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
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.
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.