5 basic functions of the SRM module - Supplier relationship management
For a medium-sized company, the introduction of the Supplier Relationship Management (SRM) module represents a significant opportunity to improve procurement and supplier processes.
For a medium-sized company, the introduction of the Supplier Relationship Management (SRM) module represents a significant opportunity to improve procurement and supplier processes. ππ Unlike large corporations, where these tools are a standard part of management, medium-sized companies often struggle with inefficient communication, fragmented data, and missing records of collaboration.
π‘ Main reasons why a medium-sized company should consider implementing SRM:
π Centralization of supplier data β everything in one place, easily accessible to all relevant employees.
β Transparent supplier selection and evaluation β objective information makes decision-making easier and improves the quality of deliveries.
β³ Time savings and reduced administrative burden β automation of routine tasks, fewer emails, fewer Excel spreadsheets.
π‘οΈ Support for compliance and risk reduction β better control of contractual relationships, documents, and regulatory compliance.
π Onboarding of new suppliers β a guided process that eliminates errors and ensures partner qualification.
π Streamlined communication with suppliers β a unified environment for sharing documents, requirements, and complaints.
π― Opportunity for planning and development of cooperation β moving from reactive management to active relationship-building with key partners.
π Increased competitiveness β thanks to more efficient collaboration and better supply chain performance.
π For a medium-sized company that wants to grow, professionalize its processes, and maintain a high-quality supplier base, SRM is a natural step toward increasing the performance and stability of procurement.
π It is not just a tool, but a change of approach β from transactional management to partnership and collaboration.
Why is saving money no longer enough? Most of us who started out in purchasing in the last century remember the heroic tales of brilliant managers who managed to reduce costs by tens of percent through a combination of market power, toughness, and cunning. In this golden age of cost killers, purchasing was judged almost exclusively by parameters such as hard savings, acceleration of the purchasing process, reduction of administrative costs, and reducing the number of buyers. Unfortunately, hard savings cannot be made indefinitely.
Digital procurement is changing β flexibility, the cloud, and mobility are now key.
When people talk about the impact of AI, most companies think of sales, marketing, or internal business processes.
How many times have you looked for a quote that βmust be somewhere,β or lost track of whoβs supposed to approve the tender?
Return on investment within the first year of project implementation.*
*The ROI estimate is based on real data gathered from our clients and their successfully completed projects.
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