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supplier relationship management

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- Supplier relationship management is a comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services it uses. The goal of supplier relationship management (SRM) is to streamline and make more effective the processes between an enterprise and its suppliers just as customer relationship management (CRM) is intended to streamline and make more effective the processes between an enterprise and its customers.

SRM includes both business practices and software and is part of the information flow component of supply chain management (SCM). SRM practices create a common frame of reference to enable effective communication between an enterprise and suppliers who may use quite different business practices and terminology. As a result, SRM increases the efficiency of processes associated with acquiring goods and services, managing inventory, and processing materials.

According to proponents, the use of SRM software can lead to lower production costs and a higher quality, but lower priced end product. SRM products are available from a number of vendors, including 12 Technologies, Manugistics, PeopleSoft, and SAP.

Getting started with supplier relationship management

To explore how supplier relationship management is used in the enterprise, here are some additional resources:

FAQ: mySAP SRM: Get the answers to the most frequently asked questions about SRM.

Podcast: The state of SAP SRM: Learn about the basics of SAP SRM.

Featured Topic: Focus on SRM/SCM: This collection of SAP SRM resources includes an introduction to the technology and advice for those working with it.

How to get ROI from SAP's SRM: Learn about the top 10 tips for SRM success.

Configuring WF for SAP SRM: Learn how to configure workflow for SAP SRM.

Learn more about SAP supplier relationship management software

SCM and SRM: Looking for information on Supply Chain Management and Supplier Relationship Management solutions? This week we examine what SAP and others have to offer.
15. Account assignment in SRM: Learn the response to the fifteenth question in SearchSAP.com's exclusive SRM quiz.
14. SRM 4.0: Learn the response to the fourteenth question in SearchSAP.com's exclusive SRM quiz.
13. OCI interface: Learn the response to the thirteenth question in SearchSAP.com's exclusive SRM quiz.
12. SRM master data: Learn the response to the twelfth question in SearchSAP.com's exclusive SRM quiz.

LAST UPDATED:

24 Sep 2008

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More resources from around the web:

-	iSource provides an article, "The Essentials of Supplier Relationship Management."

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