Home > Knowledge > Procurement Topics and Skills > SRM and SC Management > Supplier Relationship Management (SRM)

Supplier Relationship Management (SRM)

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 processes and performance (BBS, CIPS and Oracle: I-RELATE)

Information about Supplier Relationship Management (SRM)

Frequent interactions and close relationships with suppliers can have a positive effect on the exchange and flow of information and knowledge, thus improving processes and performance (BBS, CIPS and Oracle: I-RELATE) and leading to substantial rewards (Cousins et al., 2008).

In the late 1980s academics and practitioners began exploring the foundations of success of Japanese companies. They found that managers in Japanese companies treated suppliers as a valuable resource essential for their companies' success. Hence, a lot of efforts were made to sustain good relationships with suppliers. At the time this approach differed from that taken by Western companies who treated relationships with their suppliers as 'additional' to the main procurement management role (Cousins et al., 2008). Since the 1990s European and American companies have been paying more attention to relationship management in procurement. Recent trends, such as the growing complexity of technologies, global competition, and the need to search for competitive advantage are requiring even more collaborative relationships with suppliers. In many cases this means increasingly involving the suppliers and at early stages of product development (BBS, CIPS and Oracle: I-RELATE).

Return to SRM and SC Management topic.

Related events

What do procurement & supply chain workers want?

Date:

Friday 07 July 2017

Venue:

Webinar

Address:

Webinar

Fee:

Members - £0.00 per person
Non-members - £0.00 per person

View Event

Related training course

Introduction to Procurement - Two days

Date:

Wednesday 13 December 2017

Venue:

Cliftons (Sydney)

Address:

Sydney

Fee:

Members - £1540.00 per person
Non-members - £1980.00 per person

View Course

Supplier Relationship Management - Two days

Date:

Wednesday 15 November 2017

Venue:

Cliftons (Melbourne)

Address:

Melbourne

Fee:

Members - £1540.00 per person
Non-members - £1980.00 per person

View Course

Related books

relationship driven supply chain, The

relationship driven supply chain, The

Stuart Emmett and Barry Crocker

Price: £55.00

Member Price: £55.00

Saving: £0.00 (0.00%)

In Stock!

Add to basket

Related concepts

Supply Base Management (SBM)

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...

Find out more

Supply Chain Management (SCM)

SCM is strategic thinking: Effective SCM improves both efficiency and effectiveness in a strategic context (Quiett, 2002)

Find out more

Supplier Management

Using teams comes with no guarantee of better supply management performance compared with traditional work methods (Trent, 2007).

Find out more