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Aspects of customer relationship management
Importance of customer relationship management in banking
Aspects of customer relationship management
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The Three companies: Discount School Supply(DSS), Sherwin-Williams and First American Corporation(FAC) sought competitive advantages by utilizing CRM systems. Firstly, DSS focused on guaranteeing the sales procedure is proficiently managed. Secondly, Sherwin-Williams improved their supply chain by embarking on a CRM project. Lastly, FAC realized growth by utilizing CRM strategies in making organizational transformations.
Case 1:
Discount School Supply(DSS), formerly known as SmarterKids.com, retails educational toys assisting parents in fostering educational goals for their children. The company is a market hub supporting about 200 toy manufacturers (Discount School Supply, 2016).DSS’s CRM projects focused on required applications that could
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The company serves external customers and numerous suppliers. Therefore, the company regarded service to both customers and suppliers as significant to its competitive success (The Sherwin-Williams Company, 2016).
Sherwin-Williams went through 27 acquisitions between 1990 and 2000. After each acquisition, information systems from the companies had to be patched and this resulted in a disjoint data infrastructure. To present a unified structure to customers and preserve productive vendor relations, Sherwin-Williams management realized they needed a solo, cohesive view of its entire business, across all business units and the supply chain. Accordingly, Sherwin-Williams began a CRM project. Sherwin-Williams constructed a series of data marts targeted at specific CRM initiatives. The first mart contained the uppermost sales performance information. Following this data mart in February 1999, Sherwin-Williams had access to its 20 business units’ data (such as Wal-Mart) short of manually consolidating the data from several sources. The company also formed effective design and implementation procedures to sustain new
Caterpillar Inc. - Strengths and Weaknesses Caterpillar Inc., sought to better determine customer demand by leveraging the Internet. Using i2 Demand Chain Management, Caterpillar created an online dealer storefront that is accessible to both dealers and end customers, and the company has expanded its sales coverage, reduced the cost of sale, and increased productivity. Caterpillar’s Building Constructions Product Division needed to predict and rapidly respond to customer demand. The company wanted to empower its dealer network to provide the highest levels of service to the end customer. Company executives knew that the Internet was critical to their strategy. Caterpillar wanted to leverage the Internet to provide more visibility into customer buying habits. In doing so, it could save millions of dollars in inventory by building and configuring those products that customers demand, rather than stocking excess inventory. The company wanted to promote specific product lines and associated work tools using a combination of traditional (dealer) and nontraditional (Internet) channels th...
The relationships with the mature company’s upstream suppliers have been built over many years. The same can be said for the downstream customers who have obtained the product for corporate use or resale. The biggest and most influential relationship that Sherrin has maintained is with the Australian Football League who has endorsed the Sherrin brand since the beginning.
Any time the company is looking into software project, there are areas associated with risk such as cost, time and relationship with suppliers. However, for Harley-Davidson, “collocation of suppliers with production facilities and their integration into company’s development process was the essential part of long-term relationship development”. Through a continued focus on collaboration and strong supplier relationships, the company could position itself to achieve strategic objectives and deliver cost and quality improvement over the long-term. Since, at that time company had no centralized system in place to handle relationship with suppliers and consequently, most of company’s time was spent on supplier management activities. For example, reviewing inventory, expediting and data entry. Furthermore, each supplier had different information systems for “Maintenance, Repair, and Operations (MRO), Original Equipment (OE), Parts and Accessories (P&A), and General Merchandising (GM) purchasing activities”. The systems, already provided by supplier, had to be further modified to meet individual need at each location, such as “the OE system at Harley-Davidson’s York, Pennsylvania site was different from the OE system in Kansas City”. However, due to long-standing tradition of gradual change implementation and focus on quality, quick transitions were unwelcome and did not come easy for the company. The size of the project determined how much risk was involved in terms of cost, time, and supplier relationships. The idea of switching to global purchasing system was seen as a threat not only in supplies and production flow interruption, but also in damaged dealer/customer relationships and lost sales. Furthermore, failure of the sy...
Sherwin-Williams was founded in 1866, by Henry Sherwin and was joined 4 years later by Edward Williams. Sherwin Williams makes paints and coatings worldwide and has developed many new pigments, lacquers, and enamels. Today the company produces 130,000 products and has over $5 billion in sales. Sherwin-Williams operates over 2300 stores and has thousands of external customers, some of which include Wal-Mart, K-Mart, Sears as well as automotive and tire stores. The company also makes automotive finishes to wood sealers and paint brushes to rollers. They employee over 25,000 employees world wide and are the number 2 paint supplier in the world and number 1 in the United States.
Lowe’s employs more than 260,000 people in more than 1830 stores; these employees are trained to provide exceptional customer service as well as receiving up-to-date product knowledge to assist customers with their improvement needs. In addition, Lowe’s has upgraded store information technology infrastructure to assist employees in accessing product data faster and easier. This is accomplished by providing the sales team with computers that have Internet access, and Ipad’s and Iphone’s loaded with specialized apps (Lowes, 2014).
The Home Depot is recognized as being the leader in the home improvement retail industry by combining the economies of scale inherent in a warehouse format with a level of customer service unparalleled among warehouse-style retailers. ("Home Depot to", 1999)
During 1990’s, the Home Depot was well renowned for its amazing customer service as orange- blooded entrepreneurial culture and outstanding customer service. Since the initiation Home Depot took a long-term approach by training its employees to form enduring customer relationships rather than push for incremental sales gains. This made the company grow very quickly becoming the fastest
The sales leads are now centralized and accessible across branches rather than individually gathered and processed by salespeople. In standardizing customer information, it now makes the marketing teams, analytic teams, and customer managers on the same page. It creates a “friendly competition” that encourages close cooperation for all areas. One major cost that this new strategy created was the confusion of different areas in RBC. Product managers and customer managers often misunderstood what way of action was appropriate, which lead to another problem: it took more time to make decisions. A benefit of this change is that there was no fighting for resources and instead cooperation. Another benefit would be the divisional organization, which can be seen in Exhibits 3a and
Sears has seen many different changes in business and has had to adjust to t...
Toys R Us is the world's largest children's specialty retailer. The company operates toy stores throughout the world and is publicly traded on the New York Stock Exchange. In this paper I will give a brief company history, cite where the competitive environment is coming from, strategies that were attempted, and where they stand today.
Instead of segmented purchasing through regional managers, all purchasing decisions were shifted to Atlanta, Home Depot’s headquarters. He also changed the managerial decision making process to be based on performance data rather than “gut-feelings”. Companywide analytics and improved information systems were implemented to support this new approach. In addition, GE engineering processes such as six sigma was used to create strict KPIs to allow management to track performance of stores. Failure to meet KPIs resulted in termination of managers or employees, creating a climate of fear.
Hoyt, D., & Silverman, A. (2008). Crocs: Revolutionizing an industry’s supply chain model for competitive advantage. Palo Alto, CA: Stanford Graduate School of Business.
Use of Amdocs CRM: In June 2006, Rogers announced that it would implement Amdocs CRM across cable, wireless and telecom lines of business. This was the ICM (Integrated customer management) Strategy which was adopted to serve about 10 million customers enabling all to receive consistent experience throughout. This investment and concern towards satisfaction of customers places Rogers in a highly customer oriented position which has lead to a lot of profits, expansion of the company, loyal customers and customers who are willing to pay much more for Rogers as compared to Wind Mobile
reaches its capacity management every winter when the volume of demand for products increases dramatically. During this time, sales are faster than the system who automatically calculates sales average every five weeks and orders inventory. Then, the manager of the store has to input manually order to keep up with fast rate of sales during winter time. Walmart 32nd St. relies on its information technology systems to take bests decisions reduce risk, increase efficiency of existing resources and forecast accurately on current sales in order to balance capacity management. Data is the key for capacity management efficiency. Technology plays an important role for system perspective at Walmart 32nd St. where the manager focuses on how the structure behavior of the system determine certain events. Walmart 32nd St. use smart devices that help the manager or supervisors to overview data, and get store records in seconds from certain products or activities. Before managers used to waste time and spend hours and days getting data, doing calculations, and then reaching to conclusions. Now days, the data is very accurate and available on
School bags represent a considerable daily occupational load for school children. According to a general guideline the weight of the school bag should not exceed 10% of the body weight of the children. But the current scenario may challenge the guidelines. Students routinely carry several books, sheets, files notebooks, workbooks, and play kits to school which makes the school bag as heavy as 20-25% of their weight. And hence the consequences are several physical injuries. Students experience back pain, muscle strain, fatigue etc.