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Supplier Relationship Management (SRM)
Rating: 4.1 out of 5(41 ratings)
116 students

Supplier Relationship Management (SRM)

Supplier relationship management (SRM) is the process of identifying the suppliers that are critical to a business
Created bye3 Business
Last updated 4/2023
English
English [Auto],

What you'll learn

  • Why SRM?
  • What is SRM?
  • SRM Components.
  • SRM Elements.
  • SRM Categorization
  • SRM Process
  • SRM Benefits
  • SRM Types & Solutions
  • How to Implement SRM
  • SRM Potential Drawbacks

Explore related topics

Course content

2 sections • 17 lectures • 1h 48m total length

  • Introduction6:05

    Explore how supplier relationship management integrates procurement, operations, and distribution across the full supply chain, using multi-tier supplier networks to build value, resilience, and profitability in crisis times.

  • What is SRM - Part 16:33

    Explore how supplier relationship management strategically plans interactions with third-party suppliers to create value, competitive advantage, and sustainable growth through contracts and trust.

  • What is SRM - Part 27:27

    Explore how supplier relationship management builds sustainable, trusted partnerships with key suppliers to maximize value, reduce risk, and navigate crisis through collaboration, technology, and end-to-end tracking.

  • Early SRM Solutions6:06

    Supplier relationship management marks the strategic shift from procurement to supply chain management, showing how SRM cuts inventory costs via partial shipments and trusted supplier partnerships.

  • Reactive and Strategic SRM approaches11:05

    Develop reactive and strategic supplier relationship management to prevent crises and ensure continuous material flow. Build relationships with multiple suppliers early to secure competitive advantage through reliable, collaborative partnerships.

  • Supply Chain Activities Sequence5:14

    Explore how supplier relationship management shapes procurement cycle in the supply chain by adding value from raw materials to finished goods and focusing on the seven rs of the customer.

  • Procurement Strategy7:58

    Discover how to craft a procurement strategy using corporate targets, market analysis, and gap planning; align supplier relationships with SRM to optimize sourcing, lead times, and value across operations.

  • The Transformation Process5:16

    Learn how inputs transform into goods or services through a value-adding process guided by measurement and feedback, where procurement and supplier relationships influence operation and product development.

Requirements

  • No experience needed. You will learn everything you need to know

Description

Supplier relationship management (SRM) is the process of identifying the suppliers that are critical to a business and implementing a system of managing relationships with those key suppliers. As supply chains become more complicated, the need to develop clear, measurable ways to evaluate how every supplier either contributes to or detracts from the success of a business is more important than ever before.


Your entire business is based on the first stages of production, which in turn depends on your relationship with suppliers and the mechanism for organizing dealing with them; A task like that requires a high degree of professionalism, along with a great deal of intelligence and experience in dealing.


Through the supplier relationship management course, we will help you create successful relationships that will last forever, so that you can move your company forward without fear of disrupting or stopping your business.


At the end of the Supplier Relationship Management course, you will be able to understand the correct handling mechanism to achieve the highest level of productivity and quality. You will be able to understand the purchasing management strategy as well as operations management. How do you deal with supplier management and what are the effective means to apply it?


By the end of this course you will be able to understand:


  • Why SRM?

  • What is SRM?

  • SRM Components.

  • SRM Elements.

  • SRM Categorization

  • SRM Process

  • SRM Benefits

  • SRM Types & Solutions

  • How to Implement SRM

  • SRM Potential Drawbacks


Who this course is for:

  • Managers and professionals involved in purchasing, projects, contracts, supply management, operations, maintenance, engineering, quality, and other activities that expose them to dealings with suppliers for goods.

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