CRM vs SCM - Tutorial weekly quiz PDF

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Tutorial weekly quiz...

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Explain the difference between CRM and SCM systems CRM and SCM are business information systems that can be utilised to benefit and guide a business. Customer relationship management is a customer focused and customer driven organisational strategy. This system focuses on assessing customer requirements for products and services, followed by providing high quality and responsive service. The goal of CRM is building long-term customer relationships that is of value to both the company and the customer. CRM is essential to retaining profitable relationships with existing customers and to gaining new ones. Loyal and existing customers form a large aspect of CRM as it is these customers that generate the greatest revenue long term. Supply chain management is the process of planning, organising and optimising the various activities done within the supply chain. SCM aspires to improve coordination between participants of the supply chain such as the suppliers, manufacturers and distributors. Through the smooth operation of an this system, SCM reduces supply chain problems and friction which in turn increases time efficiency, reduces cost and inventories and increased customer satisfaction. Unlike CRM their primary focus is within the company’s production process, whereas CRM is customer oriented. SCM reduces costs within production meanwhile CRM builds sustainable profitable relationship – both of which ultimately are centred around reducing expenses and raising revenue....