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Getting the Most Out of SRM

Only a few years ago, supplier relationship management (SRM) was generally thought of as a software tool. That’s not surprising as SAP, Oracle, Ariba, and others have offered multiple products that bear the label “SRM.” But true SRM entails much more than purchasing new software. Done right, it’s a systematic approach to supply chain collaboration that enhances the business performance of both customers and supplier. But just as customer relationship management (CRM) has proven to be far more about creating a customer-centric culture, transforming business practices, and building new mindsets and skills than simply an IT solution, successfully implementing SRM requires significant strategic, operational, and cultural change.

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