SCM used to be restricted to enhancing productivity, quality, and stability. In the past, KPIs have centered on producing, distributing, and selling goods. But as customers' expectations have increased, supply chain management has developed to the point where a significant portion now centers on the customer and their expectations. Of course, one of the best examples of that is Amazon.
Customers have traditionally anticipated the fundamentals, such as good service and reasonable prices, but modern consumers have considerably greater standards, such as proactive service, individualized encounters, and integrated digital experiences.
Our company's approach to providing customer service is multi-faceted. First, we provide service to suppliers and buyers, and how effectively they are served directly affects the outcomes of the programs in which they participate.
Every step of the way, from program design through supplier onboarding and training, offers the chance to maximize program success while fostering the partnership between the buyer and the supplier. Our responsibility is to ensure that these changes are noticed and to assist our clients and suppliers in getting the most out of their program participation.
At each stop, financial supply chain management needs transparency and cooperation. Who on this trip is the most crucial customer? For me, the company might be creating a new TV. They must gather all the necessary ingredients, manufacture the TV, and then deliver it to the final consumer. Although they are not in charge of every stage of the supply chain, they are concerned with how well everything works together. It is their responsibility to design a service CX for the end user.
How to optimize financial supply chain management by leveraging Customer Service
By incorporating customer service throughout the supply chain process in the following ways, businesses can start tackling these issues:
1. Creating Flexible Supply Chains
In today's world of intricate supply chains, providing exceptional customer service is a challenging task. To overcome this problem, businesses should modify their supply chain procedures from product delivery to purchase to satisfy consumer needs. These modifications may involve bespoke shipment arrangements for customers with particular pricing or delivery requirements. Additionally, adjusting can necessitate more regular and direct communication between people in charge of manufacturing and carrying the item and customer service.
2. Customer Service Teams' Training
Companies should teach their customer care representatives to recognize and address client pain areas. Teams should become familiar with the company's products as part of this training so they can decide which ones best meet the needs of a particular customer.
3. Providing a range of contact options
Because not all users have access to similar communication tools, businesses should offer various options for customers to get in touch with customer care departments. These channels include social media, phone, email, and website chat. The possibility that customers can swiftly and efficiently contact sectors like customer service and marketing is increased by offering a wide range of options.
Organizing Internal Resources to Support Programs
We do more than assist clients in formulating program goals and objectives. We help them bring procurement, IT, and finance/treasury stakeholders together to support the program's success. Doing this makes the program more likely to have inner support and be seen and evaluated as a strategic project.
Facilitating supplier outreach to encourage widespread participation
We train buyers to communicate the advantages of supply chain financing in a way that inspires wider involvement. We also work with them to prioritize which suppliers to seek participation from. Early in the onboarding process, we collaborate to develop and carry out supplier outreach campaigns. To that end, a scalable toolset of templates, brochures, videos, and websites will be created, which buyers can use to inform a vast and varied community of suppliers.
Conclusion
Recent global supply chain instabilities have increased the need for supply chain financing as more businesses look for easier access to working capital for themselves and their suppliers. However, traditional supply chain finance frequently employs antiquated procedures, conditions, and onboarding infrastructure, and buyers typically restrict SCF programs to their largest suppliers.
Leading global provider of trade financing, Skyscend works with clients across all industries. Small and large businesses specialize in generating working cash through export factoring and supply chain financing. The leading authority on global commerce solutions is Skyscend.