Application of MIS in E-CRM: A Literature Review in FMCG Supply Chain

Introduction

CRM is a widely used acronym that employs long term conducive relations with the customers in order to drive lucrative business value. The avalanche of technological advancement has revolutionized the business models with unprecedented CRM implementations. CRM has thus evolved into ECRM in the recent decades to lure and retain complacent customers through various electronic means. Increased access to customer data via online resources such as social network platforms, various search engines and the creation and storing of cookies facilitate ECRM practices by accumulating swathes of data. Substantial developments in the fields of AI and ML are intricately related to ECRM optimization as they are used to model the various aspects of ECRM. ML models provide a myriad of benefits, by automating the process of purchasing commodities. This means of buying is enhanced further by elucidating the inevitable customer’s predisposition into future investments. On the contrary, these models are also effective in avoiding any appalling confrontations the business has to face by predicting the predisposition of a customer to cease to avail its services. An affluent database of customers affirms a thriving business. ECRM paves the path to effective interaction and a better customer experience leading to intelligent ways of developing and sustaining customer ties. Therefore it vividly implies that enterprises with ECRM automation has sustainable customer retention. Several factors like stringent competition in the market, advancements in IT globalization and accelerating customer expectations have revamped the organizations. Thus, there is tremendous competition among enterprises and their supply chains. An agile supply chain requires a mammoth of data to be handled. This explosion in the volume of data has caused the development of various big data analytic technologies that can intelligently analyze large volume of data, which is the dire need of the situation.

This chapter begins with applications of AI in ECRM, the second section discusses Big Data analytics and its alliance to ECRM. It further delves into illustrating the versatility of AI technologies in agile FMCG supply chain. The subsequent section explains the concept of Big Data and its use in defining the current FMCG supply chain trends. Finally, it concludes with recommendations for future research.