Leveraging Supplier Relationship Management to Improve Business Outcomes

Supplier relationship management (SRM) has become increasingly crucial for businesses as they strive to gain a competitive edge in the market. SRM is a strategic approach to managing relationships with suppliers and partners, from identifying potential new sources of supply to developing long-term partnerships that create value for all stakeholders. It requires an understanding of both the customers’ and suppliers’ needs so that all parties can benefit from mutually beneficial working relationships.

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