Supplier Relationship Management (SRM)

"Studies have shown that if your agency or organization is like most typical ones, vendors account for approximately 60% of your budget spend. Hence, Supplier Relationship Management is critical and should be considered a core business function of your agency or organization"

In this SRM course, participants will learn to effectively manage their suppliers. Through hands-on exercises, they will develop an integrated understanding of how suppliers are chosen, motivated and managed.

Topics such as procurement life cycle and the three pillars of successful supplier relationship management: commitments, relationships, and metrics will be shared. Relationships between buyer and seller will be examined, starting from governance protocols to the negotiations of change.

Objective

At the end of this programme, participants will be able to:

• Understand the procurement life cycle and its relationship to SRM

• Use the three pillars of SRM

• Understand the variety, function, and components of SRM

• Practice change control procedures and governance practices

• Negotiate using techniques that support productive working relationships