Publication:
Assessing Supplier-Customer Relationship Management Practice and Business Performance
Assessing Supplier-Customer Relationship Management Practice and Business Performance
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Date
2021
Authors
Chijioke Nwachukwu
Vu Hieu
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Research Projects
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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
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Keywords
SRM,
CRM,
microfinancebanks,
business performance,
financial health