Jul 16, 2020

Top 10 Supplier Relationship Management (SRM) Strategies

Sean Galea-Pace
4 min
SRM
t’s important to establish and maintain strong and regular communication with all suppliers.
10
Get everyone onboard...

Having a Supplier Relationship Management Process is key but getting everyone in your company onboard is vital. Following a report by American Express and AT Kearney, $533bn annually is spent outside of proper procurement channels, which is called maverick spending. The report stated that while 95% of firms surveyed had preferred supplier lists, just 50% of them had procurement systems in place. 

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