Supplier Relationship Management (SRM)
Definition - What does Supplier Relationship Management (SRM) mean?
SRM can be implemented through software, making it possible for organizations to effectively perform business transactions, request goods or services and automate the entire process
between the organization and its suppliers.
Techopedia explains Supplier Relationship Management (SRM)
SRM includes features such as supplier registration and management, the creation of documents such as a request for proposal (RFP) or request for information (RFI), the procurement of new products or services, managing a catalog, providing centralized management and, in most cases, providing remote access to third-party suppliers under a policy-based limited authorization mechanism.