Supplier relationship management is a coordinated effort to identify and develop the best suppliers able to support the overall business strategy. Supplier relationship management programs are used for engaging high-value suppliers. But poor program design and lack of engagement from key internal and external stakeholders cause many supplier relationship management programs to fail. This can lead to lost credibility with business partners and the supplier base.
Sourcing and procurement leaders should follow Gartner’s 4-step framework to implement a supplier relationship management program that delivers the greatest value to the organization. Download the guide to map out your implementation plan.
- Define program scope and supplier value
- Align key stakeholders
- Manage supplier interactions
- Enable continuous improvement