What is Supplier Relationship Management? & Why It's important for MRO Data Classification
Supplier Relationship Management or SRM functions as a highly systematic approach for assessing and analyzing the contributions of the suppliers for the growth and prosperity of a business. With the right kind of supplier relationship management efforts, you can determine which of the suppliers play the most important part in the success of your enterprise and which of them are not. You can also come up with better strategies to manage your supply chain so that they keep on delivering the best support to your enterprise. It is a well-known fact that with the optimum Supplier Relationship Management, you can not only increase the stimulusof your enterprise on the market, but also be in a healthier position to deal with any kind of competition. The supply chain management department typically makes use of the SRM tacticsin carrying forward business operations and procurement. They also play a dynamic role in project management supplier master data management . The other spher...