Traditionally, the purpose of supplier management was to ensure outsourcing outcomes matched the intent of the contract. Now, as companies seek to drive value from their strategic supplier relationships, a broader range of activities are involved in supplier relationship management (SRM), including risk, performance, and governance.
Supplier managers today are responsible for key objectives, such as driving innovation from their large outsourcing providers, ensuring the right mitigation plans are in place, and guaranteeing performance is at par. Misses can be high visibility and must be managed effectively.
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