ASIA well as SAP based e-procurement , covering Supplier Relationship Management ( SRM ), Contract Lifecycle Management ( CLM ), Spend Performance Management ( SPM ), Supplier Lifecycle Management ( SLC ), Material Data Master ( MDM ) and other functional modules . This resulted in saving a lot of time and resources in addition to providing the above-mentioned benefits suppliers , which can boost the performance of the organization .”
• Invest in supplier relationship management software .
• Demonstrate to your suppliers that you ’ re a good customer .
• Curtail number of vendors / channels and work with optimum / consistent performers only .
• Keep lines of communication open .
SUPPLIERS SELECTION Supplier Relationship Management ( SRM ) consists of managing and planning constructive interactions with the third-party vendors that supply and support your business with goods and services . This is an important part of both SCM and effective business management .
“ When you collaborate effectively with your suppliers , the entire supply chain process , including managing inventory and acquiring goods and services , will run smoother and be more efficient ,” Ansari explains . “ Following four steps are a key to building relationships and partnerships with your
THE FUTURE OF SUPPLY CHAIN Procurement as a function is on a continuous journey toward greater importance and influence . As it has already evolved beyond its transactional and back-office roots , the role is becoming more and more of a strategic player , focused on total value delivered including supporting revenue goals , reducing total cost of ownership and improving quality and integration of supply , taking on increasing enterprise responsibility of the end-to-end , source-to-pay process . “ In a nutshell , it ’ s no more merely a Supply Chain but becoming value chain already ,” Mr . Ansari concludes .
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