A Step-by-Step Overview of the Supplier Relationship Management (SRM) Process for Procurement Leade
Procurement professionals need a clear framework to manage supplier relationships effectively. This article provides a step-by-step overview of the Supplier Relationship Management (SRM) process, covering key stages like segmentation, collaboration, risk assessment, and review. With each step designed to align supplier performance with business goals, SRM helps create proactive, rather than reactive, supply networks. Adopting this method ensures reliability, compliance, and long-term value creation.