The Ultimate Goal of Customer Relationship Management Is Customer Loyalty

question 16

True/False

The ultimate goal of customer relationship management is customer loyalty.

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Definitions:

Supply Chain Function

A specific activity or set of activities within a supply chain, such as procurement, production, distribution, or logistics, that adds value to products or services.

Supplier Scoring

A method used to evaluate and rank suppliers based on various criteria such as delivery time, quality, cost, and reliability to improve purchasing decisions.

Procurement

The process of obtaining goods and services, including sourcing, negotiating, and strategic selection.

Buyback Contracts

Agreements where a seller commits to repurchase the product from the buyer at a specified price under certain conditions.