Everyone agrees on the importance of Supplier Relationship Management (SRM) as a procurement best practice. It is recognized to be effective in building mutually beneficial, long term relationships between supplier and client. I recently interviewed a procurement executive on how to streamline SRM processes, forming an effective foundation for on-going and continuous improvement. What impressed me most was that the old processes set by her more than a decade ago are still delivering powerful results!
Naturally, I was very keen to know the details of how this long-term achievement was made possible. For those of you who may be contemplating similar moves and looking for the right inspiration, here are some of those details. The program had the following end goals in sight when they implemented it:
Understanding the program’s goals and priorities is only the first step. Results are generated by understanding and acting on the practical aspects of the program.
After listening to all this, I could only think – no wonder the system is still going strong! As a procurement manager in the thick of such operational programs and decisions, please share some initiatives which were undertaken by you with similar success.
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