There s a new buzz phrase in the air: Supplier Relationship Management (SRM). Corporate
executives know it s necessary but there s only one problem. Nobody yet knows how to do it. Or
they think it s all about bashing your vendors over the head until they reduce the price
another 4%. Supplier Relationship Management: How to Maximize Vendor Value and Opportunity
changes all that. Containing the best and most innovative advice from the operations and
procurement experts at consultant AT Kearney this book shows that SRM is at root a strategic
discussion requiring cross-functional interaction and internal alignment at the highest levels.
It requires an honest appraisal of the value that suppliers now bring to your firm as well as
their potential value. It then requires a frank and constructive business-to-business dialogue
about how to improve the relationship. When this happens a company reaps myriad benefits
ranging from new opportunity to added value to competitive advantage and quite likely to
overall (and sometimes substantial) cost reductions. This book shows the most concrete methods
you can use today to: Identify value-adding opportunities in the supply chain Work closely with
suppliers to maximize the benefits Work the Critical Cluster of suppliers where the greatest
opportunity for advantage lies Review suppliers to encourage constant gains in quality and cost
Turn your SRM strategy into a major competitive advantage Supplier Relationship Management
introduces and explains the Supplier Interaction Model a key tool that will help you get the
most from your supplier relationships. It segments the supplier universe into nine categories
from those you want to run away from fast to those so good and so useful to your organization
that it can make sense to invest in them directly. Numerous case studies show how to apply the
principles to your situation. Supplier Relationship Management burns off the fog that has
surrounded the procurement process for far too long. It is the definitive guide for business
executives who want to get the maximum benefits from suppliers and gain very real advantages
over competitors.
