SAP SRM (Supplier Relationship Management)
Strengthen the intangible bond in the supplier value chain.
Success of any manufacturing company or OEM business can be attributed to the business relationship they maintain with the vendors or suppliers. Quality of an end product by a manufacturer is the sum quality of all sub-parts provided by suppliers - this simple fact elucidates the importance of establishing and managing a trusted supplier chain network. Also, timely availability of sub-parts actually determine the time-to-market cycle which is critical for product success. Traditional vendor management software acts only a database to maintain supplier data and manage invoices. It lacks a holistic platform that seamlessly connect OEM’s with suppliers in real time that’ll lead to a better procurement strategy.
SAP SRM help organizations to strengthen their relationship with procurement vendors or suppliers. The processes in SRM are designed in such way that it integrates OEM with supplier and allows both to support each other to create the business synergy. With SRM in place, you can predict purchasing pattern, cut down procurement cycles and foster a long-term relationship with your suppliers.