Research Article
Assessing Supplier-Customer Relationship Management Practice and Business Performance
@INPROCEEDINGS{10.4108/eai.7-6-2021.2308605, author={Chijioke Nwachukwu and Vu Minh Hieu}, title={Assessing Supplier-Customer Relationship Management Practice and Business Performance}, proceedings={Proceedings of the First International Conference on Computing, Communication and Control System, I3CAC 2021, 7-8 June 2021, Bharath University, Chennai, India}, publisher={EAI}, proceedings_a={I3CAC}, year={2021}, month={6}, keywords={srm crm microfinance banks business performance financial health}, doi={10.4108/eai.7-6-2021.2308605} }- Chijioke Nwachukwu
Vu Minh Hieu
Year: 2021
Assessing Supplier-Customer Relationship Management Practice and Business Performance
I3CAC
EAI
DOI: 10.4108/eai.7-6-2021.2308605
Abstract
The To remain competitive firms must develop and implement strategies to attract and retain key suppliers and customers. Drawing on transaction cost economics (TCE) and social exchange theory (SET), this study shed light on the link between supplier relationship management (SRM) practices, customer relationship management (CRM) practices and business performance. The paper uses surveys conducted on microfinance banks operating in Nigeria. This study used correlation and regression to analyse the direct influence of SRM practices and CRM practices on business performance. Data from 307 respondents affirm that supplier relationship management practices and customer relationship management practices increase business performance. Furthermore, supplier relationship management practices and customer relationship management are significantly correlated with financial health, market and sales performance and operational performance. We conclude that implementing strong collaboration with suppliers and customers can foster superior business performance.