SAP Supplier Relationship Management (SRM)
SAP SRM, which is the supplier relationship management solution, helps in the procurement of goods, through a web-based platform. The solution helps to optimize the procurement process successfully, and deals with the suppliers to move onto better supply process and returns. The solution integrated with the vendor system, helps reduce the time in the procurement cycle with the best and effective methods. In short, the solution acts as a bridge between the suppliers and the business process. It is involved with the interaction with the suppliers, for raw materials, supply services, goods, and other activities.
The important components of the solution are strategic sourcing, analytics, plan-driven procurement, procurement for public sector, and others. The key features of the solution are self-service procurement, catalog management, reporting functionality, and the contract management.
The SAP SRM solution helps the user with the right tools for managing the supply chain activities and practices in a business. The solution helps in the different stages of the procurement process, such as understanding the trends, having the communication with the partners, refining the procurement cycle, etc. The whole process boosts the efficiency of the organization. The crucial functions in SAP SRM are navigation, searching, purchase order, workflow, and account assignment.
The benefits which an organization can get after the integration of this solution are automation of the operational workflow, in the right coordination of the business process, accelerating the procurement process, along with other management tasks. It massively cuts down the procurement expenses, thus benefitting the organization. The organization can also plan the right procurement strategy with the usage of this solution. It rightly automates, simplifies, and centralizes the entire procurement process.
Companies that use SAP SRM
|Company Name||Website||Employee Count||Revenue|
|Lockheed Martin||www.lockheedmartin.com||114,000||$67 Billion|
|Noble Drilling||www.noblecorp.com||1800||$784 Million|
|Southern California Edison||www.pge.com||26000||$20 Billion|
Companies Using SAP SRM, Market Share & Customers List
Supply Chain Management Market Share (in %)
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