SRM SOFTWARE
In an era of rapidly-advancing technology , supplier relationship management ( SRM ) programmes have emerged as indispensable tools for organisations striving for excellence in supply chain management .
These sophisticated systems are pivotal when it comes to optimising supplier relationships , streamlining procurement processes , mitigating risks , fostering innovation and achieving strategic objectives .
Particularly for large enterprises grappling with complex supplier ecosystems and high procurement volumes , these systems offer invaluable support .
Clearly , as technology evolves , new challenges and opportunities emerge in the realm of SRM .
Procurement Magazine speaks to experts from leading organisations to delve deeper into the nuances of unlocking value in this area .
Traditional SRM challenges The implementation of SRM programmes has the potential to cause numerous problems that must be addressed effectively to ensure their success . These include a lack of supplier visibility , when accurate and comprehensive information is hard to obtain , and supplier performance measurement , which makes it a challenge to identify areas for improvement and recognise top-performing suppliers .
Shannon Kirk , Global Director of Legal Industry Solutions at Icertis , is well placed to comment on SRM .
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