Do you want to start a serious SRM program but don’t know how to convince your CFO/CEO about the investment needed? Then please continue reading.
Author: Lars Kuch Pedersen
Measure and Benchmark Suppliers with SRM Software
Living in a highly client-oriented time where businesses mostly focus on maintaining and improving client relationships, you shouldn’t look down upon the significance of good supplier relationship management. A healthy business model will essentially benefit from solid and long-term supplier relationships. Read more
5 Effective Strategies Procurement Professionals in Manufacturing Need to Know
Being an essential aspect of any larger business, procurement comes with a number of responsibilities, complex tasks, and effective strategies. These include identification of buying needs, negotiation, vendor management, payment processing and the like.
When it comes to manufacturing, the right procurement processes can open doors to better cost management, risk reduction, stimulation of supplier innovation for higher competitive advantage, etc.
5 Benefits of Supplier Relationship Management Software
The necessity of rapid procurement processes increases continuously and the benefits of supplier relationship management software are getting more clear. It makes the implementation of Supplier Relationship Management Software a must since it helps to improve the processes between buyers and suppliers.
What to Consider When Buying SRM Software?
Supplier Relationship Management (SRM) techniques are strategic developments in businesses that are focused on optimizing and effectively manage the connections between third-party companies that supply goods and services to the business.
5 steps to implement your own SRM program
Many procurement leaders have asked us how to plan and implement an effective SRM program. In this article we will present five key steps to ensure an effective SRM program is implemented.
5 Ways to Improve Your Supplier Relationship Management Process
One of the main priorities of many businesses is to build long-lasting supplier relationship based on trust and loyalty. However, this can be achieved only through a well-structured Supplier Relationship Management (SRM) process, which will establish a win-win relationship for both sides.
Pros and Cons of Using SRM Software
Most medium to large size companies work with a huge number of suppliers, which fuels supply chain complexity. The number one mistake in procurement is that companies fail to properly manage their suppliers and the related external spend.
The number one mistake in procurement
The number one mistake that most companies make in procurement is that they do NOT manage their suppliers. Now what do I mean by that?
SRM eats cost saving for breakfast
The ability to generate impressive cost savings is not what separates great procurement teams from the rest. Those who truly stand out are the procurement teams that figure out how to manage the value chain and hence also the suppliers and are able to return real value to the company and its customers.
