Unlocking the Hidden Value in Your Supply Base
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The term ‘SRM’ holds different meanings to different people and this book seeks to bring clarity here. Supplier Relationship Management is a strategic, organization-wide philosophy, that brings together a series of discrete supplier and supply chain approaches including supplier performance measurement (SPM), supplier improvement & development (SI&D), supply chain management (SCM) and strategic collaborative relationships (SCR).
SRM provides the means to select and integrate these different components according to how an individual supplier or a supply chain can add value to a business. SRM is therefore an ensemble of complementary supply base interventions, determined and coordinated strategically according to corporate aims and objectives.