Supplier Relationship Management: The Key to Future Success
European Leaders in Procurement
The questi on of how best to manage suppliers has been at the heart of debate in procurement circles for as long as the function has been recognised as a distinct area of expertise. Indeed, as participants in the latest executive roundtable discussion set up by European Leaders in Procurement and chaired by its editor, Mark Perera, suggested, the concept of supplier relationship management is not new.
But SRM has attracted greater interest recently, perhaps because organisations are recognising it as the next stage in the development of a procurement strategy once they have completed the selection of suppliers in a strategic sourcing exercise.
It seemed, therefore, a good time to air some of the issues involved in SRM. The roundtable, held in London, began by asking what is meant by the term before going on to examine several key issues including the role played by cost-cutting, risk, how to implement an SRM strategy and what the future holds.
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