Explain the benefits of using transaction processing systems, customer relationship systems, and supply chain management.
Transaction processing systems:
The transaction processing system is the computer system or tool which is sued to balance and also control the purchases of the goods or services in the business network.
The transaction processing system is used to core-ordinate the warehouse, also distribution of the products and also the bank payment account of the customer to manage the payments and the transactions.
The benefits of Transaction processing systems is that they can co-ordinate and act for many simultaneous transactions and handle many transactions at a time. This makes the customer handling and request initiations on the system easier. Many transaction nowadays take place online from the customer side, user side and also vendor side and thus Transaction processing systems are very important and handle these operations smoothly and efficiently without much manual intervention.
Customer Relationship systems:
Customers are the purpose for which businesses exist.
Customer Relationship Management system helps an organization to manage their existing customers and prospective customers well. With the increasing web transactions, more and more customers shop online for both retail as well as wholesale purchases. Connecting to them, maintaining relationship with them, letting them know of one’s brands on time is critical for a right purchase decision to be taken.
CRM helps in integrating customer related processes and gives consolidated customer information and also gives the customer a complete view of the organization. It gives complete and correct information about customers which can be used in their marketing campaigns. It also provides analytical tools.
Supply chain management:
Supply chain management is increasingly being recognized as the integration of key business processes across the supply chain. For example, Hammer argues that now that companies have implemented processes within the firm, they need to integrate them between firms: Streamlining cross-company processes is the next great frontier for reducing costs, enhancing quality, and speeding operations. It is where this decade’s productivity wars will be fought. The victors will be those companies that are able to take a new approach to business, working closely with partners to design and manage processes that extend across traditional corporate boundaries. They will be the ones that make the leap from efficiency to super efficiency
The Global Supply Chain Forum identified eight key processes that make up the core of supply chain management
1) Customer Relationship Management
2)Customer Service Management
3)Demand Management
4)Order Fulfillment
5)Manufacturing Flow Management
6)Procurement
Explain the benefits of using transaction processing systems, customer relationship systems, and supply chain management.
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