APQC Infographic: Taking supplier management to the next level

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http://www.scmr.com/article/apqc_infographic_taking_supplier_management_to_the_next_level

Supplier relationship management (SRM) is a method commonly used by organizations to ensure suppliers adhere to contract terms and procurement objectives.In a survey conducted by APQC and SCMR with 128 respondents, 40 percent of organizations currently use SRM. Of those not using it, 68 percent say it is extremely to moderately likely that they will implement SRM in the near future.For more information about enhancing the value of your supplier relationships read our Benchmark article from this month’s issue.
Click here for the full size infographic.APQC recommends that organizations evaluate their key supplier relationships and select the sourcing business model that best fits. Sourcing models can evolve over time as the business changes and events occur. The key is to know when to use the right sourcing business model for the right situation; each serves a different purpose and will garner different results and drive different behaviors from suppliers.