Benchmark your SRM activities

11 July 2012
Supplier relationship management (SRM) is about developing two-way, mutually beneficial relationships with the most strategic supply partners that deliver greater levels of innovation and competitive advantage than could be achieved by operating independently. It consists of collaborative and relationship-building activities that are additional and complementary to supplier performance and contract management activities performed throughout the procurement lifecycle. State of Flux has launched the fourth annual Global SRM Survey 2012 divided into two areas – a buy-side survey to validate the procurement and supply chain perspective and a sell-side survey that captures the account team perspective of SRM. The research is designed to give you the ability to benchmark your SRM activities against some global leaders and your peer group and already some of the world’s largest organisations have responded. Last year more than 300 companies took part and used the results to inform their supplier programmes, so get involved and complete the survey before it closes at the end of this month. The Global SRM Survey 2012 covers: • How suppliers are benefiting from participation in SRM programmes. • The extent to which SRM programmes aid the working of strategic relationships in practice. • Key success factors, and barriers, to effective collaboration and co-innovation. • Customer behaviours, practices and dynamics that suppliers value the most. Early indications show: • Buyers are seeing cost and risk reduction as key. They also recognise suppliers’ innovative ideas as a chief benefit of SRM programmes, listed only behind cost and risk reduction. • Suppliers see the opportunity to sell additional adjacent services to their strategic customers, bringing the two parties closer together and realising additional value. They also recognise the benefit of better access to senior stakeholders, greater trust and engagement when working on continuous improvement ideas. Your responses will be treated confidentially and every participant will receive a complimentary copy of the report later in the year. This will contain full results, objective analysis and a comparison with available sell-side responses. By inviting your key suppliers to take part in the survey you will be helping to create the most balanced perspective yet of the current state of SRM. Read more about the past State of Flux Global SRM Surveys in Supply Management: News focus: Yes, that’s close enough 11 January 2012. SRM leaders reap rewards 7 November 2011. What does good SRM look like? 11 November 2010. 6 steps to better SRM 3 August 2009. ☛ Alan Day is chairman of procurement and supply chain consultancy State of Flux. Click here for the SRM microsite.
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