SRM Tools


SRM tools

Supplier relationship management (SRM) involves the effective and appropriate management of a procurement professional and their supplier. Good SRM involves creating closer, more collaborative relationships to maximise value and reduce risk.

 

It is important to differentiate between SRM and Supply Chain Management (SCM). SRM is an important part of SCM to ultimately create the right relationship and environment to promote efficiencies and ultimately increase an organisation’s profitability if private  sector, increase the benefits to the people if public sector and maximise awareness of a cause if third sector.

 

SRM relates to the interaction between procurement and suppliers, strong and effective communication, managing stakeholders, being aware of risk as well as ensuring a sustainable future for the project and profession.

 

SRM tends to be at a higher level of focus in collaborative relationships rather than arm’s length and more important in strategic purchases than routine.

 

CIPS members can access the tools below to help develop the right environment and relationships with key suppliers. Sign in to access the member content below: