Question

Unit 10 Discussion

Discussion Topic

Many discussion opportunities come up where you need to respond to other people’s opinions and comments. Respond to your Discussion topic after you have completed your Reading.

Inventory Management

With effective resource planning, organizations can reduce inventory and service costs, improve efficiencies, and establish methods for continuous improvement. Depending upon the type of resource, there is a different type of planning that must take place. This can include material requirements planning (MRP), capacity requirements planning (CRP), enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), or product lifecycle management (PLM).

Research two specific types of resource planning.

Based on your research, explain whether or not you believe ERP and MRP are the only resource planning processes applicable to manufactured processes.

Can either ERP or MRP be used for service industries or can they only be used for manufacturing organizations?

Answer 1

Customer analytics has always been a very vital part of a business marketing strategies. By analysing the customers abroad can easily identify their needs and can provide best to the customers. By having an understanding of the customers requirement of brand can grow towards be specific goal for providing best services to their customers as well as regaining the best profits.

Previously the customer analytics was totally analogue and dependent on the human capability which made it a bit inefficient as compared to the today is human resource management system which is called as CRM.

Technological advance customer relationship management systems are Highly Effective and provide an analytical interface which can measure vast amount of information in very short time.

By implementing the customer relationship management in your organisation you can easily organise your customers according to their needs as well as their behaviour analysis. By taking multiple feedback from the customers as well as getting information by different mediums is really helpful in improving the profits for your organisation as well as services for the customers.

Technology has played a vital role in changing the customer analytics process as now the process is most and more efficient than the previous times because of the vast reach of the technology towards the customer.

Customer relationship Management has following benefits

• It improves the informational organisation
• CRM enhances communication
• It improves the overall customer service
• It helps in automation of daily tasks
• Provide better efficiency for multiple teams
• It increases the level of analytical data reporting

Just like today the customer relationship management is very essential for a company it would be more essential for a company as the world is going to delete digital. Moving the employee customer relationship as well as understanding your customer segment would literally require customer analytics. By being dependent on the customer analytics and company could easily identify their goals and their specialities in the business market. In the very future customer Analytics would be a mandatory thing for most of the organisation no matter give their small or big because the technology is over taking every single segment Around The World

Product life cycle can be define as a cycle in which a product went through introduction to its declination towards the society.

4 stages of product life cycle are as follows-

Introduction

In this stage product is introduced to the market for making a for making an identity and setting up a brand unique selling point.

Growth

As a deman You just wanted you don't want my heartd for the prodPage Industriesucts increases, product enters in the growth cycl oil. As a demand is increased the overall production cost of the product decreases and high profits are generated. Competitors will enter at this point.

Maturity

Product start being bored by so many customers it enters the majority lifecycle. In this stage companies start looking for new opportunities to adopt better Innovation and implementation of the product.

Decline

At this stage the products overall importance started to watch out from the market. This can happen naturally but also very much affected by the new and innovative products.

Management of product life cycle as well as implementation of different strategies according to the understanding different stages of the life cycle can be very beneficial for every organisation to improve its overall availability of different opportunities. This type of approach also enables an organisation to successfully assess different problems and to mitigate them for creation of a better operating structure.