{"id":9839,"date":"2021-10-26T09:16:43","date_gmt":"2021-10-26T16:16:43","guid":{"rendered":"https:\/\/www.qad.com\/blog\/?p=9839"},"modified":"2024-10-07T08:57:46","modified_gmt":"2024-10-07T15:57:46","slug":"qad-srm-an-introduction","status":"publish","type":"post","link":"https:\/\/www.qad.com\/blog\/2021\/10\/qad-srm-an-introduction","title":{"rendered":"QAD SRM: An Introduction"},"content":{"rendered":"

[vc_row][vc_column][vc_single_image image=”9840″ img_size=”full”][vc_column_text]Manufacturers are realizing the benefits of tightening relationships with suppliers to better manage the procurement of goods and lower supply costs. Collaborative processes transform a typical transaction-based association with suppliers into two-way access and a mutually beneficial relationship. This helps align key values to build <\/span>continuous innovation<\/span><\/a>, lower inbound supply costs and <\/span>improve supplier performance<\/span><\/a>. Both parties gain from accurate and timely access to product design, sourcing, order, shipment and other related information.\u00a0<\/span><\/p>\n

Supplier Relationship Challenges<\/span><\/h2>\n

It\u2019s still common for manufacturers to conduct <\/span>sourcing<\/span><\/a> and supplier management activities with a mix of spreadsheets, emails, phone calls and buyers\u2019 memories to track hundreds of supplier details. Resulting issues from manual efforts include a lack of process governance and overlooked supplier insights. Missed opportunities for manufacturers not only include an inability to address supplier quality during the evaluation process, but also supplier performance and supplier development opportunities that could add business value.<\/span><\/p>\n

Manufacturers we work with consistently mention their desire for a single source of truth that improves decision making with suppliers based on the same set of information. Along with the global and swiftly changing nature of <\/span>sourcing<\/span><\/a>, inbound supply challenges include:<\/span><\/p>\n