Supplier Development and SRM

Three P held its first breakfast seminar about SRM and how it contributes value to the development of both the company and the suppliers. It was a great turnout and we had the pleasure of both meeting new and acquaint participants.

We talked about SRM (Supplier Relationship Management) and Supplier Development and its way of adding value to the business and how it helps develop an alternative, enhanced, relationship between Suppliers and Customers. We saw during the pandemic many examples of how some Customers managed to keep their production running through utilizing the investment in the Customer/Supplier relationship to get priority for delivery of parts, services and products during the shortage through this.

However, supplier development and SRM is not for all Suppliers. First there is a need to select the ones that you believe will contribute most to the company and are worth the investment in time. And when you talk about investments, you can either create value through focusing on e.g.:

- Product development

- Process development

- Value creation

- Sustainability and CSR

- Relationship enhancement and focus

The presentation delivered during the seminar was one of the chapters from one of the educational programs Three P offers for Category Management and Business Acumen. If you want to know more about SRM and Supplier Development, contact us and we can give both you and your colleagues a thorough walkthrough of both theories and practical examples.

Once again, thanks to all participants, and keep posted for our next breakfast seminar.