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Supplier Relationship Management

Supplier Relationship Management (SRM) is a comprehensive approach to procurement managing and capturing the post contract value from key business relationships. SRM enables procurement to operate at a strategic level and by adopting a more collaborative approach and developing a closer relationship; this generates more value from the relationship in terms of innovation and efficiency. However, this does involve more time therefore assessment should be carried out as to whether the potential value is greater than the cost of the time required.

CIPS Procurement Content

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