Innovations In CRM - Customer Relationship Management

Innovations In CRM - Customer Relationship Management

Length: 1345 words (3.8 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
1. Diagram the order process. What are the outputs of this process
The order processing system and the different flows of information across the system are depicted in Figure 1.
Considering that the order entry system and the order processing system are within the boundary of the system being considered, there will be multiple outputs generate by the process. Some of them are detailed below.
I. The order itself that a customer will pace can be considered as an output of the process. The order will be cataloged in the Customer Database, the order will also be sent to the warehouses for possible shipments and it will also be sent to the payments database to monitor the billing activities.
II. For those orders, where the products are not available, a back order report is generated to remind customer service representatives of orders that they have to be reprocessed. This will be an output generated by the order entry system itself to the customer service representative and to the warehouses also.
III. A request is generated to the Credit Department for the customer information. This will be an output of the order entry system
IV. A report on credit holds is generated by the credit department upon receiving a credit check request for a particular customer. This is an output of the system, but is generated as a secondary output of the initial credit request
V. The customer receives the shipment and the invoice for the purchase made.
2. What other major business processes outside of the order process are likely to be impacted by the order process? Explain.
The parts of Business process that are affected by this order process are,
a. The customer service representative accesses the company’s order entry system and checks the inventory for each product ordered. The customer service representative first checks the warehouse closest to the customer’s shipping address. This affects the Warehouse through the products that are stored and might cause the warehouse to produce more products than required by the customer. This process is used to contain several processes that are involved in inventory management. This includes processes for managing reserves on inventory (prevent it from being allocated to orders), for managing adjustments to inventory, and for managing expected inventory. Expected inventory allows the tracking of inventory that has been ordered as well as what has and has not arrived.
b. The production unit should manufacture the product as per the consumption, supply and demand.
c. The credit department is affected by the orders placed.

How to Cite this Page

MLA Citation:
"Innovations In CRM - Customer Relationship Management." 17 Feb 2020

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Future Trends Of Crm Essay

- The future trends of CRM involve businesses creating a customer centric system where customers sculpture their relationships with businesses the manner in which they choose to do so (Peppers & Rogers, 2011). Within this customer ecosystem are multiple interconnections that fashion customer engagement and business development of products and services. Businesses aim to benefit financially while listening to their customers. Customers hope to benefit through incentives and promotions while engaging and communicating with business managers or staff....   [tags: Customer relationship management]

Research Papers
717 words (2 pages)

Customer Relationship Management Essay

- CRM Features and Benefits CRM (Customer Relationship Management) helps companies to understand, anticipate and respond to their customers' needs in a consistent way, right across their organization (Is4Profit, 2006,1). CRM is a business strategy designed to improve profitability, revenue, and customer satisfaction. It consists of software, services, and a new way of thinking to improve profitability, revenue, and customer satisfaction (Sibel, 2006, 1). Practicing CRM requires an efficient and integrated internal business system....   [tags: Business CRM]

Research Papers
1933 words (5.5 pages)

Customer Relationship Management ( Crm ) Essay example

- In today 's business environment, it is very important to understand the consumer 's behaviour as it shapes the market trends. They are well aware, more educated, and more serious in demanding for product and services that they require and they are well aware of the technology and comparing the products. It is imperative for the organisation to understand and share their internal customer knowledge and then combine it with new information about their customers in order to compete in the market and to achieve the future success....   [tags: Customer relationship management, Marketing]

Research Papers
1186 words (3.4 pages)

Customer Relationship Management ( Crm ) Essay

- Khodakarami and Chan (2013) stated customer relationship management (CRM) is a system that allows the company to hold information about customers such as collection, store information and enable to analyse customer data to provide a quick view of their profile. There is a three-way interaction of CRM which provide a deeper insight into the capacities of various system. This help to explore more about a certain type of customer background knowledge and determine. Stein et al. (2014) stated that CRM data is a structure to provide a guidance in managing between individual customer and sales opportunities....   [tags: Customer relationship management]

Research Papers
1212 words (3.5 pages)

Essay on Customer Relationship Management ( Crm )

- Marketers have recently realized the importance of thinking about their customers in terms of relationships rather than transactions. To build relationships, companies use Customer Relationship Management (CRM) to encourage loyalty from their most valued customers. CRM refers to the practices, strategies, and technologies that companies use to organize and evaluate customer interactions and data. Companies gather data from customers using frequent shopper or shopper loyalty cards and store credit cards to understand their individual purchasing behaviors....   [tags: Customer relationship management]

Research Papers
730 words (2.1 pages)

Customer Relationship Management ( Crm ) Essay

- These days all emphasis have been on customer relationships, but only a few large businesses truly understand how to mange them. Customer relationship management (CRM) is the practices, strategies, and technology that companies use to analyze and manage customer interactions and data throughout the customer life cycle. Companies are now expected to understand the type of relationship they want to have and respond coordinately. Many corporations lack “relational intelligence” which means they are not aware of the variety of relationships customer can have with a firm and do not know how to reinforce or change those connections (Avery, Fournier, & Wittenbraker, 2014)....   [tags: Customer relationship management]

Research Papers
942 words (2.7 pages)

Customer Relationship Management ( Crm ) Essay

- Introduction Customer relationship management (CRM) is strategies to accomplish customers as it emphases on understanding customers as a single person instead of counting as part of a mass group. CRM maintains the relationships between a company and its clients. The terms CRM and knowledge management are focused on improving and incessantly distributing decent services to customers. For understanding more about customer relationship management (CRM), firstly we need to understand three components; these are customer, relationship and their management....   [tags: Customer relationship management, Marketing, Bank]

Research Papers
848 words (2.4 pages)

Customer Relationship Management ( Crm ) Essay

- Introduction Computer Economics, a research and consulting firm, surveyed 209 IT organization worldwide regarding their IT investment plans. The leading trends “were identified as low risk/high reward based on their cost predictability and their positive return on investment for organizations within two years’ time.” CRM tops the list for 2014 (Mackie, 2014) What is CRM. Customer relationship management (CRM) is a strategy utilizing knowledge to build and deepen relationships with customers. CRM systems are software systems that encompass all interactions a business has with a customer....   [tags: Customer relationship management, Customer service]

Research Papers
738 words (2.1 pages)

Essay Role Of Customer Relationship Management ( Crm )

- 1. Background and managerial problem 1.1. Theory In the present society, the development of technology has changed the way people think about the role of customer relationship management (CRM) in an organization’s marketing strategy. In the past, CRM is used by information technology companies to describe software applications in marketing, selling and other business functions (Boulding, Staelin, Ehret & Johnston, 2005, p.155; Buttle & Francis, 2004). However, companies now make efforts to build, maintain and enhance their relationship with customers (Herhausen & Schögel, 2013, pp....   [tags: Customer relationship management, Marketing]

Research Papers
1140 words (3.3 pages)

Customer Relationship Management Software ( Crm ) Essay

- Innovative customer relationship management software (CRM) can become a robust tool to assist sales teams, customer service agents and other customer facing employees at your company. The challenge here is to choose the right one matching the specifics of your industry and business model, so that employees could use it as an automated personal assistant, benefit from getting an overall view of customers, sales pipeline and other necessary dates to help close more deals. CRM solution is the best tool a company could use to stay ahead of competition by providing exceptional customer service – it won’t let you forget to send a contract for signing, issue an invoice, or send a presentation to th...   [tags: Customer relationship management]

Research Papers
1062 words (3 pages)

When each order has been entered, the system performs a credit check on the customer. Some customers are assigned “credit holds” status and are not shipped their orders until payment has been received for the purchase. Other customer orders are processed immediately and the customer pays for the purchase after receiving the shipment and an invoice.
d. This process includes processes that manage payment exceptions, such as payments requiring attention (those that have not be able to be processed automatically for some reason). An example of a payment requiring attention is when a payment that has failed authorization because of an address verification (AVS) code check.
3. How could this process be made more efficient?
The objective is to create reports and analyze data to identify trends and opportunities in online activity and close the loop by feeding back the results into the Commerce system. Businesses can better understand the effectiveness of their online shopping presence and their customers by analyzing data in the following ways:
I. Change the customer orders are taken. Define the customer code for a new customer before his order is taken. By doing this, we can have complete details about the customer like, name, billing address, shipping address, tax registration details, payment options of the customer and the category of the customer. This will lead to a better customer relationship with the company.
II. Through an extract, transform and load process, data is manipulated in a database optimized for business intelligence reporting.
III. Business Intelligence reports are generated and studied to help determine future marketing and sales actions to maximize profits.
IV. An automatic generation of an Order number will help in efficient transaction of the order. Follow up between the customer and the customer rep as per the order number generated by the system will be more precise.
V. Data mining runs against historical data, identifying trends in shopping and characteristics of shoppers.
VI. Results from data mining can be used to create customer profiles.
Business accounts represent the relationship between a store and the store's customer organizations and are the starting point for managing business relationships. Using business accounts, you can track contracts and orders for customer organizations and configure how Buyers from customer organizations shop in a store. A business account contains the following information about a customer organization:
I. The name of the customer organization and a contact person within that organization.
II. The department and name of the Account Representative from the store assigned to the customer organization.
III. Information about purchase orders a customer organization has with a store.
IV. Information on how invoices are delivered to the customer organization.
V. Whether or not the customer organization has a credit line.
VI. Any display customization information for the business customer. Store pages can be customized for a business account by specifying a piece of HTML code that can be used by a store's JSP files.
VII. Any general remarks about the business account.

Also, business accounts control customer entitlement by controlling the ability of Buyers from customer organizations to access a store's master catalog and see standard pricing for products contained in the master catalog. If a customer organization is not entitled to purchase products in the store's master catalog at standard prices, they are limited to products and prices covered by contracts the customer organization has with a store.

4. Should your company use enterprise software for its new order process?
SAP is the world largest maker of Enterprise Software. They produce software which is suitable for businesses of different sizes and needs. They also offer services for customizing their software to fit a particular company’s needs and setup. The most relevant software that we will consider for this project is the SAP R/3 6.0. This version is more suitable and convenient to use. Many fortune 500 companies and MNCs are using this software. SAP is providing enterprise software on different module basis. Like Ware house management for ware house, Production planning for production unit and Materials management for Purchase and stores. Finance and control for finance and accounts dept. For this order process which is called Sales and Distribution. This module will help us to maintain customer database with complete details, make customer order or sales order, and maintain inventory level in the warehouse. Check the inventory level at different warehouses from any office. Feedback to the production unit by the warehouse for the low inventory products can be done.
5. You have heard that commercially-available enterprise software might not be able to handle the following situations:
a. When the system checks for available inventory, it treats material that is still undergoing quality control inspection as available inventory as well as material in inventory that has already passed quality control inspection.
b. There is no way to automatically check customer records to see which qualify for sales tax exemptions
c. The system assigns a date for backorders that are currently out of stock rather than the original requested data on the customer order
What impact might this lack of functionality have on order processing and other parts of the company? How could you determine how serious a problem this creates? What questions would you ask?

In SAP, in the inventory database, there is a option of segregating the products as follows:
a. Under quality control
b. Rejected as poor quality
c. Restricted to use stock
d. Reserved stock
e. Non restricted stock.
Return to