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Supplier Relationship Management (SRM) is a supplier relationship management system. The solutions of this class are aimed at the tasks of strategic selection of suppliers, selection of new types of developed products from possible alternatives, implementation of the entire procurement cycle, including an electronic trading platform, as well as operational monitoring and assessment of suppliers.
Integrated proposal to automate purchasing-to-payment processes for goods and services. The solution is focused on optimizing business processes and reducing the total costs associated with procurement and procurement of services by enterprises of all sizes. By combining capabilities for analyzing, evaluating and ranking suppliers, consolidating procurement needs for goods and services, building strategies and forecasting the effectiveness of interaction with suppliers through traditional and electronic channels, the solution helps identify the optimal partners that best meet the requirements of the company's business.
To ensure that profits are made on an ongoing basis, businesses need to have a balanced procurement cost management system. If the company is able to reduce the cost of purchasing goods and services, the result will be an increase in profitability - without compromising quality and even without increasing sales volumes. The solution allows you to automate all processes that combine the selection of sources of supply and the actual procurement activity. At the same time, the solution allows you to increase the transparency of the supply network and provide management with an interactive overview of all procurement costs. The solution allows you to control the entire supply cycle, from strategic planning to implementation. It allows you to optimize the process of selecting suppliers and reduce the duration of supply cycles.
In Russia, supplier relationship management systems or as it is customary to call Supplier Relationship Management (SRM) in the West (not to be confused with CRM), as a rule, mean everything that is somehow related to the automation of procurement activities - from planning needs and supplier certification to direct supply and control of contract execution. It can also include tenders and requests for commercial information on an electronic trading platform (ETP), operational monitoring, analytics and other related processes.
- [[Study_TAdviser:_Informatization of_purchases_in_Russian_companies' Automation of purchases in Russian commercial companies
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