ALSO CALLED: Sourcing, Strategic Sourcing, SRM, and e-Sourcing DEFINITION: Supplier relationship management is a comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services it uses. The goal of supplier relationship management (SRM) is to streamline and make more effective the processes between an enterprise and
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Learn how supplier relationship management (SRM) will help you maintain relationships with suppliers, enabling you to drive down costs and manage risk. Save time and money while receiving the goods and services your business needs.
JOURNAL ARTICLE:
Vendor management offices are just one way to ensure an organization's effective use of outside resources. CIOs share their best tactics.
PRODUCT LITERATURE:By creating standardized, electronic Supplier Compliance Manuals, you can quickly, concisely, and completely communicate the line item requirements you demand your manufacturing suppliers meet as a condition of doing business with you.
SUPPLIER RELATIONSHIP MANAGEMENT DEFINITION (continued): … its suppliers just as customer relationship management (CRM) is intended to streamline and make more effective the processes between an enterprise and its customers.
SRM includes both business practices and software and is part of the information flow component of supply chain management (SCM). SRM practices create a common frame of reference to enable effective communication between an enterprise and suppliers who may use quite different business practices and terminology. … Supplier Relationship Management definition sponsored by SearchSAP.com, powered by WhatIs.com an online computer dictionary
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