4.7.5 Supplier Relationship Management (SRM)
SRM is a mutually beneficial two-way process in that it should improve the performance of both the buying and the supplying organisations. It involves proactively developing relationships with particular suppliers. This module should explore how to deal with suppliers in all areas of spend, focusing around relationships themselves, their complexities, and how to repair or manage a dysfunctional relationship. The term supplier relationship management should be reserved for the more complex relationship development associated with period contracts, rather than the more straightforward performance management of individual orders.