Definition
A strategic approach to managing interactions with suppliers to streamline procurement processes, enhance supplier performance, and foster collaboration.
Learn more about SRM
The 2025 State of Procurement Report by Amazon Business demonstrates how procurement can help innovation, resilience, and sustainability, even as just 46% of leaders believe procurement is included in top-level discussions.
Since procurement touches all aspects of an organization, effective communication with both internal and external audiences becomes paramount to organizational success.
HICX survey finds 98% of suppliers say their communications with their largest customers is in need of improvement, hampering supply chain improvement processes.
While most businesses assume higher procurement supplier spend equals to higher risk, an MIT CTL research study found that is not always the case.
With modern procurement software, API-enabled data flows, and AI-guided processes, procurement teams get to focus on what they do best: setting strategy, managing projects, and identifying spending optimization opportunities.
In a commoditized world, execution is the new competitive edge, and this includes working with suppliers and vendors to unleash new technologies and create unique products.
A conversation with Len DeCandia, Former Global CPO J&J
In an unpredictable, customer-driven world, we are painfully learning the impact of ignoring enterprise-wide supplier relationships
The next time you go to market, make sure you are using the most appropriate competitive bidding method to help you get the best results.
Past negotiation strategies often develop the future negotiation strategy expectations of their suppliers and how buyers perceive the performance of their supply partners.
