Simmeth Reviews

Simmeth Description

Supplier Relationship Management (SRM), is a collection of activities that enable more efficient, faster, cheaper, and better quality development, production, and provision products through better collaboration with suppliers and sub-providers. This definition shows that SRM can improve not only the enterprise's strategic purchasing process but also its market position. Good SRM results in faster access to markets, better products, more innovative processes, lower costs, targeted selection of suppliers and materials, and, last but not least, sinking failure cost. There are many arguments against SRM, including the need to reduce supplier evaluation to the minimum required by audits. The core of these arguments are operative reasons like lack of time, budgets, IT infrastructure, and personnel.