Supplier Relationship Management is a comprehensive approach to managing an enterprise’s interactions with the organizations that supply the goods and services it uses. The goal of supplier relationship management (SRM) is to streamline the processes between an enterprise and its suppliers to deliver benefits to both parties in the relationship. Impartx SRM applies an innovative digital eco-system approach to managing the relationship between an enterprise and its suppliers.
A Digital Eco-System takes concepts from natural eco-systems and applies these to commercial business environments. The interdependence between organisms in a natural eco-system to ensure growth and survival has its parallels in business where a healthy supply chain helps ensure the mutual survival and growth of the businesses involved. It also recognises that a minor supplier today could be a partner in the future and even a customer.
Impartx SRM creates a common frame of reference to enable effective communication between an enterprise and suppliers who may use quite different business practices and terminology. As a result, Impartx SRM increases the efficiency of processes associated with contracting, strategic sourcing, spend management, project management and new business generation.
SRM in a Digital Eco-System means that a business can consolidate its position in the Eco-system by ‘servicing’ its suppliers just as well as its customers. By improving the way the business communicates with, transacts with and supports its suppliers that business is in a better position to achieve efficiencies from its supply chain.