Supplier Relationship Management (SRM) has undergone rapid development. It is no longer about minimizing the cost of separate transactions, but about maximizing the value of complete supplier engagement. Leading executives are recognizing that developing effective Suppliers Relationships with key providers can deliver substantial commercial benefits to both sides. For example, the supplier who is part of SRM program is much more likely to come to the client with a technical innovation, rather than the client who adopts the traditional arm’s length approach.

The process enables clients to facilitate and manage a Supplier Relation Management (SRM) improvement process, between the client and its key strategic suppliers and partners. The methodology should include facilitated workshops between the client and their major suppliers and the use of especially developed on line diagnostic tools, workshop days and robust KPI metrics. These events need to be facilitated by experienced SRM experts and who act as the “arbitrators” of best SRM practice. The process should include support, guidance, and training on how to close the gap between the desired and actual level of performance in each of the key metrics. The purpose of these ongoing and regular reviews and workshops is to maintain momentum and measure, record, track and continuously improve the overall performance in terms the defined metrics, for example