Key Strategies To Build An Effective Supplier Relationship Management

by Singapore Institute of Purchasing and Materials Management Claim Listing

Supplier Relationship Management (SRM) is an important approach used for engaging with supplier on a level that reflects the priorities of the customer organisation and how best these needs can be achieved.

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Course Details

Supplier Relationship Management (SRM) is an important approach used for engaging with supplier on a level that reflects the priorities of the customer organisation and how best these needs can be achieved.

SRM is an integrated approach, addressing both the buyer and seller sides, which can provide mutual benefits for both organization. True SRM cannot be achieved through the Procurement Function acting alone.

SRM uses processes, principles, communications and tools to help companies better manage their existing suppliers within all areas of the company during the entire supplier lifecycle.

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