SRM
“ Both SRM along with category management have become increasingly important as an operating model for organisations hoping to navigate the turmoil ”
ANDREA GREENWALD SENIOR DIRECTOR ANALYST FOR GARTNER ’ S PROCUREMENT ADVISORY PRACTICE
Other challenges to be aware of include :
• Different business cultures . With many organisations sourcing overseas , understanding cultures can be difficult and is something to bear in mind to help build a stronger relationship .
• Corporate social responsibility ( CSR ) and compliance . It ’ s mutually beneficial for both parties to understand and meet the ethical , social , and environmental standards set out by the organisation itself and the government of the operating country . As well as ensuring that regulatory , environmental , and manufacturing standards are met . Ultimately , SRM is all about creating value that is mutually beneficial . It is a strategy that can - and in Greenwald ’ s opinion – “ is better to be conducted in-house since influence is the magic ingredient to make it all work ”. Once a relationship has been developed
84 July 2023