A similarity between the customer relationship management process and the supplier relationship management process is that both provide structural support for developing and maintaining relationships with their respective supply chain partners. True / False.

Question

Business

Eden Evans

1 December, 13:36

A similarity between the customer relationship management process and the supplier relationship management process is that both provide structural support for developing and maintaining relationships with their respective supply chain partners. True / False.

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Answers (1)

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Damarion Peters · Answer 1

True

Explanation:

A customer relationship management (CRM) process combines activities, strategies and new technologies to manage customer relationships. Their purpose is to improve customer service, increase sales and reduce customer churn. Supply chain partners are important to CRM because bad supply chain management will result in a negative buying experience. E. g. you purchase a TV online, but have to wait two weeks for it to be delivered.

The supplier relationship management (SRM) process tries to maximize suppliers' contributions to the success of our company. By improving suppliers' performance, our company is able to reduce production and distribution times, and costs.