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How you will build up Supplier Relationship Management (SRM)?

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Question added by Absar Uddin Rubel , Senior Executive, Procurement , BAIZID STEEL INDUSTRIES LTD
Date Posted: 2014/07/08
Jayasree Natarajan
by Jayasree Natarajan , Procurement Specialist , Caterpillar India Pvt Ltd.

Partnering with suppliers and integrating supplier relationship methodology into strategic sourcing initiatives improves supply chain effectiveness and customer service.Strategic relationships require time, trust, mutual understanding, regular and consistent communications, and mutual commitment to establish a long-term relationship.Joint identification and implementation of tools/technology with supply chain partners lays the foundation for a collaborative environment.

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