Supplier Relationship Management (SRM) is a comprehensive approach to procurement managing and capturing the post contract value from key business relationships. SRM enables procurement to operate at a strategic level and by adopting a more collaborative approach and developing a closer relationship; this generates more value from the relationship in terms of innovation and efficiency. However, this does involve more time therefore assessment should be carried out as to whether the potential value is greater than the cost of the time required.
The Government needs strong negotiators and that’s right in our space.
At 52.6 in October, the seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI® ) edged up from 52.3 in September.
CIPS comments after last night's investigative panorama programme
The CIPS/Hays Procurement Salary Guide and Insight 2016 report benchmarks salaries and bonuses for different roles and profiles, and offers insight into career paths within procurement for permanent and interim contracts. Responses were received from the UK,...
The relevance of this partnership stems from solar energy’s emergence as a mainstream energy source.
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Frequent interactions and close relationships with suppliers can have a positive effect on the exchange and flow of information and knowledge, and thus can improve...
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Reducing an organisation’s supplier base is often a key aim of any procurement professional in a new role. It is always assumed ... that aggregation is right and...
SCM is strategic thinking: Effective SCM improves both efficiency and effectiveness in a strategic context (Quiett, 2002)
For more information and context around the models please refer to the Purchasing Models Handbook.