Supplier Relationship Management
As the need to maintain quality, coherence and deliver tangible savings across the supply chain has increased, so the focus has turned to procurement departments to realise the benefits through supplier relationship management (SRM). Improving the selection and management of global suppliers is a key issue for many large organisations.
Effective management of the supply base is critical. When companies are confident they are working with the most capable and economical suppliers, processes can be streamlined.
Companies can reap the rewards by managing relationships in a more strategic fashion