Managing relationships with suppliers can be complicated, but it is also important to the overall performance of the company. In many cases, the answer is as simple as choosing a software tool that can help streamline supplier relationship management (SRM).
As businesses are starting to realize, suppliers are an essential part of success. Without the right materials being delivered in a timely fashion, a manufacturing plant can literally come to a complete halt. Without reliable shipping agents, none of the created goods can reach their destination on time and in good condition.
All successful companies build strong relationships with their suppliers. Companies are not isolated entities that simply purchase goods and services from individuals who happen to be able to supply them at that particular time.
For all the talk about supply chains and e-procurement, many companies still have not seen the real benefits of either of these business approaches. The reason is not the technology. The reason is that dealing with suppliers and managing that relationship can be tricky even under the best of circumstances
Supplier Relationship Management (SRM) may not have had a strong following a few years ago, but today more businesses are moving toward the implementation of software that helps streamline those connections so that both vendors and buyers can reap the benefits of the technology.