Supplier relationship management (SRM) is a method commonly used by organizations to ensure suppliers adhere to contract terms and procurement objectives.
In a survey conducted by APQC and SCMR with 128 respondents, 40 percent of organizations currently use SRM. Of those not using it, 68 percent say it is extremely to moderately likely that they will implement SRM in the near future.
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APQC recommends that organizations evaluate their key supplier relationships and select the sourcing business model that best fits. Sourcing models can evolve over time as the business changes and events occur. The key is to know when to use the right sourcing business model for the right situation; each serves a different purpose and will garner different results and drive different behaviors from suppliers.
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