Finance

Gartner Glossary

Supplier Relationship Management (SRM)

Supplier relationship management (SRM) is a business initiative that many companies undertake to build mutually beneficial relationships with suppliers. Well-designed SRM programs help companies to increase collaboration by identifying the right suppliers with whom to partner. Top business drivers for implementing SRM include cost optimization, risk mitigation, top-line growth from supplier innovation, operational process improvements and preferential treatment from suppliers as a customer of choice.

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