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The Supplier Relationship Management (SRM) is enabling multiple levels of suppliers, partners, and manufacturers to work together on the following core supply processes.
Enterprises need to understand the key components of the SRM:
- Sourcing
- Procurement
- Supplier enablement
Sourcing: Expanding the role of e-procurement to the next level of added value in the complete purchasing cycle by automating sourcing functions.
Procurement: Execute the operational activities of procurement, including requisitioning, ordering, receiving, and financial settlement.
Supplier enablement: Bridge suppliers to your purchasing processes via Supplier Network or through the supplier portal or other means.
Implementing the effective SRM program will enhance:
An Enterprise to tap into new value through better business planning, more effective category management, improved supplier qualification, more efficient supplier negotiation, and better contract management
By integrating the catalog-based requisitioning with your traditional procure-to-pay process and gain the benefits of e-procurement without losing your back-end enterprise resource planning processes
By selecting the optimal interaction channel for numerous business processes and documents and collaborate more effectively with suppliers in supplier-facing processes
Abms can help you design a long-term foundation to secure the cost and quality advantages of center-led purchasing and broadened supplier involvement for enduring value and long-term results.
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