The Environment of Supply Chain Risk Management During the Past Decade

Introduction

This paper delves into the supply chain risk management (SCRM) environment during the past decade, as presented in chapter two. We will look at themes behind Social Customer Relationship Management (SCRM), specifically focusing on the themes of customer-centricity, social media monitoring, and integrating social media into customer service. Social media monitoring is discussed as the first theme in SCRM in this chapter. The second theme is the incorporation of social media platforms into customer service operations. Using social media to engage with consumers, tailor messages to individual tastes, and build loyalty is the third theme for SCRM.

First Theme: The Relevance of Social Monitoring

The incorporation of social media monitoring into SCRM is the first theme discussed in this chapter. According to this theme, for companies to better understand the desires, needs, and habits of their target audience, they have increasingly turned to social media monitoring. With this data, marketing, sales, and customer service decisions can be made. When social customer relationship management first emerged, many companies put less emphasis on social media monitoring and more on expanding their social presence (Schlegel & Trent, 2014). However, as social media became more vital as a platform for client involvement, companies started to see the usefulness of social media monitoring. By 2013, social media monitoring was an integral part of SCRM, with companies investing in software and hardware to better monitor and analyze online discussions (Schlegel & Trent, 2014).

Second Theme: Social Media Integration into Customer Service

Integrating social media platforms into service processes was another fundamental idea behind SCRM’s creation. In the early days of social media, companies mainly exploited it as a promotional tool. However, as social media spread, companies also started using it as a customer care tool. Customers have grown to anticipate prompt and effective responses from companies through social media, making this channel an integral part of customer service (Schlegel & Trent, 2014). In order to provide the level of care that consumers have come to demand, companies have begun to include social media in their customer service operations, using software like social media monitoring and response platforms to monitor and respond to social media conversations involving their brand.

Third Theme: The Need for Adopting a Customer-Centric Approach

The importance of the client as the center of attention is a third driving concept behind SCRM’s creation. Historically, organizations have taken what is known as “product-centric approaches,” or strategies that center on the creation and promotion of items rather than the needs of customers (Schlegel & Trent, 2014). Companies need to have used to recognize how crucial it was to focus their strategy around the consumer before social media and other digital technologies made it simple for customers to voice their ideas and experiences. By 2013, a customer-centric strategy had become a cornerstone of SCRM, with companies leveraging social media and other digital channels to interact with consumers, learn about their preferences and requirements, and provide individualized products and services (Schlegel & Trent, 2014). By fostering more profound connections with customers, companies were able to boost their profitability thanks to increased loyalty and decreased turnover.

Conclusion

In summary, the purpose of this study was to investigate the basic themes behind SCRM, which are as follows: the significance of social media monitoring, the incorporation of social media into customer service, and the need for a strategy that is centered on the client. The ability for companies to obtain insights into their target audience via social media monitoring helps firms make better-informed decisions. When social media platforms are included in customer service operations, timely and effective replies are ensured, customer expectations are met, and engagement is fostered. Adopting a customer-centric strategy uses social media to customize offers and develop closer ties with consumers, ultimately resulting in enhanced customer loyalty and financial gain. Businesses can enhance their customer interactions in the digital age by being familiar with the following concepts and putting them into practice.

References

Schlegel, G. L., & Trent, R. J. (2014). Supply chain risk management: An emerging discipline. Crc Press.