Strategic Sourcing And Supplier Relationship Management
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Procurement professionals face the same incoming tide of problems every day: make sure there are no shortages to interrupt production, reduce costs, resolve problems with suppliers, reduce leadtimes, and, if time permits, work on strategic sourcing. Finally, there is hope for some relief. Although there is no software that totally automates a strategic sourcing methodology, there are e-procurement and supplier relationship management (SRM) systems that can save an enormous amount of time that is now spent in the repetitive and administrative activities of the procurement department. There can be more time to spend in actually developing a sourcing strategy and pursuing it. In addition, the data collected and stored by e-procurement and SRM systems provides a significant amount of supplier performance information, information that in turn can be used in making decisions about strategic sourcing.