Enabling Supplier Innovation - Building the Business Case for SRM (Part 3)

Reducing Supplier Risk - Building the Business Case for SRM (Part 4)

In this post in our series on developing the business case for investing in supplier relationship management (SRM) capabilities, we focus on reducing supplier risk. (Catch up on the first three entries here, as well as the introduction.) Supplier qualification (SQ), a subcomponent of SRM, enables your organization to identify suppliers with weak quality management processes, thereby minimizing your exposure to supplier noncompliance with safety, insurance, environmental and s

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Help your Suppliers Shine

The Three Eras of Modern Procurement - Which are you living in?

Enabling Supplier Innovation - Building the Business Case for SRM (Part 3)

Procurement Needs Less Strategy and More Tactics: Lessons I Learned in the U.S. Navy

December 01, 2016

Supplier Relationship Management Insights by ISM

The term "supplier relationship management (SRM)" refers to the practice and process for interacting with suppliers. Most supply professionals view SRM as an organized approach to defining what they need and want from a supplier and establishing and managing the company-to-company (or procurement-to-sales) link to obtain these needs. Even when there is no conscious procurement-to-supplier's sales link, there still are practices and processes in play — informal as they might be. Formal or not, academic and consulting company research shows that organized approaches to supply and suppliers produce positive sourcing results.

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October 04, 2016

How to Really Get a 360-Degree View of Your Suppliers By Spend Matters

Having a 360-degree view of your supplier is the notion that you are considering your supplier from every possible angle: value, quality, risk, compliance, diversity, and most importantly, their ongoing performance. Back in the day, a supplier was evaluated on price alone. Now, with all the data and systems we have, alongside the ability to integrate all of these systems together, we are able to evaluate our suppliers well beyond price and move to total value that considers all of the aforementioned criteria. By having a 360-degree view, you eliminate a lot of blind spots, and aren’t typically caught off-guard when something does go wrong.

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