Sourcing forms an important part of the overall procurement process for any organization looking to purchase high-volume or high-value commodities, materials, goods, products, or services. But it can be a cumbersome process, which can cause additional stress and overwhelm in what may already be a high-stakes situation.
Decision makers and procurement teams recognize the important role that the management of supplier relationships plays in reducing costs and creating value for their business. Yet, the adoption and administration of SRM is still fraught with problems and it often isn’t supporting fundamental business objectives as much as it could.
