Supplier Relationship Management: Tapping the Power of Top Performance in SRM
As more responsibilities for innovation and operations are offloaded to third parties, procurement organizations are shifting their focus toward supplier collaboration and innovation. Interest in this trend and what it takes to be a top performer is the driver behind The Hackett Group’s first research study on supplier relationship management (SRM). Evaluating over three dozen procurement capabilities, the study found that SRM is bringing extensive benefits at all companies studied, not just the top performers, where it delivers 45% of total procurement value.
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As more responsibilities for innovation and operations are offloaded to third parties, procurement organizations are shifting their focus toward supplier collaboration and innovation. Interest in this trend and what it takes to be a top performer is the driver behind The Hackett Group’s first research study on supplier relationship management (SRM). Evaluating over three dozen procurement capabilities, the study found that SRM is bringing extensive benefits at all companies studied, not just the top performers, where it delivers 45% of total procurement value.