SUPPLIER RELATIONSHIP MANAGEMENT HAS BECOME AN AREA IN ITS OWN RIGHT , GAINING TRACTION DUE TO MANY IMPORTANT EVENTS IN ITS HISTORY . SRM IS NOW CRITICAL TO EVERY VIABLE PROCUREMENT PROGRAM AND BEYOND

Supply chain risk management born in earnest

The global financial crisis prompts companies to re-evaluate their risk management practices and strengthen supplier relationships .

Use of supplier scorecards

Companies begin to use scorecards and performance metrics to monitor supplier performance on aspects such as quality , on-time delivery , and responsiveness to identify areas of risk and improvement

COVID-19 and Ukraine war impact

Global geopolitical events such as the pandemic and the war in Ukraine highlight the critical importance of robust SRM as companies struggle with supply chain disruptions and supply chain risk .

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