CRM in Pharmaceutical Industry - Research Paper Example

?CRM Research Paper Table of Contents CRM Research Paper Table of Contents 2 E–Business Application 3 E–Business in Pharmaceutical Industry 3 E–Business at Hanmi 4 Analytic Data Value 4 ubi – SFA technology 5 CRM Design 6 CRM Implementation and Design at Hanmi 7 RFID/USN Technology 7 7 RFID Design at Hanmi 8 References 9 E–Business Application E–business encompasses various business processes which focus on integrating traders with suppliers and consumers through internet. E–business includes developing a website, helping customers by showing available products, offering discounts on purchase and converting viewers into customers. The advantage of implementing e–business is that any business organization can conduct their business online; and an organization which is engaged in e–business has a worldwide presence. Company can market its product worldwide at nominal price through e–business. In addition, e-business ensures good and superior customer service which can encourage buyers to know more about any particular product of a company. Customers can make online payment and the products are delivered in their house. E–Business in Pharmaceutical Industry E–business strongly influences the strategies of pharmaceutical companies. Online sales and detailing can influence the sales of pharmaceutical company. Through e–business, pharmaceutical company develops branding, forecast sales, place & trace customer orders and influence supply chain management. Pharmaceutical company had developed website where information about doctors and medicines can be reviewed. Through e–business forum, people are able to share information and feedback about any drug or medicine. Many pharmaceutical companies had developed front end and back end e-business formation to trade their products to business partners, customers, wholesalers and distributors. Custom e-business application is effective while ordering drugs and medicine products and requires extensive prescription data. E-business ordering, selling can be implemented using application which allows pharmaceutical company to draft complicated order over website (Qayyum, “eBusiness Technologies and Trends in the Pharmaceutical industry”). E–Business at Hanmi Hanmi had developed professional website for e–business solution. The website of Hanmi provides strong communication atmosphere and it is a good system for medical practitioners such as doctors, chemists or pharmacists. Through their website they can gain useful information. Hanmi Medical Portal (HMP) had accomplished sustainable development and became a major specialized medical website for many domestic doctors. HMP consists of intern, occupant and medical school students. It provides several essential services such as medical information service, medical related social service, prerequisite for professional service and many allied & differentiated service. HMP is seeking to become the next generation growth technology of Hanmi Pharmaceutical Company and conquer the International Medical Portal Standard (Hanmi IT, “HMP”). Analytic Data Value In today’s competitive world, analytic collection of data has been widely used. Organization collects data from a wide range of source before extracting meaningful information from them. This is the challenge for every organization to deploy analytics and generate information from customer data. Many organizations are unsuccessful to achieve complete benefit of their customer data because of fault within the analytics capacity. The customer data analytic helps organizations to improve customer experience, sales and service. Hanmi had successfully developed software to properly manage customer data and derive important information from it. Hanmi’s software solution helps to draw business results from customer data. It can provide dashboards, trend reports and pivot tables which can indicate key performance indicator of market and help company to measure the success factors. ubi – SFA technology Hanmi had implemented ubi-SFA approach for executing more productive sales and marketing activities through re-examining existing system. This approach results in maximization of sales through systematic and efficient management system. The major reason for implementing ubi-SFA is to modernize the sales process and repair the existing process. Through this approach, Hanmi is able to share information which is maintained by agents. This information helps to generate new objectives for Hanmi. Every company needs proper marketing strategy for gathering field information and accordingly makes possible planning activities. Through implementing ubi-SFA, Hanmi can fulfill those objectives. This technology helps to enhance sales and marketing productivity. It is a programmed systematic process to promote sales opportunities, evaluate the outcome of conducted sales and marketing actions and provide appropriate feedbacks which help Hanmi to develop next marketing strategy and focus on sales opportunities to maintain competitive advantage. ubi-SFA technology can reduce the non-operating time for paperwork and thus minimize the waiting time for customers. This technology helps Hanmi to manage sophisticated information about customer’s information. Hanmi quickly settles any compliant and claims of customers and provides immediate response to them, thereby maintaining strong customer relationship. ubi-SFA helps the management by providing vital information on sales overview, evaluates sales progress and verifies overall sales position. For sales manager, this technology can allocate sales and marketing tasks with efficient distribution of sales and increase the assortment of sales opportunities. It can generate appropriate incentives for sales agents. Through ubi-SFA technology, sales support team can access rapid information on customers and products. This technology is a flexible means for finding any customer information. It can help to develop sales planning with expert marketing strategies. It provides discriminate services for customers. Ubi-SFA system can support time management for sales agent. It helps to standardize all kind of sales process and is applicable to actual operations. It can reduce the repetitive odd jobs of sales agents (Hanmi IT, “ubi-SFA”). CRM Design Company’s relationship with customers determines the success of business. Knowing customer and focusing on customer requirements help a company to better organize its resources towards an effective result for organization. Company uses CRM to learn about customer needs and behavior for making better relationship with them. Through CRM, a company can computerize all processes and present information about customers. CRM helps to incorporate information management system so that broad variety of data reaches throughout organization. It can be used to plan, schedule and organize before sales and after sales activities. CRM is a modern business strategy that enables a firm to optimize revenue and increase value through understanding and satisfying the individual customer needs (Reynolds, J., “A Practical Guide to CRM: Building More Profitable Customer Relationships”). CRM Implementation and Design at Hanmi Hanmi Pharmaceutical had implemented several CRM technologies to improve their business. For example: RFID/USN Technology Hanmi had implemented the RFID/USN technology which helps to tract and draw actions. It supports a variety of works such as efficient inventory management, micromarketing and demand forecasting. This technology can process big quantity of data quickly and can manage multiple production lines all together. Hanmi had also developed UNAplus RFID and EDGEplus technology and successfully implemented them. These technologies can offer a variety of industry specific solutions and are fully customized according to various operations of Hanmi. The company had successfully met the customer needs and solves business problems. Hanmi had differentiated them from other competitors and established integrated solution of ‘Item Level Tracking’ earliest in the world (Hanmi IT, “RFID Biz”). RFID Design at Hanmi The RFID system goes through number of processes which embrace examination of business process, collection of hardware and system software, development of application and relate with existing system. The designing of RFID is discussed in following table: Design of RFID Technology Work Analysis Evaluate the work process of RFID system System Design Describe required condition and manufacture brand design for RFID Product Selection Selection of finest requisite of RFID Tagging Classify labeling of RFID Equipment Installation Set up hardware for RFID Application Development Create application for RFID implementation Analysis & Installation Examine RFID system and properly install them Interconnect with Existing System Link the RFID system with existing application of Hanmi Work Analysis Provide training and education for running RFID Source: (Hanmi IT, “RFID Biz”). References Hanmi IT. “RFID Biz”. April 21, 2011. Innovating Standard Solution, 2010. Hanmi IT. “ubi-SFA”. April 21, 2011. Innovating Standard Solution, 2010. Hanmi IT. “HMP”. April 21, 2011. Innovating Standard Solution, 2010. Qayyum, Imran. “eBusiness Technologies and Trends in the Pharmaceutical industry”. April 21, 2011. Massachusetts Institute of Technology, 2003. Reynolds, Janice. A Practical Guide to CRM: Building More Profitable Customer Relationships Focal Press, 2002. Read More