company to focus more resources on its main business areas. In-house CRM, on the other hand, while more expensive, is also said to allow more customization. Companies offering hosted CRM include Siebel, Salesforce.com, and UpShot.
2)
A bank that I use is USAA. I enjoy using the bank’s website and like all of its features,but I really like to use their iPad app. It is a comprehensive app that allows the user to do justabout everything one could do on their website. Key functions included in the online CRM is fullaccount(s) access, ability to submit and check on insurance claims, ability to change or modifyan existing auto insurance policy, set up and pay bills electronically, apply for any type of loan,full brokerage services, and trend analysis. I have used USAA for the past 12 years and Theirwebsite was not a factor in my choice to choose them. I have appreciated how their CRM
changed for the better over time and I would recommend them for their online CRM system anyday.