What Is Supplier Relationship Management Software?
Supplier relationship management (SRM) applications link trading partners and allow them to share information bidirectionally. These partners include suppliers, manufacturers, distributors, and the associated trading partners involved. SRM solutions act as a repository of supplier information that can be accessed from a central database.
Supplier Relationship Management Software Business Drivers and Benefits
Manage and control sourcing and spending costs.
Audit suppliers by measuring their performances according to stipulated service level agreements (SLAs).
Manage globalization efforts by allowing the partners to access information over the Web, or through the use of Web services and Internet technologies.
Increase inventory visibility by allowing suppliers to know where inventory is, and when it will arrive at its destination.
Supplier Relationship Management Software Risks
Decreased global supplier trading due to breakdowns in communication.
Increasing spending costs.
Breakdown of SLA requirements between suppliers and manufacturers or distributors.
Why Use the Supplier Relationship Management Software Evaluation Center?
Compare and evaluate SRM software packages based on your needs, as well as those of your suppliers.
The SRM evaluation model represents a clear view of suppliers and distributors, and can match this with leading SRM software.
Ensure that the SRM system you select can handle multiple SLAs with flexibility.
Most Requested Research Related to Supplier Relationship Management
"Your people, [TEC] and your product [TEC's decision support system] allowed Racal to quickly focus on a highly qualified group of suppliers."
- Greg Cruzan, chief technology officer, Racal Instruments Inc.
"I am delighted with the role that TEC has played in our search for the right system... and could not recommend [it] highly enough."
- Sean Reilly, IT manager, Largo Foods
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