Supply Relationship Management
A Structured Approach to Supplier Relationship Management (SRM)
By managing the suppliers, vendors, and third parties that support your organisations with products and services you can secure operational success. As our clients needs evolve alongside growth, regulatory drivers, austerity, etc., supplier relationship management can become a complicated task. Lack of consistent supply relationship management and communications with key vendors can decrease contract value while exposing your business to risk.
Odesma can advance your procurement, supply chain, and sourcing operations by getting the most through innovative supplier, vendor, and third party supply relationship management.
Strategic sourcing and procurement is now often charged with driving greater value from supplier relationships throughout the contract life cycle. Your organisation needs a structure that provides guidance in efficiently managing supplier relationship management to improve performance, address risk, and ensures return on investment (ROI).
Supplier relationship management (SRM) works on a common set of practices and processes that drive consistent interactions and open communications between the supplier and buyer. Supplier relationship management is much more than providing a set of tools that refine department operations, supplier relationship management programs build new capabilities that enable strategic sourcing and procurement to make the most of their supplier relationships.
Just a few quick thoughts on the subject of risk mitigation in the supply chain. As we move forward into the new business as usual this will be front of mind for procurement and supply chain leaders. Supplier vulnerabilities have been exposed through COVID – 19, with...