The new Enhancing Collaboration Through Effective Relationship Management report from World Commerce & Contracting confirms the value that effective SRM programs bring to both buyers and suppliers. And it also reveals that those effective programs are currently very much the exception.
Our business environment has created a need for collaboration and supply security. This should enable supplier relationships to flourish, but transactional behavior remains a formidable barrier to change.
The report reveals core challenges in inter-organizational dialog, compounded by internal divisions and fragmentation of roles and data. Formal SRM programs frequently struggle to reach the surface or realize their true potential in this environment. Talented individuals, desperate to bring value to their organization, are too often left swimming against the tide.
So is this a thankless task, best abandoned? The success stories tell us no, and the direction of modern business and technology also point towards a more relational future. To achieve change, SRM needs to be more than an overlay. It requires focused attention from senior management to develop deep roots and alter embedded attitudes and practices.
The report provides a baseline and a call to action. It also tells us that progress may be slow, but the journey is definitely worth taking.
As a non-profit membership association, World Commerce & Contracting is the only independent body providing research, training and certification to SRM professionals or those performing SRM roles.
Download the full report: https://info.worldcc.com/enhancing-collaboration-through-effective-relationship-management
This post originally appeared in Commitment Matters on 4th July 2024: https://commitmentmatters.com/