Unit V

What is CRM?

 CRM stands for Customer Relationship Management.

 CRM is combination of a variety of strategies used for managing the companies relationships and
interactions with potential customers.
 It helps you improve profitability.
 It is the strongest and the most efficient approach in maintaining and creating relationships with
customers.
 CRM helps in understanding the customer's needs and behaviors.
 It defines appropriate actions for retaining customers such as special incentive programs.
 It involves a process of continuously gathering data at all customer points and then turning that data
into knowledge for building more profitable customer relationships.

Features of CRM

 CRM fulfills customer needs effectively and maintains a long-term deal.

 CRM is customized by an organization to manage and administrate its customers and vendors in an
efficient manner to achieve excellence.
 It considers customer satisfaction.
 It focuses on customer loyalty, retention and complaints.
 It delivers better information and services regarding all the products and brands to the customer.

Importance of CRM

 CRM foresees customer needs effectively and increases business.

 CRM includes a historical view and analysis of all the acquired customers.
 It contains each and every bit of customer details making it easy to track customers and determine the
most profitable ones.
 It is very cost effective.
 It reduces the process time and increases the productivity.
Why is technology important in supply chain management?
Business processes have been digitalized in the past couple of decades, and it has become a necessity
rather than an option. Why not? IT integrates various operations carried out by different companies in
the supply chain. It speeds up the business processes and prevents bottlenecks. Companies are closer to
achieving on-time procurement, shorter inventory, and better efficiency, especially in manufacturing. IT
allows companies in the supply chain to meet the needs of consumers.
Supply chain management is all about producing the right product in the right quantity and sending
them to the right place at the right time. It seems simple, but it can quickly become complicated.

Green supply chain management is a critical piece of the puzzle regarding sustainability and reducing
our carbon footprint. In layman’s terms, it is the process of managing the environmental impact of the
supply chain. It can include anything from reducing energy consumption to recycling and composting.

Why does green supply chain management matter? A growing number of consumers show interest in
buying products with minimal environmental impact. If businesses want to stay competitive in today’s
market, they need to start implementing green supply chain management practices into their business.
Let’s understand green supply chain management (Green SCM) in detail to see how it can benefit
businesses and the environment.

What Is Green Supply Chain Management?

Green Supply Chain Management is a set of green management practices to help organisations operate
more sustainably and efficiently. It’s also sometimes called sustainable supply chain management or
green logistics.

It evaluates the sustainability and environmental impact of every product and process along the supply
chain, from sourcing raw materials to manufacturing, distributing and delivery. Green SCM looks for
ways to minimise waste and pollution, conserve resources, and reduce the carbon footprint of products
and services.

Green SCM is not just about being green for the sake of being green. It’s also about improving
sustainability and making operations more efficient. It is a holistic green method taking into account the
triple bottom line of sustainability: people, planet, and profits.

With green SCM, companies can also contribute to their corporate social responsibility (CSR). It helps
companies meet their environmental goals and improve their public image. Many green SCM initiatives
also have the added benefit of reducing costs. For example, green transportation initiatives can reduce
fuel consumption and save money, and green packaging initiatives can reduce materials and waste
disposal costs.

The National Association of Manufacturers, green SCM is becoming more critical to companies. The
survey found that nearly half of respondents said they have a green SCM program in place, and another
third said they are considering implementing one.
In a nutshell, green supply chain management is about minimising waste and pollution, conserving
resources, and reducing the carbon footprint of products and services. A growing number of businesses
recognise the importance of green SCM and are implementing programs to improve their sustainability.
Components of Customer Relationship Management

SalesForce Automation is the most essential components of customer relationship management. This is
one such component that is undertaken by the maximum business organizations. It includes forecasting,
recording sales processing as well as keeping a track of the potential interactions.

Human Resource Management

Human Resource Management involves the effective and correct use of human resource and skills at the
specific moment and situation. This requires to be make sure that the skills and intellectual levels of the
professionals match the tasks undertaken by them according to their job profiles. It is an essential
component not only for the large scale corporations but the medium industries as well. It involves
adopting an effective people strategy and studying the skills or the workforce and the growth being
generated thereby designing and implementing the strategies needed accordingly with the aim of
achieving development.

Lead Management

Lead Management as the name suggests, refers to keeping the track of the sales leads as well as their
distribution. The business that are benefitted by this component of CRM the most are the sales
industries, marketing firms and customer executive centres. It involves an efficient management of the
campaigns, designing customized forms, finalizing the mailing lists and several other elements. An
extensive study of the purchase patterns of the customers as well as potential sales leads helps to
capture the maximum number of sales leads to improve the sales.

Customer Service

Customer Relationship Management emphasizes on collecting customer information and data, their
purchase informations and patterns as well as involves providing the collected information to the
necessary and concerned departments. This makes customer service an essential component of CRM.

Almost all the major departments including the sales department, marketing team and the management
personnel are required to take steps to develop their awareness and understanding of the customer
needs as well as complaints. This undoubtedly makes the business or the company to deliver quick and
perfect solutions and assistance to the customers as well as cater to their needs which increases the
dependability and trust of the customers and people on the organization.

Marketing

Marketing is one of the most significant component of Customer Relationship Management and it refers
to the promotional activities that are adopted by a company in order to promote their products. The
marketing could be targeted to a particular group of people as well as to the general crowd. Marketing
involves crafting and implementing strategies in order to sell the product. Customer Relationship
Management assists in the marketing process by enhancing and improving the effectiveness of the
strategies used for marketing and promotion.

Supply Chain Sustainability

Supply chain sustainability refers to companies’ efforts to consider the environmental and human
impact of their products’ journey through the supply chain, from raw materials sourcing to production,
storage, delivery and every transportation link in between. The goal is to minimize environmental harm
from factors like energy usage, water consumption and waste production while having a positive impact
on the people and communities in and around their operations. These concerns are in addition to
traditional corporate supply chain concerns around revenue and profit.