Supplier Relationship Management is the strategic approach to managing your company’s interactions with suppliers. It’s about developing mutually beneficial relationships that improve both parties’ performance and growth. SRM is crucial for ensuring a stable, reliable, and high-quality supply chain.
We don’t just ask if your supply chain is as strong as it could be – we ensure it is. Our ‘Supplier Management Relationship’ service is designed to transform your supplier interactions into strategic partnerships.
Can Alt-Source help in organizing and prioritizing different procurement categories and types?
Absolutely. Organizing and prioritizing procurement activities are crucial for efficient operations. We assist in categorizing and organizing your procurement items. This includes differentiating between strategic and non-strategic procurement and managing indirect and direct procurement separately to ensure that resources are allocated wisely.
How We WorkWith you and For You
We recognize that effective supplier management is fundamental for business operations, extending well beyond basic procurement. It’s about strategically aligning with suppliers to create a collaborative ecosystem that resonates with your business objectives and drives mutual growth.
Categorizing suppliers based on various criteria such as spend, risk, strategic value, and impact on product quality or business growth. This helps in determining the level of attention and resources to be allocated to different suppliers.
Establishing key performance indicators (KPIs) and regularly assessing suppliers against these metrics. This step often involves performance reviews, feedback sessions, and development of improvement plans.
Identifying, assessing, and mitigating risks associated with each supplier. This includes risks related to supply chain disruptions, financial stability, compliance, and reputation.
Managing the contract lifecycle from initiation through performance monitoring to renewal or termination. This includes ensuring compliance with contract terms and negotiating changes or improvements as needed.
Working closely with key suppliers to align business plans, forecast demand, and plan supply. This collaboration can lead to improved inventory management, reduced costs, and better response to market changes.
Our service uniquely combines supplier development, relationship building, and integration. We focus on enhancing supplier capabilities through training and joint initiatives, fostering strong, trust-based partnerships, and aligning supplier goals with your business objectives. This approach not only strengthens your supply chain but also cultivates a collaborative environment for innovation, driving your competitive advantage
Developing clear strategies for disengaging with suppliers when necessary, in a manner that minimizes risk and maintains good relations.
Benefits for you
Aligning suppliers with your business goals for a synergistic partnership.Ensuring suppliers meet your standards and contribute positively to your business.
Achieving optimal terms and value from supplier relationships.
Building a robust supply chain capable of adapting to changes.
Fostering partnerships that drive innovation and mutual growth.
Reducing the potential risks associated with supply chain disruptions and supplier non-compliance
Interested?
You can complete the following form to contact us about our services.