Why is Customer Relationship Management important for Manufacturers?
By *Ameen Ahsan Strategy Consulting*
It’s impossible to think about Life without manufacturing. Be it the small contact lens for the eyes to the large airplanes, everything that is man-made is a result of some sort of manufacturing. Manufacturing Industry is an ever booming one. Manufacturing industry has always spurred the growth of the economies in any country.
Human wants are unlimited. If these needs are to be met, there will be a necessity for goods and services. And that necessity would have to be manufactured. Be it a tangible product or a software, there is some kind of manufacturing taking place in the background.
Today there are thousands of similar manufactures trying to sell and market their products and services which are either identical or a substitution. It’s necessary for every manufacturer to attract customers be it an end customer or an intermediate customer. In order to attract and retain customers, manufacture’s need to take care of their Customer Relationships.
Customer relationship management (CRM) is important in running a successful business. The better the relationship, the easier it is to conduct business and generate revenue. The challenge facing all manufacturers is to be flexible enough to react to market changes while at the same time keeping an eye on costs. Modern machinery alone does guarantee competitiveness. What is essential is the ability to provide customers with professional service and support right from the start.
Manufacturing along with other industries has seen a significant transformation in the last two decades. From being a distribution centric industry, it has moved towards customer centric, as inventory is losing its life span. Every month or quarter, products are changing their shape and form, all due to extreme innovation. Hence, it has become a necessity for manufacturers to have a CRM policy so as to be flexible according to market demands.
A good CRM can add significant value by helping manufacturers to manage their customers, contacts, leads, opportunities, quotes and development, amongst other activities.
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