In order to implement a new CRM strategy, a business should first be capable to identify the outcomes of its business operations from the new strategy.
A business that should implement operational CRM should not implement analytical CRM or strategic CRM. Many businesses lack the knowledge of identifying the required type of CRM for implementation.
Customer Relationship Management is a management function that provides a base for creating and maintaining good relations for a long-term association.
Inventory management in supply chain management is a function to efficiently manage stocks. Inventory management remains challenged by sudden excessive customer demands.
Supply chain management (SCM) is the management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers (Christopher, 2016). The network of interconnected businesses comprises of the following SCM building blocks.
Supply chain management (SCM) refers to strategies that optimize the flow of materials or services to make available the product or service from inception to the end consumer. It aims to perform this task in an integrated and cost-effective manner (Reis et al, 2014).