This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
This article contains weasel words: vague phrasing that often accompanies biased or unverifiable information. Such statements should be clarified or removed.(January 2012)
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Supplier relationship management" – news · newspapers · books · scholar · JSTOR(January 2012) (Learn how and when to remove this message)
(Learn how and when to remove this message)
Supplier relationship management (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect to overall business strategy, determination of what activities to engage in with different suppliers, and planning and execution of all interactions with suppliers, in a coordinated fashion across the relationship life cycle, to maximize the value realized through those interactions.[1] The focus of supplier relationship management is the development of two-way, mutually beneficial relationships with strategic supply partners to deliver greater levels of innovation and competitive advantage than could be achieved by operating independently or through a traditional, transactional purchasing arrangement.[2] Underpinning disciplines which support effective SRM include supplier information management, compliance, risk management and performance management.[3]
The objective of SRM is to maximize the value of those interactions. In practice, SRM entails creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk of failure. SRM is a critical discipline in procurement and supply chain management and is crucial for business success.[4][5][6]
SRM is analogous to customer relationship management (CRM).[7] Just as companies have multiple interactions over time with their customers, so too do they interact with suppliers – negotiating contracts, purchasing, managing logistics and delivery, collaborating on product design, etc. The starting point for defining SRM is a recognition that these various interactions with suppliers are not discrete and independent – instead they are accurately and usefully thought of as comprising a relationship, one which can and should be managed in a coordinated fashion across functional and business unit touch-points, and throughout the relationship life-cycle.[8]
^"Maximising the Value of Supplier Relationships". CIO Leadership. 9 November 2009.
^Mettler T, Rohner P (2009). "Supplier Relationship Management: A Case Study in the Context of Health Care". Journal of Theoretical and Applied Electronic Commerce Research. 4 (3): 58–71. doi:10.4067/S0718-18762009000300006.
^New Aberdeen Research Highlights the Importance of Effective Supplier Management, Business Wire, published 9 June 2011, accessed 31 August 2021
^"Vizibl | What Is Supplier Relationship Management?". www.vizibl.co. Retrieved 2022-06-07.
^"Biztoolcase | What Is SRM?". www.biztoolcase.com. July 2022. Retrieved 2022-07-18.
^"SAP Ariba | Supplier Life Cycle Management". Retrieved 2022-08-01.
^Duffy, R. J. and Gorsage, M., Facing SRM and CRM, Inside Supply Management, August 2002, page 30, accessed 24 February 2021
^Hughes, Jonathan (April 2010). "What is Supplier Relationship Management and Why Does it Matter?". DILForientering. Retrieved 26 January 2012.
and 26 Related for: Supplier relationship management information
Supplierrelationshipmanagement (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect...
customers. Supply chain management software includes tools or modules used to execute supply chain transactions, manage supplierrelationships, and control associated...
Customer relationshipmanagementSupplierrelationshipmanagement Facility management Software as a service "Definition of Partner RelationshipManagement (PRM)...
Category Management in a business tends to alter the relationship between retailer and supplier: instead of the traditional adversarial relationship, the...
and its supplier. This may then be further developed with supplierrelationshipmanagement (SRM), with designated buyers managing key suppliers in given...
interfaces with key customers and suppliers, the processes of customer relationshipmanagement and supplierrelationshipmanagement form the critical linkages...
Real-time marketing Sales force management system Sales intelligence Sales process engineering Supplierrelationshipmanagement Support automation The International...
SAP CRM 7.0 (Customer RelationshipManagement) SAP SRM 7.0 (SupplierRelationshipManagement) SAP SCM 7.0 (Supply Chain Management) SAP PLM 7.0 (Product...
procurement systems with suppliers' eCommerce systems. OCI is an alternative to cXML. It is used by SAP SupplierRelationshipManagement, Microsoft Dynamics...
Supplier risk management (SRM) is an evolving discipline in operations management for manufacturers, retailers, financial services companies and government...
Customer relationshipmanagement (CRM) is a process in which a business or other organization administers its interactions with customers, typically using...
co-founders and board members. In 2021, the terms VRM and supplierrelationshipmanagement (SRM) have become synonyms in commercial software usage. With...
(BSS) Supplierrelationshipmanagement (SRM): suppliers, orders, payments. Data services: various "self–service" interfaces for customers, suppliers and/or...
exam modules that measured their aptitude in areas such as purchasing, supplier relations, quality issues, business law, personnel challenges, diversity...
(legacy product) SAP SCM (Supply Chain Management) (legacy product) SAP SRM (SupplierRelationshipManagement) (legacy product) SAP Advanced Data Migration...
2020. Procurement outsourcing Procurement Strategic sourcing Supplierrelationshipmanagement U.S. Women's Chamber of Commerce National LGBT Chamber of Commerce...
certified reference material that satisfies NIST-specific criteria Supplierrelationshipmanagement Single Resolution Mechanism of the EU's banking union Wright...
manner supplierrelationshipmanagement. Some CPOs are in charge of locating sources for supplies and services, and maintaining relations with suppliers and...
constituents. Supply chain management and procurement systems linking to suppliers, Human resource management and payroll management systems linking to employees...
global market. Supply management deals with the development and management of the critical business and supplierrelationship. Some companies will use...
LLC), a provider of supplierrelationshipmanagement technology. Under his leadership, Perfect Commerce created the Open Supplier Network (OSN) and became...
Global Information
