SRM stands for Supplier Relationship Management and describes the strategic planning and central control of a company's ties with its suppliers.
Brief description
SRM illustrates all the steps from planning through execution to controlling of supplier linkages and belonging master data in one system. The main purpose of using SRM is to closely link all suppliers to the company, as well as to support purchasing during the total implementation of procurement processes. In this system there is a central linking and management of sourcing and all purchasing data, which becomes available in all applications of the system.
SRM is primarily used for the following purposes :
