- What Is Supplier Relationship Management (SRM)?
Are you pro actively managing relationships or merely reacting to external pressures?
For Purchasing Practice, SRM is an integral part of strategic sourcing and the category management process. It is the process that optimizes supplier selection and then:
(1) implementing processes and controls to help ensure that suppliers honor their commitments to price, quality and service delivery.
(2) working with suppliers to reduce TCO and maximize value, in instances where the strategic sourcing process is either not possible, or where its potential has been exhausted.
- Working with you:
By working directly with those staff responsible for committing expenditure, managing suppliers, or who influence the purchasing decision process, we will carry out a rigorous review using proven tools and methodologies to present our recommendations.
- Goals:
The ultimate goal of SRM is to ensure each relationship is managed in the right way so that your business optimizes the benefits available. Purchasing Practices rigorous approach to SRM will ensure your business benefits from constructive relationships with suppliers.
- SRM MODEL
- Transformation
- Supplier Relationship Management
- Opportunity Assessment
- Category Management
- Sourcing Management
- Small-Medium Size Business
- Extended Sourcing Team
- Mergers & Aquisitions
- Private Equity & Venture Capital
Practical Benefits:
Basic SRM will increase your knowledge and understanding of your supply base, thus allowing you to drive and control both supplier selection and post selection management. Strategic SRM starts once the organization is confident that it is working with the most capable and economical suppliers; once this is the case further value can be best extracted through collaborative projects.
