Managing an Integrated Supply Chain for Financial Services Companies

Managing an Integrated Supply Chain for Financial Services Companies
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Managing an Integrated Supply Chain for Financial Services Companies
An integrated supply chain for a financial services company such as an insurance provider or a bank might involve a range of components, from product development and marketing to sales and customer service. The supply chain for these companies is not as tangible as that of a manufacturing company, for example, but it is no less critical.
Product development and marketing are vital components of the supply chain for financial services companies (Iheanachor et al., 2020). They must ensure that their products (such as insurance policies or financial products) are innovative, competitive, and aligned with customer needs. Marketing strategies may involve market research, advertising campaigns, and promotional events.
Sales and customer service are other critical components of the supply chain for financial services companies. Sales representatives must have detailed knowledge of the products and services to sell them to customers effectively (Hayes, 2021). They also need to be skilled at building relationships with customers and managing expectations. Customer service representatives must be able to...