What is SRM?

 

Recently, an honest procurement leader asked us the question: ‘What is SRM?’

I think this is a very relevant question, as there seems to be no consensus on what SRM really is. In my experience, you can ask ten CPOs this question and you would probably get ten different answers.

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6 signs you need SRM

Numbers and spreadsheets are not enough: Six crucial signs you need an SRM agenda now!

Currently you may get along well enough using tools such as Excel, online surveys, contract management tools and data warehousing to manage the procurement function. As businesses and procurement evolve and become more complex, so does your relationships with your suppliers. Read more

Creating value beyond cost savings

How did you get your start in procurement?  

Lars: It was actually a complete coincidence. I studied Supply Chain Management in business school but my first job was in a research company carrying out customer satisfaction surveys. I quickly discovered that my interest lay elsewhere and found a job as a procurement analyst at Wolseley, the world’s largest distributor of plumbing articles. Read more

Soft skills vs. Hardball: the essential skills to build successful supplier relationships

For years, driving a hard-bargain and negotiating costs were the primary skills expected from anyone with procurement or purchasing in their job title. Employee profiles, job descriptions and training programmes all centred on principals of saving a company as much money as possible, sometimes
to the detriment of a supplier relationship Read more